Mergers & Acquisitions

Los Angeles -- CBRE Group announced that Robert E. Sulentic assumed the position of president and CEO, effective Dec. 1.
   
Sulentic succeeds Brett White, who, as previously announced, retired on Nov. 30.

Sulentic, most recently the company’s president, also joined CBRE’s board of directors, which has expanded to 11 members. White also remains a member of the board.
 

Add Sherwin-Williams to the list of retailers celebrating store expansion milestones this year.

Dollar General opened its 10,000th location earlier in the year, followed by the 5,000th AutoZone store and more recently Walgreens opened its 8,000th store. Now, Sherwin-Williams has opened its 3,500 stores in Rancho Santa Margarita, Calif. The 4,000-sq.-ft. store is the 70th retail location the company has opened this year and its 147th location in California.

Los Angeles -- Multiple reports on Tuesday said that British billionaire and Topshop owner Sir Philip Green is negotiating with Leonard Green & Partners to sell a 25% stake in the TopShop and Topman chains.

The two brands, which would be broken off from Philip Green’s other Arcadia Group retail holdings, are valued at $1.61 billion. An announcement is expected as early as Thursday.

Neither Philip Green nor Leonard Green has commented directly on the impending transaction.

Fort Worth, Texas -- Trademark Property Group announced that together with Coventry Real Estate Advisors, Southern Land Co. and PCCP, it has recapitalized the Watters Creek at Montgomery Farm mixed-use project near Dallas in a joint-venture arrangement.
 
The Joint Venture acquired the note on the property from a multi-bank syndicate led by PNC Bank. PCCP provided the capital for the transaction from its opportunistic fund, PCCP Equity VI, L.P.

NEW YORK — If you thought Starbucks was everywhere already, wait a few years, as the company has announced plans to open 3,000 more stores in the Americas alone in the next five years.

Senior executives at the company outlined details of its growth agenda across its global retail, emerging brands and CPG channels at its biennial investor conference this week.

Indianapolis -- Simon Property Group said Wednesday it has acquired Paragon Outlets Grand Prairie in Grand Prairie, Texas, and Paragon Outlets Livermore Valley in Livermore, Calif.

Simon now owns 100% of each asset.

The 417,000-sq.-ft. Grand Prairie center is tenanted by Saks Fifth Avenue Off 5th, Bloomingdale's The Outlet Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Michael Kors, Nike and Tommy Hilfiger. The center opened in August 2012 and is 100% leased.

Melrose, Mass. -- Charter Realty & Development Corp. announced that shortly after acquiring Towers Plaza in Melrose, Mass., it has signed a 20-year lease for 29,980 sq. ft. to Whole Foods Market.

Whole Foods will move into a space currently occupied by Johnny’s Foodmaster. The space will undergo a major renovation that will coincide with Charter’s renovation of the balance of the center.

Tesco arrived in the U.S. in 2007 amid great fanfare with its first Fresh & Easy stores. Now, just five years later, the 30 year Tesco veteran in charge of the 200 unit operation is gone and the company is looking to unload the stores.