Deals

Lakeville, Minn. - Mid-America Real Estate Corp.’s investment sales team recently brokered the sale of Heritage Commons in Lakeville, Minnesota (part of the Minneapolis metropolitan statistical area) to Austin, Texas-based Epic Real Estate Partners. Epic purchased the 138,690-sq.-ft. grocery-anchored neighborhood center.

Heritage Commons is anchored by Cub Foods and is complemented by national and local tenants including Subway, Papa Murphy’s, Great Clips and American Dental.

Canton, Mass. – “California, I’ll be knocking on the golden door.” Dunkin’ Donuts executives may find themselves singing these words from the Grateful Dead classic “Estimated Prophet” as the coffee retailer pursues a massive expansion strategy in the most populated U.S. state.

Tampa, Fla. – The U.S. is known as a melting pot, and now a major U.S. casual dining chain wants to turn the world into a melting pot of consumers of its food. The Melting Pot Restaurants Inc. has partnered with commercial real estate advisory firm Newmark Grubb Knight Frank (NGKF) to support a long-term domestic and international expansion strategy.

Montvale, N.J. – The rumors are true. As expected, the Great Atlantic & Pacific Tea Company Inc. (A&P) has filed for Chapter 11 bankruptcy.

In a brief statement on its website, privately held A&P says it has secured financing of $100 million and voluntarily filed for chapter. A&P has also entered agreements to sell 120 stores for $600 million and will close more of its 296 stores in the near future.

Northeast grocery chain A&P may not have been able to make a go of it, but other retailers are already looking to capitalize on the failed supermarket's real estate holdings. 

Ross Stores is crossing off a big chunk of its to-do list as the retailer moves forward with its plans to open 90 stores in 2015.

New York — Macy’s is feeling the heat — from an activist investor and Donald Trump.

Activist investor Starboard Value wants the department store giant to follow the example set by such other retailers and Sears Holdings and Hudsons Bay Company and capitalize on its real estate holdings by spinning them off into a new investment vehicle. 

Starboard claims the move would double Macy’s stock value, Fortune reported. For more click here.

New York — C. Wonder, which shuttered all its stores and filed Chapter 11 early this year, is getting a second chance—sort of.

Xcel Brands has entered into a definitive agreement to acquire the C. Wonder brand from Burch Acquisition LLC. The deal gives Xcel  the rights to thr C. Wonder trademarks, related designs and other intellectual property rights.

 The closing of the acquisition is subject to board approval

Macy's Inc. should split off its real estate holdings into a separate company to maximize shareholder value, Starboard Value hedge fund manager Jeffrey Smith said during an investor presentation, according to several news reports.

According to the Wall Street Journal, Smith said Wednesday it had taken a stake in Macy’s and is pushing the department store chain to spin off some of its real-estate assets.

Oak Brook, Ill. - Retail Properties of America Inc. (RPAI) is shuffling some executives as part of a strategic realignment of its operating platform geographically between the eastern and western regions of the country. Timothy Steffan, former senior VP, asset management and commercial leasing for Macerich's eastern region, has joined RPAI as divisional president – eastern region.