{"id":327,"date":"2011-08-25T10:18:00","date_gmt":"2011-08-25T14:18:00","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/2011\/08\/home-center-and-hardware-industry-updates-2\/"},"modified":"2011-08-25T10:18:00","modified_gmt":"2011-08-25T14:18:00","slug":"home-center-and-hardware-industry-updates-2","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2011\/08\/home-center-and-hardware-industry-updates-2\/","title":{"rendered":"Home Center and Hardware Industry Updates"},"content":{"rendered":"
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Personnel Updates:<\/span><\/o:p><\/span><\/b><\/div>\n

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Lowe\u2019s Cos.<\/span><\/b> promoted M. Lee Reeves to Senior VP, Deputy General Counsel and Assistant Secretary. <\/o:p><\/span><\/div>\n
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ProBuild Holdings<\/span><\/b> President and CEO Bill Myrick is no longer with the pro dealer. \u00a0Fred Marino, Vice Chairman of ProBuild\u2019s board will serve as acting President and CEO, while an executive search is conducted.\u00a0 <\/o:p><\/span><\/div>\n
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Universal Forest Products<\/span><\/b> has announced that CEO Michael Glenn has retired due to health reasons.<\/span><\/o:p><\/span><\/div>\n
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Universal Forest Products, Inc<\/span><\/b>., announced that Matthew J. Missad, former Exec VP and General Counsel, has been appointed CEO of the Company.<\/span><\/div>\n

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Mergers and Acquisitions:<\/span><\/o:p><\/span><\/b><\/div>\n

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John H. Myers<\/span><\/b>, a chain located throughout South Central Pennsylvania and Northern Maryland<\/st1:place>, has joined US LBM Holdings.\u00a0 <\/span>Myers will continue to operate as John H. Myers & Son with its same work force and base of retail locations. US<\/st1:place><\/st1:country-region> LBM Holdings provides Myers with capital and back-office support to enable growth.\u00a0<\/span><\/o:p><\/span><\/div>\n
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Industry Insight:<\/span><\/o:p><\/span><\/b><\/div>\n

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Graeber\u2019s Lumber<\/span><\/b>, a one-unit lumberyard and millwork shop in Fairless Hills<\/st1:city>, Pa.<\/st1:state><\/st1:place>, closed for business. <\/o:p><\/span><\/div>\n
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Suburban Ace Hardware<\/span><\/b> of West St. Paul<\/st1:city>, Minn.<\/st1:state><\/st1:place>, permanently closed after its liquidation sale.\u00a0<\/o:p><\/span><\/div>\n
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Real Estate:<\/span><\/o:p><\/span><\/b><\/div>\n

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Marvin’s<\/span><\/b> is building a store in Eufaula<\/st1:city>, Ala.<\/st1:state><\/st1:place> — the 27th store for the home center chain, and the second new store in 2011.<\/o:p><\/span><\/div>\n
The company opened its 26th store in Monroeville<\/st1:city>, Ala.<\/st1:state><\/st1:place>, earlier this year.<\/o:p><\/span><\/div>\n
Construction will begin soon at the site on highway 431 in Eufaula, where the company hopes to open a 34,000-sq.-ft. store in early October, or sooner. The site is a former Walmart.<\/o:p><\/span><\/div>\n
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Menards <\/span><\/b>plans to open a new location in Miami Township<\/st1:city>, Ohio<\/st1:state><\/st1:place>, on Springboro Pike.\u00a0 The store will take the place of an existing plaza, the Lyons Crossing shopping center, which will be demolished to make room for the approximately $9 million project. <\/o:p><\/span><\/div>\n
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Menards <\/span><\/b>has received final approval in Howard<\/st1:city>, Wis.<\/st1:state>, outside of Green Bay<\/st1:place><\/st1:city>, in a controversial deal that included $1.6 million in tax incentives to construct a\u00a0162,340-sq.-ft. location.\u00a0 A divided Village Board voted 5 to 4 on June 27 to give the Midwestern home improvement chain $1.6 million in tax reimbursements over 15 years, provided the property remains valued at more than $8.7 million (its current estimated value) for the duration of that period.\u00a0 The incentive package will not come directly from the village coffers. Instead, the village will pay 80% of Menards’ annual real estate taxes generated under \u201cincreased taxes resulting from development\u201d assessment.\u00a0 The store will be built on 18.7 acres near U.S. 41. The main building will include 94,432 sq. ft. of retail space, 64,157 sq. ft. of warehouse and 3,751 sq. ft. for offices. There also will be a separate 42,352-sq.-ft. lumber warehouse. The development will include 428 parking spaces.<\/o:p><\/span><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Personnel Updates: Lowe\u2019s Cos. promoted M. Lee Reeves to Senior VP, Deputy General Counsel and Assistant Secretary. ProBuild Holdings President and CEO Bill Myrick is no longer with the pro dealer. \u00a0Fred Marino, Vice Chairman of ProBuild\u2019s board will serve as acting President and CEO, while an executive search is conducted.\u00a0 Universal Forest Products has… Continue reading Home Center and Hardware Industry Updates<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[6,11],"class_list":["post-327","post","type-post","status-publish","format-standard","hentry","category-home-hardware","tag-csg-old","tag-eupdate","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=327"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/327\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}