Deals

The remaking of Retail Properties of America is right on track, according to a financial review provided by the Oak Brook, Illinois company.   RPAI reported that it has completed $414.8 million worth of dispositions in the year to date, of which $367.2 million were non-target, multi-tenant retail assets.   In executing its strategic plan to focus on high-performing markets and properties, RPAI has exited multi-tenant retail operations in Alabama, Colorado, Louisiana, New Mexico, and Ohio.

Skilken/Gold has announced the sale of six Neighborhood Market stores, one of which was a prototype of Walmart’s new design for its grocery store concept.   The Louisiana stores all average about 42,000 sq. ft., including the Baton Rouge location that emerged from Walmart’s “build-to-suit” program initiated in 2014.   The Hampshire Companies and a South Korean partner acquired the properties for $78 million.   

The chairman and CEO of Sears Holding Co., is reportedly considering a deal with bankrupt Sears Canada.  

Cushman & Wakefield has tapped Dominic Delgado as senior director of its retail brokerage for Palm Beach and Broward County, Florida.   Delgado moves over to Cushman from LDR Partners, a Florida firm that focused on acquisition of low-performing retail, office, and hospitality real estate during the recession. As executive VP there, Delgado represented a mix of national and regional developers and REITs.  

As it turns out, there was lots of interest in Whole Foods Market.   The retailer was fielding other potential deals, including approaches by four private equity firms and two unnamed companies identified only as "Company X" and "Company Y," when Amazon made its move, CNBC reported.   

The town managers of New Lenox, Illinois, needed a new train station, so they bought a shopping center.   It was three years ago that Mayor Tim Baldermann and New Lenox purchased the Rock Island Station Shopping Center, according to the Chicago Tribune.  It invested more than $3 million in the site, which included buying out the businesses of the four stores there, demolishing them, and doing an environmental clean-up.    

The RoomPlace growing its store portfolio.   The family-owned company has opened a new showroom and warehouse distribution center in Indianapolis. The location is part of a strategic initiative to expand the furniture retailer's footprint in the city.   The new outpost also marks The RoomPlace's 25th store, with locations across Illinois and Indiana. It is one of the company's largest, at over 70,000 sq. ft. features a 16,000-sq.-ft. clearance center.   

Camping World Holdings has given an update on its plans for Gander Mountain.   Camping World, which acquired the assets of Gander Mountain and boating division Overton's in a bankruptcy auction in May, said it plans to operate 57 locations — assuming details can be worked out with landlords and final acceptable leases agreed to. Liquidation sales started in May at all 160 Gander stores.