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Deals

  • CST Brands acquires OneStop, moves stores to partnership

    San Antonio, Texas — CST Brands Inc., through its CrossAmerica Partners LP wholly-owned subsidiary, has acquired the Charleston, West Virginia-based One Stop convenience store network. CST is also moving 29 recently constructed stores into its wholly-owned CrossAmerica partnership via two “dropdown” transactions.

  • Phillips Edison Grocery Center REIT II purchases Georgia center

    Cincinnati — Phillips Edison Grocery Center Reit II Inc. has purchased the Old Alabama Square center in Alpharetta, Ga. Old Alabama Square is a 103,268-sq.-ft. shopping center anchored by the Fresh Market.

    This acquisition adds the first Fresh Market grocery-anchored shopping center to the company’s portfolio. The center also features national tenants Walgreens, Firehouse Subs, Verizon Wireless and State Farm.

  • China approves Staples-Office Depot merger

    Framingham, Mass. — Staples Inc. has received clearance from the Ministry of Commerce of the People’s Republic of China for its proposed $6.3 billion acquisition of Office Depot. Staples continues to seek clearance from regulatory agencies in the U.S., the European Union, Canada, and Australia.

    The Commerce Commission of New Zealand gave its clearance for the transaction last week.

  • RPAI acquires Woodinville Plaza in Seattle

    Oak Brook, Ill. — Retail Properties of America, Inc. (RPAI) has closed on the acquisition of Woodinville Plaza located in the Seattle Metropolitan Statistical Area (MSA). The property was acquired on an unencumbered basis for a gross purchase price of $35.3 million.   

  • Five Below to enter Florida market; on track for 70 new stores in 2015

    Philadelphia - Five Below is entering the Florida market with the opening of nine stores on June 12. These locations, which will bring the fast-growing retailer’s store count to 400, and are part of a total 70 new stores it plans to open in 2015.

    “Entering the state of Florida, our 25th state and opening our first stores in Jacksonville, Orlando and Tampa, is very exciting as we continue to grow our footprint across the country," said Joel Anderson, CEO of Five Below.

  • Sears REIT files $1.57 billion offering, applies to list on NYSE

    Hoffman Estates, Ill. – Sears Holding Group Inc. has filed a $1.57 billion subscription rights offering with the SEC for its real estate investment trust (REIT) known as Seritage Growth Properties. The offering would give Sears shareholders the right to buy up to 53.3 million shares of the REIT at a share price of $29.58.

    Seritage also plans to sell 9.5 million class C non-voting shares to Fairholme Capital Management LLC, Sears’ second-largest shareholder, at the same price. This would give Fairholme a roughly 12% stake in Seritage.

  • Sears Canada closes sales and leaseback of three stores

    Toronto - Sears Canada Inc. has closed a transaction to sell and leaseback three properties to Concord Pacific Group of Companies. The transaction, originally announced on March 11, 2015, has closed for total proceeds of $140 million.

  • Crate & Barrel to close Manhattan flagship

    Crate & Barrel is joining Toys"R"Us and other retailers shutting down Manhattan flagship locations due to skyrocketing rent prices.

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