Deals

Evergreen Park, Ill. — Cole Real Estate Investments has acquired a 49,225-sq.-ft. portion of the 450,000-sq.-ft. Evergreen Marketplace in Evergreen Park, Ill., for $9.9 million. Mid-America Real Estate Corporation represented the seller, Sterling Bay Companies.

The center is located just north of the northwest corner of Western Avenue & 95th Street in the near Chicago suburb of Evergreen Park. Meijer, Menards, Michaels and Ross Dress for Less. Cole purchased the portion featuring Michaels and Ross.

Bolinbrook, Ill. – Ulta Beauty will open 12 new stores in DDR shopping centers by year-end 2013.

The stores will open in DDR shopping centers in the towns of Salisbury, Md., Charlotte, N.C., Richmond, Va., Cleveland/Akron, Ohio, Toledo, Ohio, Hartford, Conn., Salt Lake City, Denver, St. Louis, and Lansing, Mich. Year-to-date, Ulta and DDR have opened six new stores, and are scheduled to open an additional six stores prior to year-end, bringing Ulta's total store count to 43 locations across DDR's portfolio.

New York -- Steven Roth, chairman and CEO of Vornado Realty Trust, resigned from the board of J.C. Penney as company plans to sell its stake in the chain.

In a filing on Friday, with the U.S. Securities and Exchange Commission, Vornado said it will exit Penney in the “not-too-distant future. The company owns about 6.1% of Penney’s shares.

New York -- In separate announcements on Thursday, Bi-Lo Holdings and Harris Teeter on Thursday announced plans to acquire select Piggly Wiggly-branded stores.

Bi-Lo said it has entered into a definitive agreement with Piggly Wiggly Carolina Company to acquire 22 Piggly Wiggly stores in South Carolina and coastal Georgia.  

Financial terms of the transaction were not disclosed.

Toronto -- Shareholders of Canada’s Shoppers Drug Mart voted in favor of the drugstore chain’s proposed acquisition by Loblaw Cos.

The transaction was approved by approximately 99.89% of the votes cast by all of the Shoppers Drug Mart shareholders eligible to vote.

As previously reported, Loblaw Cos. and Shoppers Drug Mart announced on July 15 a definitive agreement under which Loblaw will acquire Shoppers Drug Mart for C$12.4 billion in cash and stock.

West Orange, N.J. — Paul V. Profeta and Associates, a real estate investment firm, has completed the sale of 12 Walgreens properties in nine states to Inland Real Estate Acquisitions. The purchase price was $60 million or more than $330 per square foot.

All of the properties are occupied under long-term 75-year triple-net leases with the Walgreens pharmacy chain. Walgreens has the right to cancel after 25 years.

Mount Vernon, Ill. — Big Lots has signed a lease for 32,022 sq. ft. at Times Square Mall in Mount Vernon, Ill., about 80 miles east of St. Louis. The store is slated to open in the first quarter of 2014.

Monroe, Mich. -- La-Z-Boy Inc. announced it intends to acquire three La-Z-Boy Furniture Galleries stores located in the Las Vegas market, with combined revenue of approximately $11 million. Included in the transaction are two stores in Las Vegas, and one in Henderson.

New York -- The planned merger between Saks Inc. and Hudson’s Bay Company (HBC) took another step forward with the expiration of the 40-day “go shop” period for Saks on Sept. 6. As previously disclosed, the merger agreement entered into on July 28, 2013 between Saks and HBC contained a 40-day “go-shop” period during which Saks was permitted to solicit alternative proposals from third parties.

Tampa, Fla. — From January through August of this year, the RMC Property Group has leased 430,000 sq. ft. of retail space. Approximately 200,000 sq. ft. of that volume was leased during the three-month period of June through August, indicating a strong uptick in growth over the summer.

Notable deals include: