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Deals

  • Lincoln Park center changes hands

    Riverpoint Center, a 211,000-sq.-ft. grocery-anchored center in Chicago’s Lincoln Park neighborhood, has been acquired by Federal Realty Investment Trust for $107 million.   Mid-America Rea Estate brokered the sales of the center, which is anchored by Jewel-Osco, Marshalls, and Old Navy. The name of the seller was not disclosed.   Riverpoint Center is located at the northwest corner of West Fullerton and North Clybourn Avenues in Lincoln Park, an affluent neighborhood on the lakefront north of downtown.

  • Convenience store giant makes $3.3 billion acquisition

    7-Eleven has accelerated its U.S. expansion by entering into the largest acquisition in its history.    The c-store retailer has agreed to buy the Sunoco chain of gas stations, which includes some 1,108 convenience stores located in 18 states, for a reported $3.3 billion.   

  • Specialty footwear giant to shutter hundreds of stores amid Chapter 11 filing

    Payless ShoeSource filed for Chapter 11 bankruptcy protection amid growing competition from off-price retailers and online.

    The retailer, which has some  4,400 locations in more than 30 countries, plans to immediately close nearly 400 stores in the United States and Puerto Rico as it attempts to boost its balance sheet and restructure its debt load.

  • Rochester outlet center adds Macy’s building

    A mall-to-outlet center conversion underway in Rochester, New York, took a big step forward this week with the acquisition of a Macy’s building on the property.  

  • Dollar General acquires small chain

    Dollar General is set to grow its already considerable footprint through an acquisition.   The discounter will acquire all 323 stores from Dollar Express, according to the Charlotte Observer.    

  • Ralph Lauren to reduce headcount, close flagship, deploy new online platform

    Ralph Lauren Corp. is shaking things up—and cutting costs.   The company, which has been struggling with weak sales,  on Tuesday said it would reduce corporate staff, close its Polo flagship on Manhattan’s Fifth Avenue, and move its online platform to Salesforce’s CommerceCloud solution.    

  • Report: Walgreens sets deadline for approval of Rite Aid deal

    The latest move by Walgreens Boots Alliance in its pursuit of the Rite Aid may be a bet that a Trump-appointed FTC chief will finally push the deal through.  

  • Stage Stores to acquire bankrupt department store chain — but not all of it

    Gordmans is being rescued from liquidation — at least, part of it.    Stage Stores won a bid to acquire about half of Gordmans’ stores. The Omaha, Nebraska-based department store chain filed for Chapter 11 on March 13.    The retailer’s bid edged out Jeff Gordman, the former CEO of Gordmans, who also made a play to revive the bankrupt 106-store department store chain.   
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