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Deals

  • Safeway to acquire 87-year-old specialty grocery

    A longtime San Francisco grocery banner will soon disappear.    Safeway will acquire Andronico’s Community Markets, which operates five Andronico’s stores in the San Francisco Bay Area.     

  • Phillips Edison acquires two more centers

    Grocery-anchored center specialist Phillips Edison has announced the acquisition of two more centers, making it three for the week.   It purchased the 257,979-sq.-ft. Southern Palms in Tempe, Arizona, which is anchored by the fresh format grocer Sprouts and also houses Planet Fitness, Firehouse Subs, Sally Beauty, and West Marine Products.  

  • Phillips Edison buys Naples center

    Phillips Edison, a major player in grocery-anchored centers, has acquired the Mission Hills Shopping Center in Naples, Florida, according to The Real Deal, a south Florida real estate site.     The 11-year-old, 85,078-sq.-ft. center anchored by Winn-Dixie and Anytime Fitness is 97% leased, according to the seller, The Hampshire Companies. Terms of the deal were not disclosed.   More than 3,000 homes are under construction within two miles of the Mission Hills center, according to Hampshire.

  • DLC chief: Big acquisition means big work ahead

    DLC Management Corp.’s joint acquisition of 16 properties with DRA Advisors this month increased the square footage of its portfolio by 26% and its dollar value by 17%. DLC president and CEO Adam Ifshin aims to increase that dollar contribution in the years to come.    “We don’t buy value-add properties and baby-sit them,” he told Chain Store Age. “We come to them with a business plan and ask ourselves ‘How do we add value?’”  

  • Macy’s unloads five stores

    Macy’s Inc. is living up to its promise to downsize.   The department store giant announced it has sold five stores to General Growth Properties for $46 million. All but four of the locations will be closed by spring 2017.    

  • SoCal center sold for $19.8 million

    Town Center Plaza, an 82,000-sq.-ft. center in Palm Desert, California, near Joshua Tree National Park, has been acquired by Citivest Commercial Investments for $19.8 million.   Constructed in 1993, the center’s tenants include Trader Joe’s, Michael’s, Fisherman’s Market and Grill, and Tuesday Morning. Colliers International brokered the deal on behalf of the seller, Town Center Plaza LP.  

  • Boohoo.com’s first store to open in New York

    Boohoo.com, the England-based, low-priced fashion Web retailer, will be opening its first brick-and-mortar store in Manhattan’s Union Square neighborhood.   An opening date has not been set, but Cushman & Wakefield reported it has secured the retailer a lease for a 2,000-sq.-ft. space at 3 West 13th Street.  

  • Report: Retailers balk at through-the-roof rents on Fifth Avenue in Manhattan

    Are landlords on Manhattan’s Fifth Avenue shooting themselves in the foot by demanding record new rents for the famed shopping address?    The availability rate on Fifth Avenue increased to 15.9% in the third quarter, up from about 10% from a year earlier, according to Cushman & Wakefield Inc., Bloomberg reported.    
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