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Deals

  • Pep Boys puts itself up for sale

    Several months after its CEO resigned in September, Pep Boys says it is reviewing strategic alternatives, including a possible sale, merger or other deal.

  • Bon-Ton selling stores to help pay off loan

    The Bon-Ton Stores is looking to help pay off a $105 million mortgage on 12 properties with a new deal.

    The retailer announced it will sell six properties to CPA:17-Global, a real estate investment trust of W.P. Carey, and lease them back. The deal will generate $84 million for Bon-Ton.

  • Bon-Ton sells six stores in leaseback agreement

    York, Pa. - The Bon-Ton Stores Inc. is selling six stores for $84 million to CPA: 17 – Global, a non-traded real estate investment trust (REIT) of global net lease REIT W.P. Carey Inc. Bon-Ton will lease the stores back.

    Proceeds from the transaction will be used to pay one of two of the company’s mortgage loans due in April 2016. Each loan has about $105 million in principal and consists of 12 properties. Bon-Ton is actively pursuing refinancing options for the second loan.

  • Analysis: The Gap, Art Peck, and store closures

    Retail consulting firm McMillanDoolittle has posted an interesting blog on Gap Inc.’s ongoing efforts to turnaround its troubled namesake brand. Here is the full posting:

  • Mid-America Real Estate handles sale of Chicago-area center

    Chicago - Mid-America Real Estate Corp.’s Investment Sales team recently brokered the sale of Randhurst Village in the Chicago suburb of Mount Prospect. Tarrytown, New York-based DLC Management Corp. purchased the 1,009,937-sq.-ft. regional power and lifestyle center.

    Randhurst Village national tenants include Costco, Home Depot, Jewel-Osco, AMC Theaters, Carson Pirie Scott, Bed Bath & Beyond, Sports Authority, TJ Maxx, Old Navy, PetSmart and World Market.

  • Darden plans to place 430 stores in REIT

    Orlando, Fla. - Darden Restaurants Inc. plans to separate a portion of its real estate assets through a combination of sale leaseback transactions and a new, publicly traded real estate investment trust ("REIT"). Under the plan, Darden will transfer approximately 430 of its corporate stores to the REIT, with substantially all of the REIT's initial assets being leased back to Darden.  

  • Nordstrom Rack coming to Hawaii development

    Seattle – Nordstrom Inc. plans to open Nordstrom Rack at Waikiki Trade Center in Honolulu, Hawaii. The approximately 34,000-sq.-ft., two-level store is scheduled to open in spring 2016.

    The property was acquired by Coastwood Capital Group, LLC in late 2013.

  • CBL acquires mixed-use center in Chattanooga

    WILMINGTON, N.C. — The Mayfaire Town Center and Mayfaire Community Center have been acquired by CBL & Associates Properties, a publicly traded real estate investment trust based in Chattanooga, Tenn.

    The sale, which closed June 18, is not expected to result in immediate changes that will be noticed by consumers.

    Once a horse farm, Mayfaire Town Center and Mayfaire Community Center have become one of North Carolina's premier shopping and leisure destinations.

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