Mergers & Acquisitions

Thousand Oaks, Calif. -- Beverly Hills, Calif.-based Cardinal Equities, through its affiliate Paradise Capital Group, said it has acquired from U.S. Bank a 50,000-sq.-ft. retail and office complex in Dos Vientos Ranch, a master-planned community in Thousand Oaks, Calif.

Paraiso Town Center, built in 2008 and foreclosed on by the construction lender in late 2009, includes 40,000 sq. ft. of ground-level retail and restaurant space with outdoor dining, and 10,000 sq. ft. of office space.

Houston -- Grubb & Ellis Co. said Wednesday that it represented Gulf Coast Commercial Group in the sale of Westheimer Crossing Shopping Center, a 94,053-sq.-ft. retail center in Houston.

Delta Troy Interests Ltd. purchased the property for an undisclosed price.  The property was approximately 90% occupied at the time of sale to multiple tenants, including DSW, REI and Michaels Stores.

Elyria, Ohio -- Centro Properties Group announced that a 21,936-sq.-ft. lease has been executed with Planet Fitness at Midway Crossing, located in Elyria, Ohio.

New York City-based Centro owns Midway Crossing.

HERSHEY, Pa. — Just one month after filling in as the interim leader of chocolate giant Hershey, John Bilbrey officially took the reigns as president and CEO of the company.

Bilbrey also was elected to Hershey's board of directors, Hershey said Wednesday. Bilbrey, who served as the company's EVP and COO until May, replaced David West, who exited left his post after 10 years to become the chief executive at Del Monte Foods.

Atlanta -- Sandal retailer Flip Flop Shops announced Thursday it has signed its 100th franchisee agreement for a new store to be located in Universal Studios, Calif. The store will be followed by openings in Santa Monica and Las Vegas.

The announcement follows recent news about the growing chain’s master franchise deal for Canada, which will see units open across the country.

Topeka, Kan. -- Collective Brands, parent to the Payless ShoeSource and StrideRite brands, announced Wednesday that its chairman and CEO Matthew E. Rubel has resigned, effective immediately.

Rubel said in a release that he is leaving to pursue “a new chapter” in his career, and the company has offered no additional explanation.

Collective Brands said it is searching for a permanent replacement.

Dallas -- Cypress Equities Cos. said it has expanded its leasing team with the addition of Giancarlo “GC” Carriero, who joins the firm as leasing manager.

Carriero is responsible for developing and leveraging relationships with potential tenants and facilitating leasing solutions for Cypress’ nationwide retail and mixed-use projects. 

He was previously leasing representative for General Growth Properties.
 

Tomball, Texas -- Houston-based commercial real estate brokerage Baker Katz said it has acquired the Four Corners Shopping Center in Tomball, Texas.

Baker Katz purchased the 120,000-sq.-ft. center through an investment fund dedicated to real estate development, acquisition and ownership. The center holds the last remaining big-box vacancy in Tomball, a 45,000-sq.-ft. former Kroger space. Baker Katz plans to begin a major renovation on the center later this year and will look to re-lease the space.