Mergers & Acquisitions

New York -- J.C. Penney Co. plans to end its association with the Martha Stewart brand after disappointing sales, according to the New York Post. The report, which cited unidentified sources, said the decision was made by Penney CEO Myron Ullman, who returned to the chain in April following the ouster of Ron Johnson.

Busan, South Korea — Shinsegae Simon, a joint venture between Shinsegae Group and Simon Property Group has announced the grand opening of Busan Premium Outlets, its third Premium Outlet Center in South Korea. The first two are located in Yeoju and Paju.

The new center is located on the southeastern tip of the Korean Peninsula and features 180 outlet stores. Fashion brands include Coach, Ermenegildo Zegna, Isabel Marant, Jill Stuart, Marc Jacobs, Roberto Cavalli and Vivienne Westwood.

HOUSTON — The relocation of Saks Fifth Avenue’s flagship store is allowing leading retail real estate firm Simon Property Group to use the space for other purposes, and the retailer to open a two-story, 198,000-sq.-ft. space adjacent to the one it will vacate at the Houston Galleria. 

Cincinnati — Phillips Edison—ARC Shopping Center REIT Inc. has announced the acquisition of Yorktown Centre, a 196,728-sq.-ft. shopping center in Erie, Pa. Anchored by a Giant Eagle grocery store, Yorktown Centre is 100 percent occupied.

Chattanooga, Tenn. — CBL & Associates Properties has closed on the sale of three malls and three related associated centers in a portfolio transaction for a gross sale price of $176 million in cash. The properties include Georgia Square Mall and Georgia Square Plaza in Athens, Ga.; Panama City Mall and The Shoppes at Panama City in Panama City, Fla.; and Rivergate Mall and Village at Rivergate in Nashville, Tenn.

Nordstrom never rushes things. It moves forward slowly, thoughtfully and creatively. And when the company makes a decision, observers tend to nod their heads and say: “Hey, that’s a good idea.”

A week ago, in a news conference announcing the acquisition of a West Side Manhattan Nordstrom store site for $102.5 million, Peter Nordstrom said: “We’ve had the intention and the drive, gosh, probably for the last 25 years to try to be here. We fully expect this to be our most successful store.”

Wroclaw, Poland — Atrium European Real Estate has acquired the Galeria Dominikanska shopping center in the Polish city of Wroclaw for E151.7 million, according to Dentons Europe, which advised Atrium on the transaction.

Atrium owns operates and develops retail real estate and shopping centers in Central and Eastern Europe.

HAMPSTEAD, Md. — JoS. A. Bank has appointed Byron "Bud" Bergren to the company’s board of directors. Bergren will also serve on the audit committee.

Bergren was formerly chairman of the board at Bon-Ton Stores from February 2012 to June 2013. From 2002 to 2011, he served as president and CEO of Bon-Ton, where he led the company's acquisition of Saks Northern Department Store Group. Bergren received a B.S. degree from St. Cloud State University. He served on the board of directors of the National Retail Federation from 2008 to 2012.