Deals

Paramus, N.J. -- Ripco Real Estate has leased the former Fortunoff Building at 150 Route 17 northbound in Paramus, New Jersey, to Bob’s Discount Furniture.

Without a permanent tenant since July 2009, Ripco was hired in mid-October 2014 to lease the property.  Five months later, through the efforts of Ripco’s New Jersey team, lead by Ira Kerner and Alison Horbach, the landlord has executed a lease with the discount retailer.

Time may be running out for Toys "R" Us shoppers to ride the Ferris wheel at the retailer's flagship store in Time Square.

Toys "R" Us will not be renewing the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January.

New York -- Toys "R" Us is not going to renew the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January 2016. The ground floor of the prime space, in the heart of busy Times Square and with access to Broadway, commands a whopping $2,500 per foot per year in rent, with the second and third floors costing considerably less, according to CNN Money.

Gainesville, Fla. -- The developer of Celebration Pointe, a 225-acre mixed-used regional development located in Gainesville, Florida announced that its work on the public infrastructure improvement phase of the $200 million project is on schedule. Celebration Pointe partner Ralph Conti made the announcement.

Woodbury, N.Y. -- DJM Real Estate, a division of Gordon Brothers Group, has been retained by RadioShack Corporation to handle the disposition of seven owned industrial properties. These properties are located in Texas, California, Iowa and North Carolina.

DJM will be offering the properties for immediate sale, and can be purchased individually or in any combination, subject to U.S. Bankruptcy Court approval.

Santa Monica, Calif. – Macerich Co., a California-based mall operator whose properties include Tysons Corner Center in Tysons Corner, Virginia, has rejected a hostile $22 billion takeover bid from Simon Property Group Inc. Macerich has publicly stated it thinks the deal undervalues its portfolio and growth opportunities.

"It is truly disappointing Macerich would not even meet to discuss our proposal," said Simon Property CEO David Simon. "Macerich's rejection is based on a rosy view of its future prospects."

Foothill Rach, Calif. – A winning bidder has reportedly emerged for the assets of The Wet Seal Inc., which declared bankruptcy in January 2015. According to the Wall Street Journal, Versa Capital Management LLC will take over at least 140 store leases and invest $10 million in the specialty apparel chain.

Laval, Canada - Alimentation Couche-Tard Inc. is purchasing 21 stores, 151 dealer fuel supply agreements and five development properties through its Circle K Stores Inc. subsidiary from Cinco J Inc. The 21 stores and development properties are located in Texas, while the 151 dealer fuel supply agreements are located in the Texas, Mississippi and Louisiana.