Deals

Fredericton, Canada -- Plaza Retail REIT plans six new Canadian retail projects: four new re-developments and two new ground-up development projects. Four projects are located in Quebec, one in Atlantic Canada and one in Ontario.

In all, Plaza will be investing approximately $24 million for its share of these six new projects and will add approximately 155,000-sq.-ft. to its portfolio of retail properties (at Plaza's ownership percentage). The Ontario project and three Quebec projects are being developed with joint venture partners.

Dallas — Cypress Equities has acquired Brookwood Village, a mixed-use development in the affluent Mountain Brook area of Birmingham, Ala.  A fund managed by Cypress’s real estate investment management group carried out the transaction.

The 816,000-sq.-ft. center consists of a 604,000-sq.-ft., two-level enclosed mall, a 41,900-sq.-ft. grocery-anchored retail component and a nine-story 170,000-sq.-ft. Class A office building.  

New York -- Discount supermarket operator Aldi has acquired a 55-acre site in Moreno Valley, Calif., on which it will build its Southern California regional headquarters. The planned 800,000-sq.-ft. facility would serve as Aldi’s West Coast regional office and distribution center as it looks to expand into the Southern California market.

In December, Aldi announced plans to open 650 stores in the United States during the next five years.

Oak Brook, Ill. — Inland Real Estate Corporation has announced the acquisition of Mokena Marketplace in Mokena, Ill., an affluent suburb located within the Chicago metropolitan area for $13.7 million in cash.

New York — Pita Grill has signed a 12-year lease for 2,700-sq. ft. in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets. The space includes 1,350 sq. ft. on the ground floor and 1,350 sq. ft. on the lower level. The quick-service restaurant will be the chain’s ninth location since if first opened a few blocks away at West 4th Street in 1994.

New York — Pita Grill has signed a 12-year lease for 2,700-sq. ft. in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets. The space includes 1,350 sq. ft. on the ground floor and 1,350 sq. ft. on the lower level. The quick-service restaurant will be the chain’s ninth location since if first opened a few blocks away at West 4th Street in 1994.

New York — JLL has named Robert Gibson vice chairman of New York retail brokerage. He will be responsible for the growth of retail tenant and agency leasing in New York.

Most recently, vice chairman with Cushman & Wakefield Inc.’s Midtown Manhattan office, Gibson has more than 26 years of retail leasing experience in New York and nationally.

Beachwood, Ohio — DDR Corp. has announced that it sold 14 non-prime assets in the first quarter for gross proceeds of $198 million. The company’s share of the proceeds totaled $142 million. In addition, DDR currently counts 14 non-prime operating assets valued at $97 million and $36 million of non-income producing assets currently under contract. DDR expects its share of the proceeds from these transactions to come to $103.