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Mergers & Acquisitions

  • Brixmor upgrades shopping center portfolio

    New York -- Brixmor Property Group Inc. has provided an update on its ongoing program to maximize value in its shopping center portfolio. These initiatives involve upgrading its centers' merchandise mix with strong, best-in-class anchors to drive higher sales, traffic and small shop leasing, while elevating center appeal to improve rent levels and shopping center net operating income.   

  • Stonewall Kitchen receives Centre Partners investment, names new CEO

    York, Me. –- Stonewall Kitchen has received an investment from private equity firm Centre Partners. As part of the investment, Stonewall Kitchen will continue to be managed by its existing leadership team with the addition of Centre operating partner John Stiker, who has been named CEO.    

  • Report: Luxottica owner says return as CEO temporary

    Milan, Italy –- Leonardo Del Vecchio, 79, the chairman and founder of global eyewear manufacturer/retailer Luxottica Group who assumed the role of interim CEO on Oct. 14, has reportedly sent a letter to employees reassuring them his return as CEO is temporary. According to Reuters, in the letter, Del Vecchio said he would step down and turn management over to new co-CEOs once the company’s new governance structure is consolidated.  

  • Avison Young executes sale of Lindbergh Crossing in Atlanta

    Atlanta –- Commercial real estate services firm Avison Young has completed the $7.06 million sale of Lindbergh Crossing, a 27,057-sq.-ft., fully-leased shopping center in Atlanta. The team enabled the seller, Lindbergh Crossing, LLC, to harvest a significant gain on the property within a relatively short holding period.  

  • Century 21 opens as The Gallery anchor Oct. 28

    Philadelphia -- Century 21 Department Store is opening an approximately 95,000-sq.-ft. anchor store at The Gallery shopping center in Philadelphia on Tuesday, Oct. 28. This will be New York-based Century 21’s first location outside the New York market.   

  • CVS, Rite Aid disable Apple Pay

    Woonsocket, R.I. –- CVS Health Corp. and Rite Aid. Corp., which have both used the near-field communication (NFC) technology that supports Apple Pay, have disabled their NFC payment systems to block Apple Pay from working in their stores. 

     

  • Pine Tree Commercial Realty acquires South Pasadena Shopping Center

    Tampa, Fla. -- Northbrook, Illinois-based Pine Tree Commercial Realty, LLC announced that it has acquired South Pasadena Shopping Center, a grocery-anchored community shopping center located in South Pasadena (Tampa), Florida, for $21.1 million.    The recent acquisition is Pine Tree’s 73rd and brings the company’s current portfolio to 3.5 million sq. ft. in 15 states.  

  • Ron Johnson launching start-up that helps online shoppers choose products

    New York -- The cat is finally out of the bag. Former J.C. Penney CEO and Apple retail head Ron Johnson confirmed that he is launching a new company—but it’s not a tech-gadget delivery service as was widely rumored. Instead,  the new initiative, set to launch in 2015,  is designed to help online hoppers make the right product choices.  
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