Deals

Minneapolis -- Consumer electronics retailer Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.

Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.

MINNEAPOLIS — Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.

Best Buy Co. will also pay Carphone 29 million pounds (about $45 million) related to existing agreements that will be terminated when the deal closes. The U.S. retailer also said that it will incur an approximately $200 million asset impairment charge related to the stake sale.

New York -- SL Green Realty Corp. and The Moinian Group announced they have appointed Winick Realty Group to exclusively market the former Daffy’s location at 3 Columbus Circle, in Manhattan.
 
The multi-level retail site is situated in the center of the 57th Street corridor, in close proximity to the new Nordstrom location that is set to open in 2018.     

Chicago -- Jones Lang LaSalle announced the addition of Larry Kilduff, Claire Bitautas and Anne Imming to its retail team.

Kilduff will serve as a VP and the retail management lead in the Midwest. Bitautas and Imming will serve as VPs on the brokerage team focusing on the downtown and suburban Chicago market. In their new roles they will partner with Midwest retail market lead Mark Hunter.

Chicago -- Marcus & Millichap Real Estate Investment Services said it has named Stephen Rachman as regional manager of its Chicago O’Hare office.

Rachman began his career at Marcus & Millichap in 2002 as an agent in the firm’s Chicago O’Hare office and, in 2004, relocated to the Chicago Downtown office. Named senior associate in 2005, and then VP investments in March 2013, Rachman returned to the Chicago O’Hare office in March.
 

Melville, N.Y. -- A&G Realty Partners announced Monday that former executive VP of real estate for Charming Shoppes, Jonathon Graub, has joined the firm as principal.

Graub will leverage his background to advise clients on strategic growth opportunities and to assist with their real estate operations.
 

MELVILLE, N.Y. — Retail real estate industry executive Jonathon Graub has joined A&G Realty Partners, a leading commercial real estate, advisory and investment group, as principal. Graub will advise A&G Realty’s retail clients on strategic growth opportunities and assist with their real estate operations.

New York -- A Friday report by CNBC said that Goldman Sachs has lined up a $1.75 billion financing package for J.C. Penney Co., backed by the retailer’s real estate and other assets.

The news, which has not yet been confirmed by Penney, comes a day after investor George Soros reported a 7.9% stake in the company.

Earlier this month, Penney borrowed $850 million from its $1.85 billion revolving credit facility to boost its cash position and buy inventory.

Rye Ridge, N.Y. -- The Charter Realty Group said that it has arranged its second transaction on behalf of SoulCycle for a 2,350-sq.-ft. space at Rye Ridge Shopping Center, located in Rye Brook, N.Y.  

Charter previously represented SoulCycle, an indoor fitness cycling center, in a 7,000-sq.-ft at One Fawcett Place in Greenwich, Conn.
 

Dallas -- S&S Enterprises said it has sold a portfolio of 12 Sunoco fuel centers and convenience stores in central and southeast Florida for $32 million to entities managed by Cole Real Estate Investments.

The portfolio consists of 37,275 sq. ft., with seven of the 12 locations having been redeveloped and all locations having received 20-year lease extensions.