Deals

Phoenix – The $8.7 billion private equity acquisition of PetSmart Inc. that was announced in December 2014 is one step closer to fruition. Argos Merger is providing a $1.9 billion senior note unsecured offering to finance the purchase.

Lafayette, Indiana -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Lafayette Pavilions Shopping Center located in Lafayette, Indiana. The 348,531-sq.-ft. regional shopping center was acquired by a real estate investment trust sponsored and managed by Phoenix-based Cole Capital for $54 million.

Lafayette Pavilions Shopping Center is located at the southwest corner of State Road 26 and Creasy Lane; it is anchored by Gordmans, Hobby Lobby, Gander Mountain, and TJ Maxx.
 

New York -- Cushman & Wakefield announced today that the real estate firm has been appointed exclusive leasing agent for the retail space at 2 Herald Square.

Located in the heart of Manhattan’s largest shopping district, 2 Herald Square touts 60,500 sq. ft. of available space spread among three floors. It features a 75-ft. storefront right across from Macy’s, and neighbors including H&M’s new Herald Square flagship, The Gap, and Victoria’s Secret’s international flagship.

Cape Coral, Fla. -- Stiles Realty announced 57,829 sq. ft. of leasing activity at Coralwood Center, one of the largest power centers in Cape Coral, Florida. HomeGoods and Ulta signed new leases totaling 33,819 sq. ft. in fourth quarter 2014. At the same time, anchor tenant Bealls Outlet has signed a lease to expand into a new 24,010-sq.-ft. store, increasing the center's occupancy to 81%.

Bellevue, Wash. -- Whole Foods Market announced its plans for continued expansion in Western Canada with three new locations: Greater Victoria, British Columbia; Edmonton, Alberta; and Calgary, Alberta.

Fort Myers, Fla. – Chico’s FAS Inc. may be the next big-name retailer to undergo an acquisition. Private equity firm Sycamore Partners is reportedly pursuing a $3 billion acquisition of the specialty women’s apparel retailer.

According to Reuters, Sycamore already has an agreement in principle to acquire Chico’s, contingent upon obtaining financing. However, Sycamore may be having difficulty finding a bank or banks willing to allow as much debt as the company is looking for.
 

Washington, D.C. -- The JCR Companies has acquired Manokeek Village Shopping Center in Accokeek, Maryland, just 10 minutes from the Washington, D.C. Beltway, for $22 million. The seller was Klaff Realty.

The 90,172-sq.-ft. grocery-anchored shopping center is located at the intersection of Manny and Berry Roads in Prince George’s County.

Anchored by Giant Food, Manokeek Village is more than 90% leased to a lineup of retailers including Starbucks, Wendy’s Advance Auto, SunTrust Bank, and 7-Eleven.

Dallas -- SRS Real Estate Partners has named Kevin Boyd as senior VP and co-market leader in the Chicago office. Experienced with local, regional, and national retailers, he will focus on tenant representation while jointly leading the Chicago team.