Deals

A 65,798-sq.-ft. neighborhood center in the Houston suburb of Greenspoint has been purchased for $15 million, or about $228 per square foot, according to the Chron website. Deal broker CBRE said that’s one of the highest prices paid for retail space in the area on a square-foot basis.  

Several companies have reportedly expressed interest in acquiring the debt-laden American Apparel.   Brand licensors Authentic Brands Group and Iconix Brand Group are among the companies eying the chain, Reuters reported.   

On the heels of Golfsmith and The Sports Authority declaring bankruptcy, PGA Tour Superstore is picking up momentum and opening stores.     The privately held chain recently acquired a Sports Authority location in Glendale, Arizona, which it will reopen under its own banner in January 2017. PGA Tour is also planning new stores in Hilton Head, South Carolina, and in Jacksonville, Florida, with both opening in 2017.  

Until this week, Rouse Properties’ northeastern-most retail possession was The Centre at Salisbury in Maryland. But its purchase this week of an 115,000-sq.-ft. center outside of Hartford, Connecticut, gives the developer a footprint planted firmly in New England.  

In 2013, Newport Capital Partners paid just over $31 million for Danada Square East, a 200,000-sq.-ft. center in Wheaton, Illinois, anchored by a Dominick’s supermarket. Yesterday, Newport sold the property for $63 million.  

Once the mecca of “Valley Girls” lured by white marble interiors and retailers like Saks and I. Magnin, the Promenade Mall in Warner Center north of Los Angeles will be razed and replaced by a $1.5 billion mixed-use development.   Westfield, owner of the 43-year-old, 550,000-sq.-ft. mall, has announced a re-imagination of the site in line with the Los Angeles City Council’s Warner Center 2035 plan to urbanize the area.  

Gap to shut all Banana Republic stores in the U.K.   Shoppers in the United Kingdom will soon be able to buy Banana Republic merchandise only via the chain’s website.   Gap Inc. plans to close all eight of its Banana Republic stores in United Kingdom by the end of its fiscal year, Bloomberg reported.    In May, Gap announced that it planned to shut about 75 stores across its Old Navy and Banana Republic brands, with most of the closures overseas.

Dick’s Sporting Goods has cast its eye on another bankrupt sports retailer and former competitor.   In June, Dick’s acquired the intellectual property of the bankrupt Sports Authority. Dick’s is now preparing a bid for the U.S. business of Golfsmith International Holdings Inc., according to Reuters.      In making a bid, Dick’s is going up against an offer by Worldwide Golf Shops, according to the report.