Deals

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.

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.

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.

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.

Louisville, Ky. — GBT Realty Corp. has closed on the purchase of approximately 32 acres along Shelbyville Road at I-265 for the development of Middletown Commons in Louisville, Ky. Plans call for the first tenants to open in late 2014.

The mixed-use power center will include more than 225,000 sq. ft. of retail space and six outparcels ranging from 0.6 acres to 1.88 acres. According to GBT Realty, total development costs will likely exceed $50 million.

Private equity firm Bain Capital concluded 2013 with the acquisition of Bob’s Discount Furniture, an operator of 47 stores in the Northeast that is intent on expansion.

Bain acquired a majority ownership position in the Manchester, Conn.-based company and said senior management will continue to own a significant stake. Current CEO Ted English will continue to lead the company whose first order of business for 2014 is entry into the Philadelphia market.

Virginia Beach, Va. — Kroger has acquired 12 acres at the Hampton Roads Crossing mixed-use project in Suffolk, Va., according to Divaris Real Estate (www.divaris.com), the broker that represented the seller, Terry/Peterson Investment Thirty, in the transaction.

Kroger intends to construct a 113,361-sq.-ft. Kroger Marketplace on the site.

North Plainfield, N.J. — Mattress Warehouse has leased a 21,404-sq.-ft. space at Crossroads Place in Falls Church, Va., according to Levin Management (www.levinmgt.com), the leasing and management agent for the 336,248-sq.-ft. shopping center. The lease signing brings retail occupancy at the center to 100%. JBG Rosenfeld Retail served as the tenant’s broker in the transaction. Plans call for the new store to open in March.