Deals

Houston -- Baker Katz announced the sale of a 2.12-acre property with an existing 13,000 sq. ft. office building located in Houston, near the cross streets of U.S. Highway 59 N and West Little York Road.

Baker Katz principal Kenneth Katz made the announcement.

Auto chain Pep Boys announced Monday that a $16.50 per share takeover bid by activist investor Carl Icahn is a "superior offer" to a rival proposal by Bridgestone Retail Operations in September.

It's just the latest chapter in the ongoing saga of who gets to acquire Pep Boys, which has 800 locations in 35 states.

Pep Boys says it now prefers to take the offer from Icahn Enterprises and that Tokyo's Bridgestone Corp. has until Wednesday to up its bid.

Occupancy costs are among the largest expenses for any retailer. Total lease obligations can exceed long term debt in many companies, reducing profitability and hindering growth. It doesn’t have to be that way though if operators follow four simple rules of retail real estate.

The retail comeback of the New York City borough of Staten Island continues.

BFC Partners, which is developing Staten Island’s 340,000-sq.-ft. Empire Oulets center, announced it will develop an artisanal food market showcasing the best local and international purveyors for the center.

BFC is partnering with the creative team behind Gansevoort Market on the project.

The Lone Star State is going to get its fourth Ikea.

The City Council of Grand Prairie, Texas, has approved Ikea’s plans to build a second store in the Dallas-Fort Worth-area. Pending remaining approvals and permits, construction of Ikea Grand Prairie could begin fall 2016, with an opening in fall 2017. It will be the company’s fourth store in the state of Texas.

One of New York City’s most iconic luxury apparel stores is getting bigger.

Bergdorf Goodman will relocate its executive offices and other non-sales related functions to 4 West 58th Street, adjacent to its iconic Fifth Avenue location. The move will create an additional 25,000 sq. ft. of retail space in the retailer’s flagship, including the entire 8th and 9th floors.

Denton, Texas -- The Weitzman Group announced it’s brokered a deal with Francesca's for 1,200 sq. ft. of retail space in Golden Triangle Mall, located in Denton, Texas. This will be Francesca’s first location in Denton.

Blake Shipp with the Commercial Retail Division of The Weitzman Group and Paul Burridge with MGHerring Group handled negotiations for the mall. Robert J. Wright with Collett Southwest represented the retailer.

Hastings, Minn. -- Mid-America Real Estate announced it recently secured a new retail lease on behalf of Westview Shopping Center in Hastings, Minnesota.

Ace Hardware signed a lease for 14,980 sq. ft. at Westview Shopping Center located at the corner of South Frontage Road and Pleasant Avenue.

Ace Hardware will anchor the 130,395 sq. ft. center that is also home to Sterling Drug. The location is expected to open in spring 2016.