Deals

Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp.’s investment sales group has brokered the sale of the 301,045-sq.-ft. Mount Prospect Plaza in Mount Prospect, Ill., a northwestern suburb of Chicago.

Ramco-Gershenson Properties Trust purchased the property for $36.1 million from a pension fund advised by JP Morgan Asset Management Inc.

New York -- Bloomberg reported that Best Buy Co. has increased the size of its first bond offering since 2011 from $350 million to $500 million as it prepares to repay an equal amount of notes due July 15.

According to the report, who cited an unidentified source, the five-year securities may yield 5%; proceeds may be used to refinance debt, fund working capital or repurchase stock.

Brussels, Belgium -- Belgian grocer Delhaize Group said that it has reached an agreement to sell 25 Maxi, Mini Maxi, and Tempo stores in Montenegro to Expo Commerce.

The transaction is slated to close in the fourth quarter, and Delhaize and Expo will enter into a franchise agreement to maintain the Maxi, Mini Maxi and Tempo names.

Calabasas, Calif. -- Marcus & Millichap Real Estate Investment Services has named Paul Loubet as western region director of the national retail group.

Based in the firm’s Newport Beach, Calif., office, Loubet will direct more than 100 investment sales professionals operating from more than 25 offices comprising Marcus & Millichap’s western region.

Cranford, N.J. -- Winick Realty Group N.J. has announced the formation of an investment sales division in the company’s Cranford, N.J., office. The new division will focus on a wide range of properties from ne-leased investment-grade properties to shopping centers throughout New Jersey.

“The investment sales market is red-hot right now, with a substantial amount of business that reaches pre-recession levels,” said Tyler Bennett, senior VP and founding partner of Winick Realty N.J.

Cincinnati -- Phillips Edison-ARC Shopping Center REIT Inc. has acquired Boronda Plaza in Salinas, Calif. Food 4 Less, a subsidiary of Kroger, anchors the 93,071-sq.-ft. shopping center, which is 98% occupied.

When combined with the Food 4 Less lease, 68% of the rents for the center derive from national tenants. More information at Phillipsedison-arc.com.
 

New York -- The London Candy Co. has taken 1,000 sq. ft. on Bleecker Street in Manhattan’s West Village, according to RKF, which brokered the deal.

The new candy and coffee shop will replace the retailer’s existing location at Lexington and East 94th Street.

Dallas-Fort Worth, Texas -- Venture Commercial has completed eight retail leases spanning 133,000 sq. ft. for landlords and tenants across North Texas.

“Significant leasing activity across the area in recent months shows that the DFW market is really heating up,” said Bryan Cornelius, a partner with Venture Commercial.