Deals

Bentonville, Ark. -- Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd. According to Bloomberg, which on Monday reported Naivas was one of several possible Kenyan chains eyed by Massmart for possible expansion, serious talks with Naivas have occurred.

New York — Snack Taverna, the popular West Village restaurant in New York City, has signed a lease to extend its concept into a 1,100-sq.-ft. space in Hell’s Kitchen, according to Winick Realty Group, which represented the tenant in the transaction.

Hilton Head Island, S.C. — SERG Restaurant Group has announced that it has signed a letter of intent to create of a new restaurant for Shelter Cove Town Center. The concept for the new restaurant has been in development for three years and will open in 2014. Details were not announced.

Virginia Beach, Va. — Two Firehouse Subs shops opened Monday, an 1,800-sq.-ft. location in Virginia Beach’s Strawbridge area and a 2,400-sq.-ft. location in Hampton’s Coliseum Central.

Divaris Real Estate represented the sub shop in negotiations for each location.

Chicago — Saks Fifth Avenue Off 5th, Old Navy and Carter’s have inked leases for space at The Mayfair Collection, a 270,000-sq.-ft. shopping center in Wauwatosa, Wis. Nordstrom Rack, Dick’s Sporting Goods and Ulta Beauty have also made lease commitments to the project.

HSA Commercial Real Estate, the developer, broke ground on the project in April. HSA Commercial is adaptively repurposing an obsolete warehouse development into The Mayfair Collection retail shopping center.

Pooler, Ga. — The Olive Garden, Panera Bread, Moe’s Southwest Grill, Jersey Mikes Subs and Jalapenos Mexican Grill have all inked deals with GBT Realty Corporation for space in Village on Pooler Parkway, a 143,000-sq.-ft. shopping center now under development in Pooler, Ga.

The Panera shop will occupy a freestanding building with a drive-through, making it one of the first locations in the market to feature Panera’s new prototype.

Mooresville, N.C. -- The Aug. 9 deadline for additional bids on the proposed purchase of Orchard Supply Hardware by Lowe’s Companies Inc. has passed with no activity. This means Lowe’s can move ahead with plans to acquire the majority of assets of Orchard Supply Hardware, including 72 stores, for approximately $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners, first announced June 17.

CAMDEN, N.J. — Campbell Soup Company announced that it is in final and exclusive negotiations for the potential sale of its business in Europe to CVC Capital Partners, a leading global private equity firm. 

Newell Rubbermaid has announced plans to sell its hardware business to Nova Capital, a firm that specializes in the acquisition of corporate and private equity portfolios, for $214 million.

Specifically, components of the sale include Newell's Amerock, Ashland, Drapery Hardware, Bulldog and Shur-Line brands. Sales for 2013 came in at $255 million so far, with gross proceeds resting at $214 million.

New York – Law firm Morgan & Morgan is investigating potential legal claims against the board of directors of Saks Inc. relating to the proposed acquisition of Saks by Hudson's Bay Company. Morgan & Morgan's investigation concerns whether Saks' board of directors breached its fiduciary duties to act in the best interests of Saks' shareholders and to take all necessary steps to ensure that Saks' shareholders receive the maximum value readily available for their shares of Saks common stock.