Mergers & Acquisitions

Cleveland -- Forest City Enterprises, Forest City Realty Trust announced the completion of the merger of FCE Merger Sub, Inc., an Ohio corporation, with and into Forest City Enterprises, Inc., with Forest City Enterprises, Inc. surviving as a wholly-owned subsidiary of Forest City Realty Trust, Inc.

The merger marks the final step in the company’s planned conversion to real estate investment trust (REIT) status for the taxable year ending December 31, 2016.

Circle K Stores Inc., a division of Alimentation Couche-Tard, has purchased 62 convenience stores in nine states from Dallas-based Greatstone Equities Inc., according to the Greater Baton Rouge Business Report.

The deal includes locations in Arizona, California, Florida, Louisiana, Nevada, New Mexico, North Carolina, Texas and Washington, the report said.

Los Angeles -- CBRE Group announced that it has acquired CBRE Memphis, a commercial real estate services firm that has served as CBRE’s affiliate in Memphis since 1996.

CBRE Memphis services include leasing, property sales, property management, project management and consulting. The firm has a staff of more than 100 and leases and/or manages approximately 14 million sq. ft. of property in the Memphis metro area, as well as in Jackson, Mississippi, and Arkansas.

Photo: ColorTek - Studio C, St. Louis

New York -- Urban Edge Properties announced the acquisition of Pan Bay Center, located in the Howard Beach neighborhood of Queens, New York, for $27 million. The property includes almost the entire block on the west side of Cross Bay Boulevard between 156th Avenue and 157th Avenue.

The 50,000 sq. ft. property is currently 85% leased with local retail tenants on the ground floor and medical office tenants on the second floor. The property includes 97 parking spaces.

Restructuring will be key to retail survival in 2016, according to veteran retail analyst Walter Loeb, who is worried about the future profitability of many leading traditional retailers as the year gets underway. “They are losing sales productivity in their stores while expenses rise and management bureaucracy grows,” Loeb wrote in an article on Forbes.com. [Forbes.com]

Venice, Fla. -- Main Street Ranchlands and The Sembler Company announced the companies have formed a joint venture to develop the Marketplace at Coastamar in West Villages located in Venice, Florida. This is the first commercial opportunity in the rapidly growing master-planned community in south Sarasota County.

Pharmaca Integrative Pharmacy on Monday named Richard Willis as the company's president and CEO. He will also serve as a director of the company.