Deals

Richmond, Va. - InvenTrust Properties Corp. has acquired Westpark Shopping Center, a 176,935-sq.-ft., 95% leased shopping center located in Glen Allen, Virginia, for $33.75 million.  
 

Des Moines, Iowa - Two leases have been signed for ground-floor retail space at The Foundry in Ames, Iowa, including Starbucks. Committed tenants for the luxury student housing complex near Iowa State University also include Barefoot Campus Outfitter.

Fairfax, Va. -- Geeknet Inc., which announced a deal on Tuesday to be acquired by teen retailer Hot Topic, said Wednesday it had received a new and higher offer. The company said it would review the new offer.

Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, said it received an offer from a "strategic buyer" that valued it at $20 per share in cash, or approximately $134.6 million.

Boston – Online specialty retailer Karmaloop Inc. has named Seth Haber as CEO. Haber is the former co-owner and director of Agenda Trade Shows.

Haber's appointment follows the recent acquisition of Karmaloop by Comvest Partners and CapX Partners, which includes all of Karmaloop's businesses; Karmaloop.com, PLNDR, Kazbah and Karmaloop Europe. Comvest and CapX will acquire Karmaloop as part of the company's voluntary Chapter 11 bankruptcy case. The sale is expected to close in early June.
 

Atlanta - Hooters of America LLC has finalized an agreement with global commercial real estate services firm Colliers International to have the firm advise Hooters on real estate needs and provide strategic counsel as the brand expands domestically and internationally. Colliers International’s Bob Browning, VP for retail services, and Robert Hantgan, senior VP, are managing the exclusive assignment.

Beyond the 10 retail real estate pros highlighted as our Under 40 Rising Stars, we handpicked another 10 as the “Ones to Watch.” Following is an alphabetical list:

Crystal Allen, age 31, VP, Transwestern

D.J.

Chesapeake, Va. – Dollar Tree Inc. plans to sell about 330 Family Dollar stores to obtain Federal Trade Commission (FTC) approval of its pending $8.5 billion acquisition of Family Dollar Stores.  

The company has not identified the buyer, the sale amount or which stores will be closed. The 330 Family Dollar stores represent about $45.5 million in operating income, according to Dollar Tree. Dollar Tree expects the Family Dollar purchase to go through in July 2015.

Seattle -- Nordstrom plans to further expand its San Diego County presence with the addition of a Nordstrom Rack at The Shops at La Jolla Village in La Jolla, California.

The approximately 32,000-sq.-ft. store is scheduled to open in fall 2016. The property is owned by Alecta Real Estate USA, LLC. When it opens, it will be the fifth Nordstrom Rack in the San Diego area and about one mile west of Nordstrom at University Towne Centre.