Mergers & Acquisitions

Atlanta -- Jones Lang LaSalle has announced that it has closed the sale of Tifton Corners in Tifton, Ga., to Tifton Retail. JLL represented RCG Ventures in the transaction.

Anchors at the 186,629-sq.-ft. Tifton Corners include Big Lots, Save A Lot, Tractor Supply Co., Dollar Tree, Citi Trends and Hibbett Sports. The property is currently 84% leased.

JLL noted that Tifton is near I-75, a major north-south interstate, in south central Ga., two hours north of Tallahassee and three hours south of Atlanta.

Fort Lauderdale, Fla. -- Marcus & Millichap Real Estate Investment Services has promoted Douglas K. Mandel to first VP investments. Mandel also serves as senior director of the firm’s National Office and Industrial Properties Group and director of the National Retail Group.

In 2012, Mandel was the firm’s top office and industrial agent nationwide.

Dallas -- Regency Centers Corp. has closed on an off-market acquisition of Preston Oaks, a 103,503-sq.-ft. infill neighborhood center anchored by H-E-B Central Market. National retailers include Gap, Pier 1 Imports and White House Black Market.

Located in the Preston Hollow neighborhood of Dallas, Preston Oaks serves a market of 109,000 within a three-mile radius. Average household income is $144,000. The market’s population swells to 118,000 during the day.

Atlanta -- A just-released report by Jones Lang LaSalle Retail found that three trends — in retail investing, retail expansion and e-commerce — are making national borders increasingly irrelevant to the retail industry. According to Jones Lang LaSalle’s “Global Capital Flows,” retail investment captured 25% of the total global market share of real estate investment in first quarter 2013.

Atlanta -- Construction of a new Brixx Wood Fired Pizza is underway at The Avenue East Cobb in Marietta, Ga., just north of Atlanta. Cousins Properties manages the development.

Approximately 3,600 sq. ft., the new Brixx will seat about 140 inside and 45 outside on a patio. Franchisees Nick and Raj Vadgama will open the new restaurant, the first Brixx in Georgia, in the fall.

Brixx has also announced plans for a second franchised Georgia location in the Avenue Peachtree City, another Cousins property.

Dallas -- CBRE’s Private Capital Group in Dallas has arranged the sale of Hebron Heights Shopping Center in Carrollton, Texas, for an undisclosed amount. The 59,356-sq.-ft. neighborhood shopping center occupies a 10-plus acre site at the corner of Hebron Parkway and Old Denton Road in northwest Dallas.

SUFFERN, N.Y. — Lower-than-expected foot traffic driven in part by unseasonably cold weather was not enough to negatively impact Ascena Retail Group’s net sales for the third quarter ended April 27, which were bolstered by the recently acquired Lane Bryant and Catherines businesses.

Greenwich, Conn. -- Urstadt Biddle Properties Inc. has acquired two retail properties on Putnam Avenue (US Route 1) in Greenwich, Conn., for $18 million.

West Putnam Plaza is a 9,300-sq.-ft. retail strip center shadow-anchored by a Stop & Shop supermarket. National tenants include Cosi and JP Morgan Chase Bank. A wine retailer, day spa and women’s fitness studio round out the tenant list.

The second property is Cos Cob Plaza, a 15,000-sq.-ft. retail and office center. Tenants include Jos. A. Bank.