Mergers & Acquisitions

Beachwood, Ohio -- DDR Corp. announced the sale of an 11-property portfolio--located primarily in the Buffalo MSA that was previously held in joint venture with Kuwaiti Financial Centre II--for a total of $154 million. The portfolio was comprised of small-format traditional grocery-anchored centers and single tenant non-prime assets.  

Los Angeles -- BH Properties has announced the hire of Andrew Van Tuyle as chief acquisition officer. In this role, Van Tuyle will be responsible for the firm’s property and debt acquisitions throughout the Southwest.  

Minneapolis -- Promising an “Amazon-like experience” in its stores, Target Corp. has acquired a Pittsburgh technology firm that says its software platform brings "an Amazon-like shopping experience" to in-store customers.   Target and Powered Analytics co-founder Collin Otis have confirmed the deal but have not disclosed the terms. The firm will reported remain headquartered in Pittsburgh.  

Hangzhou, China -- Alibaba Group Holding Ltd., which previously said it is in discussions with Apple about working with its Apple Pay digital payment service, is now reportedly also open to working with EBay’s PayPal digital payment service.  

Cincinnati -- Phillips Edison-ARC Grocery Center REIT II Inc. has acquired Laguna 99 Plaza, adding another property in California to the company's portfolio. Laguna 99 Plaza is an 89,188-sq.-ft.grocery store-anchored shopping center located in Elk Grove, California, part of the Sacramento metropolitan statistical area.    Laguna 99 Plaza is anchored by Walmart Neighborhood Market. Other national and regional tenants at the center include GNC, Metro PCS, and Goodwill. 

Covington, La. -- Stirling Properties’ Beezie Landry, senior sales and leasing executive, closed on the sale of three investment properties, totaling over $15 million. In each of these transactions, Landry represented the Seller.   The CVS property on Greenwell Springs Road in Baton Rouge, Louisiana is a 13,824-sq.-ft. building purchased by a private New York- based investor for $4.75 million.
  

Dallas -- X Team International announced that partner Venture Commercial Real Estate completed the sale of two properties in Richardson, Texas and Waco, Texas, representing more than 150,000 sq. ft. of retail space.   

Issaquah, Wash. -- Robert Craves, 72, a founding officer of Costco, died last week shortly after being diagnosed with cancer, The Seattle Times reported.

 

San Jose, Calif. -- RetailNext Inc., a leader in applied Big Data for physical retail, named Marc Dietz as its chief marketing officer.    Dietz comes to RetailNext most recently from IBM where he led worldwide marketing for the company’s SaaS portfolio, including multiple acquisitions such as DemandTec, Coremetrics, and Silverpop.   

Princeton, N.J. -- Heartland Payment Systems, the nation's fifth largest payments processor and a leading provider of merchant business solutions, has acquired leading foodservice industry enterprise-level POS software provider, XPIENT Solutions.