Mergers & Acquisitions

Santa Monica, Calif. -- Beverly Hills, Calif.-based Maxxam Enterprises said that Steak ‘n Shake is entering the California market with a new restaurant on Third Street Promenade in Santa Monica.

The 4,300-sq.-ft. space is located near the intersection of the Promenade and Broadway, across the street from Santa Monica Place, the new upscale shopping mall in Downtown Santa Monica.

Steak ‘n Shake said it plans for a grand opening later this year, after completing tenant improvements to its space.

 

New York -- A Monday report by Bloomberg said that ex-Aeropostale executive Christopher Finazzo – convicted last week on 14 counts of  fraud against the retailer – has been order to forfeit more than $25 million.

Jurors unanimously found that Finazzo must turn over $25.79 million in cash, interest in four Calverton, N.Y., properties and as much as $300,000 from a trading account, according to the Bloomberg report, which cited a statement by Robert Nardoza, spokesman for Brooklyn U.S. Attorney Loretta Lynch.
 

MELVILLE, N.Y. — Retail real estate industry executive Jonathon Graub has joined A&G Realty Partners, a leading commercial real estate, advisory and investment group, as principal. Graub will advise A&G Realty’s retail clients on strategic growth opportunities and assist with their real estate operations.

Mansfield, Texas -- Irving, Texas-based WindStar Properties said that Jersey Mike’s Subs will open a new restaurant at Mansfield Crossing Shopping Center, located in Mansfield, Texas.

The 1,575-sq.-ft. unit is part of an aggressive expansion push for the Jersey Shore-based sandwich chain, which opened 92 restaurants in 2012.

Fort Worth, Texas -- Trademark Property announced that Tony Chron has rejoined the company as chief development officer, effective April 15.

“Bringing Tony back is an important investment in our development capacity,” said Trademark chairman-CEO Terry Montesi. Chron will oversee Trademark’s power and community center development program as well as the company’s redevelopment efforts.
 

New York -- Multibillion dollar transactions drove U.S. retail and consumer deals during the first quarter of 2013, according to PwC US.

For the three month period ending March 31, 2013, there were a total of 27 deals in the retail and consumer sector with disclosed values greater than $50 million, accounting for $39.8 billion in deal value. Deal volume increased 59% from the 17 deals during the first quarter 2012, while deal value rose 590% from $5.8 billion in first quarter 2012.  

NEW YORK — Former J. Crew executive Arnold P. Cohen has been named EVP and CMO at Cache, a specialty chain of women’s apparel stores.

Melville, N.Y. -- A&G Realty Partners announced Monday that former executive VP of real estate for Charming Shoppes, Jonathon Graub, has joined the firm as principal.

Graub will leverage his background to advise clients on strategic growth opportunities and to assist with their real estate operations.