Deals

Macy’s reduces Pittsburgh presence
Cincinnati – Macy’s is reducing its presence in Pittsburgh. The retailer has sold its downtown Pittsburgh building at 400 Fifth Avenue to Philadelphia-based Core Realty and will close its store in that location.
Cullinan Properties purchases site in Illinois
Peoria, Ill. - Cullinan Properties has acquired an approximately 264-acre site located at the northeast intersection of interstates 55 and 80 in Joliet, Illinois. The property was purchased from O & S Holdings, LLC who acquired the property in 2008, and originally entered into an agreement to develop a project known as Bridge Street Town Center.

However, with the sale of the property, O & S Holdings has terminated the original development agreement. “

Michaels financial future unfolds as big investors exit

The private equity firms that paid a premium to take Michaels private nearly a decade ago continue to gradually unwind their majority position in the nation’s largest arts and crafts retailer.
Crossroads Towne Center sells for $52 million

Phoenix -- DTZ, a leader in commercial real estate services, announced the $52 million sale of Crossroads Towne Center in North Las Vegas -- a 148,791-sq.-ft. neighborhood retail center located on 16.34 acres -- on behalf of the sellers, a company formed by The Eagle Group, Los Angeles. The buyer was a company formed by Cornerstone Advisers of Santa Monica, California.
Trader Joe’s gets hip

New York -- Trader Joe’s is opening a store in the heart of what is arguably the nation’s hippest enclave.

The grocer has signed a lease to open an 18,000-sq.-ft. in the Williamsburg section of Brooklyn, New York, reported Crain’s New York.

Read more.
The Summit at Scottsdale acquired for $54.1 million

Phoenix -- DTZ, a leader in commercial real estate services, announced that a limited partnership formed by Weingarten Realty Investors of Houston acquired The Summit at Scottsdale, a 190,408-sq.-ft. retail center anchored by Safeway and Target, for $54.1 million.

Donahue Schriber Realty Group, L.P., of Costa Mesa, California, was the seller of the property located on the southeast corner of Scottsdale Road and Ashler Hills Drive in Scottsdale, Arizona.
Venture completes three anchor leases across Texas

Dallas -- X Team International announced that partner Venture Commercial Real Estate completed three retail anchor leases for landlords and tenants, totaling 110,000 sq. ft. across Texas.

Walmart signed a ground lease to build a 42,000-sq.-ft. Walmart Neighborhood Market store at the site of a former Brookshire Brothers at 1030 N. University Drive in Nacogdoches.

Hobby Lobby signed a lease to open a 50,200-sq.-ft. store at 2200 S. Loop 256 in Palestine.
InvenTrust announces senior management appointments

Oakbrook, Ill. -- InvenTrust Properties Corp. announced a series of appointments to its senior management team. The new appointments, effective immediately, are as follows:

· James Christensen has been named senior VP of asset management.

· Chris Dykstra has been named senior VP of property management.

· Nicole Horne has been named VP of transactions.
Nordstrom Rack in 2017 opening

Seattle -- Nordstrom remains on the move with its off-price division.
Phillips Edison buys trio of grocery-anchored centers

Photo: Central Valley Marketplace, Ceres, California

Macy’s reduces Pittsburgh presence

Cullinan Properties purchases site in Illinois

Michaels financial future unfolds as big investors exit

Crossroads Towne Center sells for $52 million

Trader Joe’s gets hip

The Summit at Scottsdale acquired for $54.1 million

Venture completes three anchor leases across Texas

InvenTrust announces senior management appointments

Nordstrom Rack in 2017 opening

Phillips Edison buys trio of grocery-anchored centers