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Deals

  • Loehmann’s commences going-out-of-business sale Jan. 9

    New York -- After almost 93 years, off-price specialty retailer Loehmann's is going out of business.

    On Jan. 7, the U.S. Bankruptcy Court in Manhattan approved an order authorizing a joint venture formed by SB Capital Group, LLC, Tiger Capital Group, LLC, and A & G Realty Partners, to conduct "Going Out of Business" sales in each of Loehmann's 39 locations in 11 states and the District of Columbia.  

  • Mall Properties is now Olshan Properties

    New York -- MPI — Mall Properties, Inc., a private owner, developer and operator of commercial real estate — has changed its name to Olshan Properties.

  • Cole buys Darien Towne Centre in Darien, Ill.

    Chicago — Cole Real Estate has purchased Darien Towne Centre in Darien, Ill., for $22.25 million, according to Transwestern’s Chicago office, which brokered the transaction on behalf of the seller, RPAI.

    Cole has the ability to expand the 177,002-sq.-ft. center, which was developed in 1994, by up to 12,000 sq. ft.

    Home Depot anchors Darien Towne Center, and a Wal-Mart Supercenter shadow-anchors. National tenants include PetSmart, O’Reilly Automotive, TGI Friday’s, Great Clips, Jenny Craig and Sally Beauty Supply.

  • Federal Realty acquires two retail centers in New Jersey

    Rockville, Md. — Federal Realty Investment Trust has acquired controlling interests in two shopping centers in Affluent Monmouth County, N.J., for $161 million. Both the Grove at Shrewsbury and Brook 35 are located on Route 35 and serve the emerging bedroom and second home communities of Shrewsbury, Red Bank, Rumson, Fair Haven, Little Silver, and Middletown. The acquisition was made with a combination of downREIT units, cash and the assumption of $68 million of fixed rate debt secured by the properties.

  • Cole acquires Bowling Green’s Shoppes on South Main

    Oakbrook Terrace, Ill. — Cole Real Estate Investments has acquired The Shoppes on South Main in Bowling Green, Ohio, according to Mid-America Real Estate Corp.’s (www.midamericagrp.com) investment sales team, the firm that brokered the transaction on behalf of the seller, Chase Properties.

    The 110,769-sq.-ft. shopping center features anchor tenants T.J. Maxx, Staples, Petco and Dollar General. Home Depot and a Wal-Mart Supercenter shadow anchor the center.

     

     

  • Salon 724 inks deal at Bensalem, Pa.’s Centre Plaza

    North Plainfield, N.J. — Salon 724 has leased 2,300 sq. ft. at Centre Plaza in Bensalem, Pa., according to Levin Management (www.levinmgt.com), the center’s exclusive leasing and managing agent.

    Tenants at the 43,550-sq.-ft. Centre Plaza include Curves for Women, Domino’s Pizza, LabCorp, MGM Financial Strategies Inc., First Federal Savings & Loan, A&S Bagels and Tako Japanese Restaurant.

  • Inland acquires Wedgewood Commons near Memphis

    Oak Brook, Ill. — Inland Real Estate Income Trust has acquired the 159,258-sq.-ft. Wedgewood Commons Shopping Center in Olive Branch, Miss., a southeastern suburb of Memphis, Tenn. The purchase price was $33.9 million.

    The property consists of four buildings and an existing structure suitable for the development of an additional 10,838 sq. ft. of leasable space, which would increase the center’s retail space to just over 170,000 sq. ft.

  • Law firm investigates Arden Group buyout

    Wilmington, Del. — Law firm Rigrodsky & Long, P.A is investigating potential legal claims against the board of directors of Arden Group, Inc. regarding possible breaches of fiduciary duties and other violations of law related to the company’s entry into an agreement to be acquired by global private investment firm TPG, in a transaction valued at approximately $394 million.

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