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Mergers & Acquisitions

  • DDR acquires two power centers for $151 million

    Beachwood, Ohio -- DDR Corp. on Thursday announced the acquisition of two prime power centers for $151 million during the fourth quarter.

    DDR purchased Carolina Pavilion, located in Charlotte, N.C., from Blackstone Real Estate Partners for $106 million. The 94% leased, 852,000-sq.-ft. center is anchored by Target, Kohl's, Nordstrom Rack, Ross Dress for Less, Buybuy Baby, Bed Bath & Beyond, Jo-Ann Fabric and Craft Stores and AMC Theatres.

  • Report: Cerberus close to deal with Supervalu

    New York -- Private equity firm Cerberus Capital Management LP and its partners are nearing an agreement to buy parts of Supervalu Inc., the Wall Street Journal reported.

    Cerberus and its partners plan to buy some assets of the retail chain and take a stake in the remainder, which is expected to remain public, according to the report.

     

  • Nordstrom to open in Minnetonka, Minn.

    Seattle -- Nordstrom plans to open a full-line store in Minnetonka, Minn., at Ridgedale Center, which is owned by General Growth Properties.

    The store will be approximately 138,000 sq. ft. and will open in fall 2015. It will be Nordstrom's second full-line store in Minnesota.

     

  • Jones Lang LaSalle closes sale of Westdale Mall

    Cedar Rapids, Iowa -- Jones Lang LaSalle’s Capital Markets group said Thursday that it has brokered the sale of Westdale Mall in Cedar Rapids, Iowa, on behalf of Tremont Capital Corp. and Cedar Rapids Properties.

    The 743,369-sq.-ft. property is anchored by J.C. Penney and Younkers.

     

  • Simon and CalPERS Affiliate IMI form JV to acquire two assets

    Indianapolis -- Simon Property Group and Institutional Mall Investors (the co-investment venture owned by an affiliate of Miller Capital Advisory and The California Public Employees' Retirement System [CalPERS]), on Thursday announced that they have formed a joint venture to own and operate The Shops at Mission Viejo in the Los Angeles suburb of Mission Viejo, Calif., and Woodfield Mall in the Chicago suburb of Schaumburg, Ill.

  • Will Safeway come calling on Walmart

    Top food executives at Walmart are presumably in the crosshairs of Safeway recruiters now that longtime chairman and CEO Steve Burd has announced his retirement.

  • Jack Wills Outfitters continues to expand

    New York -- British clothing and accessories retailer Jack Wills Outfitters is opening a new store, in New Canaan, Conn.

    The company has chosen builder and general contractor A&O Danner, Inc., of Plymouth, Mass., to complete the buildout. In 2010-11, Danner built two other Jack Wills stores in Connecticut, in Greenwich and Westport.

  • Wal-Mart creates new position to oversee alternative formats

    Bentonville, Ark. -- Wal-Mart Stores Inc. said Friday it has created a new executive position to oversee new store formats in international markets.
     
    Lev Khasis, who joined the company in 2011 after working in Russian retail, was named president and CEO of new formats for Wal-Mart International. He built up Russia’s largest food retailer X5 through acquisitions into a market leader before resigning to join Wal-Mart Stores.
     

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