Deals

Oak Brook, Ill. -- Inland American Real Estate Trust has announced the appointment of Thomas P. McGuinness as president. McGuinness joined Inland in 1982 and has held several executive positions throughout the Inland organization.  

In his new role, he will oversee the management of the company’s day-to-day operations, including the strategic business plan, investment decisions, asset management and financing functions for the national portfolio of 48 million sq. ft.

Farmington Hills, Mich. -- Agree Realty Corp. said it has executed two leases and completed a disposition of the company's remaining assets that were formerly leased to Borders.
 
The company has executed a lease with HomeGoods for the building formerly occupied by Borders in Monroeville, Pa. HomeGoods, a TJX Cos. banner, will occupy the space effective third quarter of 2013.

CLEVELAND — A greeting cards company announced that its board of directors has received a nonbinding proposal to go private.

American Greetings confirmed that the board received a letter from CEO Zev Weiss, president and COO Jeffrey Weiss, along with certain other members of the Weiss family and related parties, to acquire all of the outstanding class A and class B common shares of American Greetings not currently owned by the them for $17.18 per share.

Riverside, Calif. -- Vestar, in a joint venture with a fund advised by UBS Global Asset Management, announced that it has acquired Riverside Plaza, a 475,211-sq.-ft. retail center located on 35 acres in Riverside, Calif., for $84,844,000 in an all cash transaction. The acquisition marks one of the largest investment sales transactions in Southern California's Inland Empire region in the past 10 years. Vestar currently manages more than 22 million sq. ft. of retail properties in the West.

New York -- IPG Real Estate said Monday that Amish Market, a landmark Manhattan gourmet market located in the Midtown neighborhood of TriBeCa, is being offered for sale in hopes of an offer prior to an auction slated for November 2012.

The supermarket/deli features 7,500 sq. ft., including 1,000 sq. ft. of mezzanine, supported by 2,000 sq. ft. of basement space. An initial review by a court-appointed Chapter 11 trustee verified $8.2 million in sales from a September 2011 to an August 2012 time period.
 

Wilmington, Del. -- Metro Commercial Real Estate announced that Books-A-Million has signed a lease for a 30,077-sq.-ft. former Borders located at 101 Geoffrey Drive in Christiana (Wilmington), Del.

The new Books-A-Million is expected to be open before year end.

Yonkers, N.Y. -- Charter Realty & Development announced that Alamo Drafthouse Cinema will open a 25,596-sq.-ft. location at Yonkers Gateway Center in Yonkers, N.Y.

Alamo will be occupying a former United Artists Theatre – Regal Cinema with co-tenants such as Best Buy, Burlington Coat Factory, Gap, Nine West, Starbucks, DSW Shoe Warehouse and more.

San Juan -- Taubman Centers and New Century Development announced Friday the groundbreaking on the 650,000-sq.-ft. Mall of San Juan, the island's first luxury retail development. The $405 million, two-level mall will feature the first Saks Fifth Avenue and Nordstrom in the Caribbean.  

Of the approximately 100 stores and restaurants, it is expected that 60% will be new to the island.

Publix is making its North Carolina debut with the planned opening of a new store in the greater Charlotte area.

The company has signed a lease for a store at Providence Road West and Johnston Road in Ballantyne. The store will be part of a new division based in Charlotte.

While Ballantyne marks Publix’s long awaited entry into North Carolina, the company is looking ahead to continued growth within the state and in its current operating areas of Florida, Georgia, South Carolina, Alabama and Tennessee.

Seattle -- Nordstrom announced plans to open Nordstrom Rack stores in the Milwaukee suburb of Wauwatosa, Wis.; Ann Arbor, Mich., and Columbus, Ohio.

It will be the retailer's first location in the state of Wisconsin.

The approximately 36,000-sq.-ft. store in Wauwatosa, Wis., is scheduled to open in spring 2014 at The Mayfair Collection, a 250,000-sq.-ft. planned adaptive reuse development of a former industrial complex and distribution center.