Mergers & Acquisitions

Oak Brook, Ill. -- Inland Diversified Real Estate Trust announced the acquisition of six triple-net leased grocery properties in two separate portfolio acquisitions, with a total combined purchase price of approximately $71.4 million.

The acquisitions include three grocery stores in Missouri that are fully leased to Schnuck Markets, purchased for approximately $22.6 million in a sale-leaseback transaction. Additionally, three Pathmark grocery stores located in Delaware, Pennsylvania and New York were acquired for approximately $48.8 million.

Mahwah, N.J. -- The Brick Group, one of Canada’s largest volume retailers of home furnishings, bedding, appliances, and home electronics under one roof, has selected TD Financing Services Inc., a wholly owned subsidiary of The Toronto-Dominion Bank and an affiliate of Mahwah, N.J.-based TD Retail Card Services, to administer its private label credit program.

Family Dollar – like Dollar General – is opening stores as fast as it can and this week said it would add 500 new units ahead of what is expected to be an announcement by Walmart next week to accelerate growth of its own small format.

New York -- J.C. Penney Co. has partnered with Giggle, a New York-based upscale baby specialty store chain, to debut an exclusive collection of Giggle-branded merchandise next fall, Crain’s New York reported.

The new line is one of the many branded in-store shops that are now in the works at J.C. Penney.

FOOTHILL RANCH, Calif. — Wet Seal, just days after encouraging its shareholders to reject efforts by Clinton Group to replace its board of directors, reached an agreement with Clinton Group giving them four spots on its board of directors.

As part of the settlement agreement, Clinton Group, which beneficially owns approximately 6.9% of Wet Seal common stock, has terminated its consent solicitation. In addition, Jonathan Duskin, Sidney Horn, Hal Kahn and Henry Winterstern have resigned from the board of directors.

Foothills Ranch, Calif. -- The chairman of The Wet Seal and three other directors have stepped down from its board, replaced by four nominees of the Clinton Group. The move follows several attempts by the activist investor group, which holds about 7% of Wet Seal, to take control of the struggling retailer.

As a result of the board changes, Clinton Group has agreed to terminate its effort to get support from shareholders for its nominees, Wet Seal said Friday.

San Francisco -- Real estate investment and management firm Jamestown said Wednesday it has acquired 799 Market Street, a 142,902-sq.-ft. mixed-use development in downtown San Francisco.

The eight-story urban retail and office building includes five floors of creative office space atop 55,000 sq. ft. of retail, currently 100% occupied by a Ross Dress for Less flagship store, one of the five highest performing Ross stores in the nation.

Seattle -- Paladino and Co., a sustainability and green building consulting firm, has acquired green building consulting firm S.D. Keppler & Associates, Rockville, Md. The two firms have joined to establish a comprehensive consulting offering focused on elevating the prominence and impact of green real estate programs within business.