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Deals

  • Done deal: Penney sells headquarters campus in leaseback deal

    J.C. Penney continues to lower its debt load.    The retailed has sold its sprawling headquarters campus in Plano, Texas, to Dreien Opportunity Partners, general partner of Silos Opportunity Partners, for a gross sale price of $353 million before closing and transaction costs.  

  • Macy’s details store closings, restructuring amid poor holiday sales

    Macy’s gave more information about its previously announced store closing plans as it unveiled a series of actions to streamline its store portfolio, intensify cost efficiency efforts and execute its real estate strategy.   

  • Expanding North

    DLC Management Corp.’s grocery-anchored shopping centers can be found in places such as Dallas; Milwaukee; Columbus, Ohio; and Birmingham, Ala.; but the company has a special stake in the Northeast. In October, DLC closed the biggest deal in its history, acquiring a passel of 16 centers, all but one of them in New York state. Chain Store Age Real Estate Editor Al Urbanski talked with DLC CEO Adam Ifshin and asked him what retailers need to know about the Northeast market.

  • Gracious Homes New York location up for grabs

    Gracious Homes’ lease on a 17,000-sq.-ft. store in the Chelsea neighborhood of Manhattan is on the auction block.   The location, which has 70 ft. of frontage on 25th Street between Broadway and 6th Avenue is being made available at a “substantially below market” rate, according to Andy Graiser, co-president of A&G Realty Partners, which is handling the auction for the retailer that recently filed for bankruptcy protection.  

  • Bankrupt fashion retailer to initiate auction process

    Nasty Gal is moving ahead with plans to be acquired by a British online fast-fashion retailer.     

  • Downtown Detroit mixed-use property opens

    The comeback of downtown Detroit, led by the expansive District Detroit project under construction, was advanced this week with the opening of The Scott at Brush Park. The upscale, mixed-use development of Broder & Sachse Real Estate and Sachse Construction is located about eight blocks north of District Detroit on Woodward Avenue.   

  • Freeman sells mall it’s held since 1968

    After nearly 50 years of ownership, the Carl M. Freeman Companies has sold the Cabin John Shopping Center and Mall in Potomac, Maryland, to Edens for $165 million.   Freeman parted with a property that it built in 1968 in order to amass capital for other projects, according to CEO Michelle Freeman, who assumed the helm of the company after her husband, Josh, perished in a helicopter crash.  

  • Michigan town seeks developer for $350 million mixed-use project

    Officials from the city of Troy, Michigan, made the rounds of the New York Deal Making show looking for a partner to help them erect a proposed $350 million town center.  
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