Deals

Baton Rouge -- JLL’s Capital Markets experts announced the firm has closed the sale of Hammond Aire Plaza located in Baton Rouge, Louisiana, on behalf of Kimco Realty. The asset was purchased by a joint venture partnership between DRA Advisors and Viking Partners.

Managing director Margaret Caldwell, VP Diane Roberts and associate Eric Spencer led the JLL team on the transaction.

Newport News, Va. -- Inland Real Estate Income Trust announced the acquisition of the approximately 210,000-sq. ft. Marketplace at Tech Center, a newly constructed grocery-anchored power center, in Newport News, Virginia. Mark Cosenza, VP of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Income Trust.

Plymouth Meeting, Pa. -- Metro Commercial Real Estate announced it has negotiated 13 new store openings for Dollar Tree in Pennsylvania.

Dollar Tree a value-driven variety store operating at a one-dollar price point, with stores where Middle America lives and shops and incorporates the philosophy of bright stores, big signs, and a clean environment.

Alamo, Calif. -- Donahue Schriber Realty Group announced that it acquired Alamo Plaza located in Alamo, California from Investco Advisors late 2015.

The 195,147 sq. ft. shopping center is anchored by Safeway and features Rite-Aid, 24 Hour Fitness, Richards Arts and Crafts, Peet’s Coffee & Tea, Panera Bread, and more.

Bellevue, Tenn. -- Crosland Southeast and Branch Properties have entered into a joint venture to acquire Bellevue Center Mall, an 87-acre property, located in Bellevue Tennessee. Crosland and Branch will collaborate to develop the retail component of the project and will rebrand the Bellevue Center Mall as One Bellevue Place. The projected costs for the redevelopment are approximately $200 million.

Nordstrom continues to expand its off-price format, with plans to open a Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-sq.-ft. store, leased from Seritage Growth Properties is scheduled to open in fall 2016.

Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-sq.-ft. center is located south of downtown Boston and near main highways including I-93, I-95 and Route 3.

St. Petersburg, Fla. -- The Sembler Company added 420,000 sq. ft. of new acquisitions to its portfolio in 2015, in addition to breaking ground on three new shopping centers and inking deals for three more – all while maintaining more than 95% portfolio occupancy.

Macy’s said warm weather took a huge toll on holiday sales, which were much worse than expected, prompting the company to announce major cost-cutting moves.

Los Angeles -- CBRE Group announced that Andrew Turf, a high street luxury retail real estate expert, will join the company’s Retail Services team as senior VP. Turf will also act as tenant representative on the West Coast and beyond and collaborate with capital markets teams on a variety of real estate projects.

Salt Lake City -- X Team International, an international alliance of retail real estate advisors, announced that partners Mountain West Retail and Investment, Dunbar Commercial and Endeavor Real Estate Group, completed three sale-leaseback transactions to Capview Partners for Melrose Family Fashions totaling 32,160 sq. ft. The Melrose Family Fashions stores included in the transaction are located in three Texas cities: Laredo, Odessa and Rio Grande City.