Deals

Beachwood, Ohio – During third quarter 2014, DDR Corp. closed on the acquisition of eight prime power centers and the sale of seven operating assets and two land parcels, totaling $699 million of executed transactions. Seven of the eight power centers that the company acquired were purchased for $377 million at DDR's share from a joint venture formed with Blackstone Real Estate Partners VII L.P. in August 2013.

Phoenix -- Molly Busch has joined the Capital Markets group of commercial real estate firm CBRE Group Inc. in Phoenix. A senior associate, Busch will partner with VP Andrew Fosberg.

The duo focuses on investment sales with an emphasis in retail properties. Busch comes to CBRE from Grand Canyon University, where she was the director of marketing for athletics and fan development.

Conshohocken, Pa. -- Ikea has begun significant demolition of a 30,145-sq.-ft. building adjacent to its Detroit-area store in Canton, Michigan. Razing of the vacant retail building will make room for the Swedish retailer’s planned expansion of its Canton location. The 311,000-sq.-ft. store, which opened June 2006, will grow nearly 44,000 sq. ft., with the project’s completion by summer 2015.

Washington, D.C. -- Madison Marquette Retail Services (MMRS), a national real estate development, leasing and management firm specializing in infill, mixed-use, community and specialty retail properties, has named Lori Coleman VP, management services, California. In her new role, Coleman will oversee the company’s entire California portfolio, which includes 4.8 million sq. ft. across 18 properties.

Houston - Mattress Firm Holding Corp. has completed its acquisition of the mattress specialty retail assets and operations of Back to Bed Inc., M World Mattress LLC, MCStores LLC and TBE Orlando LLC, which collectively operate Back to Bed and Bedding Experts retail stores in Illinois, Indiana and Wisconsin and Bedding Experts and Mattress Barn retail stores in Florida.

Dublin, Calif. -- Ross Dress for Less will open a new store in Colorado on Oct. 11. The store is located in Prairie Center in the community of Brighton, eight miles northwest of Denver.

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

Alpharetta, Ga. - McAlister's Deli has signed an agreement with new franchise group MidSouth Hospitality Inc. to open 10 locations in Middle Tennessee. Led by McAlister's veteran Charles Corley, MidSouth Hospitality will be opening its first McAlister's in early 2015.

The newly formed company plans to open a total of 10 new restaurants during the next seven years.

New York - MG Properties, the real estate investment and development arm of McCourt Global, is entering an equity and development partnership with Hines, the international real estate firm, on the development of its mixed-use project at 360 Tenth Ave. in New York City. MG Properties and Hines have selected SHoP Architects to design the project.

In 2013, 360 Tenth Avenue was purchased from Sherwood Equities for approximately $167.5 million. The property is zoned for up to 733,406-sq.-ft. of Total Zoning Floor Area (ZFA).