Mergers & Acquisitions

Seattle – Last month Facebook overtook Wal-Mart in valuation, and now another digital giant has reportedly achieved the same feat. According to the Associated Press, after intense after-hours trading, which followed Amazon’s rare report of a second quarter fiscal 2015 profit, Amazon now has market capitalization of about $264 billion.

Oak Brook, Ill. – Retail Properties of America Inc. (RPAI) has named Heath R. Fear as its new CFO and treasurer, effective Aug. 17. Fear will play a key role in the continued execution of the company’s portfolio and balance sheet strategy, in addition to oversight of all of financial activities, including capital markets, accounting, investor relations, internal audit, internal reporting and treasury.

Houston - Transwestern represented Mod Pizza in five leases totaling approximately 13,662 sq. ft. in the Houston market. Grant Walker, VP, and Chris Reyes, broker associate, who serve as exclusive advisors for Mod Pizza in the Houston market, represented the retailer in the transactions.

Mod will be operating more than 100 stores across the U.S. by the end of 2015 and has plans to open more than 30 additional locations in Houston within the next four to five years.

Mod Pizza’s newest Houston locations include:

Lowe's Canada announced that in addition to completing the acquisition of 12 former Target sites, the company also plans to open two more locations in Ontario. Construction is currently underway in Ancaster and Mississauga, representing an additional investment in excess of approximately $38 million (C$50 million.)

Atlanta – The addition of income from Progressive Holdings LLC, as well as the elimination of expenses related to the April 2014 purchase of Progressive, propelled strong profit growth at Aaron’s Inc. The rent-to-own retailer reported net earnings of $40.5 million in the second quarter of fiscal 2015, almost five times the $8.5 million earnings reported the same quarter a year earlier.

Toronto – Lowe’s Canada is in growth mode. In addition to completing the acquisition of 12 former Target sites, the company also plans to open two more locations in Ontario, which will bring its total store count to 54 from 40.

Regional grocery chain Southeastern Grocers has agreed to sell 29 BI-LO stores to another regional grocery chain: K-VA-T Food Stores.

K-VA-T says it intends to continue to operate all of these stores under the Food City banner and hire the vast majority of their store associates, retaining their years of service.

Toronto - Hudson’s Bay Company (HBC) is capitalizing on 42 real estate assets. The retailer has closed a joint venture with Simon Property Group focused on credit tenant, net-leased and multi-tenanted retail buildings in the U.S. and internationally.