This local policy veteran has a new gig
Sacramento Business Journal
The Sacramento region's source for local business news & events. Part of the American City Business Journals network.
Cheers to Friday, LinkedIn community. Here's a new local CEO to put on your radar.
Orville Thomas has been named the CEO of the California Mobility Center , where he will lead the effort to build a global $500 million zero-emission innovation hub at California State University-Sacramento .
Thomas most recently served as state policy director for CALSTART , a nonprofit that works with public- and private-sector partners to create jobs in the high-tech and clean transportation industries with a focus on reducing air pollution.
"I believe in the concept that if we build it, they will come," Thomas told the Business Journal. "We want to create a vision and then go sell that vision."
Learn more about California Mobility Center CEO Orville Thomas in this article by reporter Mark Anderson .
Now, here are the rest of your local business headlines.
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Another notable leadership change
Michael Strech , the president and CEO of homebuilding advocacy group North State BIA , is planning to retire in the near future, the association announced Thursday.
Strech, who's headed the Roseville-based group since 2012, is retiring for health reasons, according to the announcement. Read more
Rite Aid closures include two local stores
Rite Aid has listed more than 150 locations, including two Sacramento area stores, planned for closure as part of a restructuring plan after the company filed for Chapter 11 bankruptcy earlier this week.
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The affected stores are at 1309 Fulton Ave. in Arden-Arcade, and 5409 Sunrise Blvd. in Citrus Heights. It appears the Fulton Avenue store has already closed.
Philadelphia-based Rite Aid Corp. announced it filed for bankruptcy and had reached an agreement with certain lenders on terms of a financial restructuring that would reduce debt and increase financial flexibility for the company. Read more
Why this shopping center sale is a big deal
One of the largest shopping centers in the region has sold in the biggest local real estate deal of the year from a dollars perspective.
Creekside Town Center, at 1180-1256 Galleria Blvd. in Roseville, sold in late September to real estate investment firm Cane Companies Management Inc., based in San Jose.
Justin Kennedy, co-founder and managing member of Miami-based 3650 REIT, which provided the loan for the purchase, said in a news release that Creekside's strong fundamentals made it a good bet in a challenging commercial market.
Learn more in this article by Senior Reporter Ben van der Meer .
Your weekly food and drink roundup
Need a caffeine fix? Grants Pass, Oregon-based Dutch Bros Coffee is adding a new franchise location in Rocklin, which will be more than double the size of the chain's typical drive-thru kiosk. Read more
Don't miss these other big headlines from restaurant reporter Jacob Abbott .
Thanks for reading our Weekly Edition, which was compiled by Managing Editor?Sonya Sorich. Send feedback and news tips to [email protected].