Deals

Fremont, Calif. — The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to June 19, 2014, unless further amended.  The tender offer was previously set to expire on June 5, 2014.

Colton, Calif. — Ashley Furniture HomeStore has opened a new store in Los Angeles. The two-story freestanding building encompasses 49,374 sq. ft.

Kennesaw, Ga. — Pep Boys has signed a 10-year lease for 5,000 sq. ft. at Orchard Square center in Kennesaw, Georgia.

According to the landlord, Westwood Financial Corp. (www.westfin.com), one of the nation’s largest privately held retail shopping center owners, the space was expanded by 1,000 sq. ft. to 5,000 sq. ft. to meet Pep Boys’ current prototype.

Senior editor Katherine Boccaccio and editor-in-chief Marianne Wilson sat down with retail real estate leaders and analysts in Las Vegas at RECon 2014.  See what each industry expert had to say about the retail landscape, trends in the industry, and projects to keep an eye on.

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Hudson's Bay Company more than doubled sales in the first quarter driven primarily by its acquisition of Saks last year.

Retail sales were $1.9 billion, an increase of $971 million from $884 million for the prior year. Consolidated same-store sales increased by 2.8%, with increases of 2.5% at DSG, 2.6% at Saks Fifth Avenue and 15.1% at Off 5th. Digital commerce sales totaled $207 million, reflecting both the inclusion of Hudson's Bay and Lord & Taylor (which together are referred to as “Department Store Group” or DSG) and Saks.

San Diego - Retail Opportunity Investments Corp. (ROIC) has entered into a binding contract to acquire Fallbrook Shopping Center for $210 million in cash. The property is located in West Hills, California, and has approximately 1.12 million sq. ft. of gross leaseable area, of which 98% is currently leased.

ROIC expects to close the transaction during the second quarter of 2014.

San Bernardino, California -- Plans are well underway to open two new state-of-the-art "Blue Ribbon" Stater Bros. Supermarkets in California, with one in Covina (Los Angeles County) and the other in Menifee (Riverside County).  

Bronx, N.Y. — Triangle Equities has reached several milestones in the development of the $35 million, 88,000-sq.-ft. Triangle Plaza Hub at 149th Street in Bronx, New York. The development aims to help revitalize a generally underserved area with a mixed-use commercial and community facility located at a transit center that serves 200,000 people daily. Vista Optical has also leased space.

To date, Triangle’s accomplishments include signing two key anchor tenants: Fine Far supermarket and Metropolitan College of New York.

Charlottesville, Va. — Firehouse Subs has signed a 2,264-sq.-ft. lease for its first location in Charlottesville, Virginia — at 100 Shoppers World Court.

Divaris Real Estate’s Richmond, Virginia, office represented Firehouse Subs in the transaction. Divaris (www.divaris.com) has represented Firehouse in the site selection and lease negotiations for the majority of its Hampton Roads sites and for several locations in the greater Richmond area.

South Plainfield, N.J. — Advance Auto Parts has signed an 11,382-sq.-ft. lease at Oak Park Commons in South Plainfield, New Jersey, bringing the center’s occupancy rate up to 95%. Charter Realty & Development co-brokered the transaction with NJ Commercial Realty.

The auto parts retailer will be joining Dollar Tree, A&P, McDonalds, CVS, Subway, GNC, Wells Fargo, Goodyear, RadioShack, and H & R Block.