Deals

Cincinnati -- The Kroger Co. has reached an agreement to purchase all outstanding shares of Harris Teeter Supermarkets for $49.38 per share in cash, or about $2.5 billion. Kroger will finance the transaction with debt and also assume about $100 million of debt from Harris Teeter.

Harris Teeter operates 212 stores in North Carolina, Virginia, South Carolina, Maryland, Tennessee, Delaware, Florida, Georgia and the District of Columbia primarily in the Carolinas. The company had revenues of approximately $4.5 billion for fiscal year 2012.

Purchase, N.Y. -- Chipotle Mexican Grill has opened at Orange Plaza, an 815,000-sq.-ft. Middletown, N.Y. power-center owned by National Realty & Development Corp.

Orange Plaza’s anchors include a Wal-Mart Supercenter, The Home Depot, Kohl’s Department Store, Burlington Coat Factory, Marshalls, Bed Bath & Beyond and Staples.

The center draws shoppers from a 12-mile radius with a population of more than 157,000. Approximately 20,000 of the 46,000 vehicles passing the center every day are shopping center destination trips.

New York -- Jones Group Inc. has tapped Citigroup Inc. to explore a possible sale, according to Reuters.
 
In April, Jones Group said that it would close 170 stores and cut 8% of its workforce after first-quarter profit was less than analysts’ estimates. The news comes just months after activist hedge fund

The company, whose brands include Stuart Weitzman, Jones New York, Easy Spirit, and Nine West, had a market value of about $1.2 billion as of July 5.

New York -- Belle Foods plans to close 13 stores by Aug. 3, including six in Alabama, according to a report by the Birmingham Business Journal. The shutters are part of a reorganization following the chain’s Chapter 11 bankruptcy filing.

Of the 13 store closures, 12 are Food Worlds and one is a Piggly Wiggly.

Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp. has brokered the sale of Danada Square East, a 202,036-sq.-ft. grocery anchored shopping center in the Chicago suburb of Wheaton, Ill. Dominick’s anchors the center.

Newport Capital Fund I purchased the property for $31,625,000 from CBRE Global Investors.

Cincinnati, Ohio -- Phillips Edison-ARC Shopping Center REIT Inc. has announced the acquisition of Sunset Center, a 164,797-sq.-ft. shopping center anchored by a 54,971-sq.-ft. Safeway.

The acquisition brings the Phillips Edison-ARC portfolio to 41 properties in 16 states with an aggregate purchase price of approximately $518.5 million.

San Bernardino, Calif. -- Stater Bros. has announced an agreement to purchase the recently closed Albertsons in Moreno Valley, Calif.

The 43,670-sq.-ft. supermarket will be the fourth location for Stater Bros. in Moreno Valley.
 

Chattanooga, Tenn. -- CBL & Associates Properties has announced the acquisition of two Sears locations, one at CBL’s Fayette Mall in Lexington, Ky., and the other at CoolSprings Galleria in Nashville. Sears will continue to operate in both locations until closing dates have been finalized.

“We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants,” said Stephen Lebovitz, CBL’s president and CEO.
 

New York -- Urban Outfitters has signed a lease for 56,730 sq. ft. on three levels at W&H Properties’ 1333 Broadway site, where the retailer will create its innovative new “lifestyle center” concept with new features never before seen from the brand, according to Anthony Malkin, president of Malkin Holdings, which supervises the W&H Properties portfolio.

The retailer will take occupancy in September.  

Atlanta -- Jones Lang LaSalle has closed the sale of Shiloh Square Shopping Center on behalf of Torchlight Loan Services. Phillips Edison-ARC Shopping Center REIT Inc. purchased the 139,720 sq. ft. Kroger-anchored center.

“Shiloh Square is strongly positioned in one of Atlanta’s largest suburbs of Kennesaw, serving more than 70,000 residents within a three mile radius,” said Margaret Caldwell, managing director with JLL.