Kohl's department store will take over the Mervyn's store site in Hayward's Southland Mall, along with several other Bay Area Mervyn's locations, according to retail officials and bankruptcy court records. Besides Hayward, Kohl's will open stores at Mervyn's sites in Millbrae, San Rafael, Napa, and Capitola. In all, Kohl's will assume the leases for 31 Mervyn's locations in California, as well as some Mervyn's stores in Nevada, Texas and Utah, the retailer said. Mervyn's will close 149 stores for good after the Christmas shopping season. A cash squeeze, rising debts, and slumping sales forced Mervyn's into bankruptcy earlier this year. Kohl's will occupy 98,000 square feet and become one of the anchor tenants at Southland Mall. Kohl's could open at that site as soon as late January, court records indicate. Kohl's won a bankruptcy court auction to obtain the sites. Another retailer, Forever 21, will take over 15 sites.
Washington Post Co. Chairman Donald Graham is joining the board of Palo Alto-based Facebook Inc., connecting the popular Internet hangout with a media industry veteran. The addition of Graham marks another step in Facebook's maturation since Mark Zuckerberg started the company in a Harvard University dorm room less than five years ago.
Livermore-based McGrath RentCorp., a rental provider of modular buildings for classroom and office space, and electronic test equipment, announced that it has completed its acquisition of privately held Adler Tank Rentals for approximately $90 million. New Jersey-based Adler Tank Rentals rents temporary storage tanks and containers used in energy, environmental, industrial and construction applications.
Iron Horse Plaza, a new Danville shopping center, is holding a holiday festival today that's aimed at raising money for the Blue Star Moms chapter in that city. Most of the retail center's tenants will participate in the festival and fund-raising for the mothers and step-mothers of sons and daughters now serving in the Armed Forces, including in Iraq and Afghanistan.
Compiled from staff and wire reports. Got Bay Area business news? Reach Drew Voros at 925-943-8099 or firstname.lastname@example.org.