Deals

Melville, N.Y. -- A&G Realty Partners has been retained by Delia’s Inc. to manage the sale of the 71 retail store leases following the company’s recent Chapter 11 bankruptcy filing.
 
A&G Realty is currently accepting bids thru February 2, 2015 to acquire the leases, which range from 3,000 sq. ft. to 5,000 sq. ft. in key retail locations at some of the country’s top malls.

Chicago -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Columbian Retail Shops in Chicago. Chicago-based Newcastle Limited purchased the 6,600-sq.-ft., two-tenant retail property for $2 million.

The Columbian Retail Shops is located at the northwest corner of South Michigan Avenue and East Roosevelt Road in Chicago. The center features retailers Burger Bar and Elements Therapeutic Massage.

Columbus, Ohio –  Express Inc. and private-equity firm Sycamore Partners announced that, despite having worked together in good faith towards a transaction during the past several months, discussions regarding Sycamore’s expressed interest in acquiring Express have been terminated. The companies said that discussions were halted due to the unavailability of financing on commercially acceptable terms.

In June, Express said it had been approached by Sycamore about a potential deal. Sycamore Partners has a 9.8% stake in Express.

Washington, D.C. -- Retail Properties of America, Inc., has it closed on its $162.8-million acquisition of the retail portion of Downtown Crown, a class A mixed-use project located in Gaithersburg, Maryland (Washington, D.C. MSA). RPAI acquired the project from The JBG Companies and JBGR Retail.

North Plainfield, N.J. -- Levin Management announced it has been awarded three new leasing and management assignments totaling more than 1 million sq. ft. in New Jersey and Pennsylvania. The properties include two grocery-anchored shopping centers and a regional mall.

Fort Worth, Texas – RadioShack Corp. is reportedly negotiating with Sprint to sell some of its store leases to the wireless carrier. According to Bloomberg, Sprint executives said the company is planning to expand its store count through acquisitions at an investor conference last week.

Bethesda, Md. -- Washington Prime Group Inc. has completed its previously announced acquisition of Glimcher Realty Trust, created a new company WP Glimcher, based in Columbus, Ohio.

Mark S. Ordan will serve as executive chairman of the combined company’s board of directors and Michael P. Glimcher will serve as the combined company’s CEO and Vice Chairman, reporting to Ordan.

Chesapeake, Va. – In the latest scene from the continuingly unfolding saga of the battle for Family Dollar, two proxy investment firms have switched their recommendation for Family Dollar shareholders to accept and $8.5 billion bid from Dollar Tree, rather than a $9.1 billion bid from Dollar General. Glass Lewis & Co. and Institutional Shareholder Services (ISS) both cited Dollar Tree’s bid as offering a greater likelihood of success, despite being lower.