Deals

Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp. has brokered the sale of Danada Square East, a 202,036-sq.-ft. grocery anchored shopping center in the Chicago suburb of Wheaton, Ill. Dominick’s anchors the center.

Newport Capital Fund I purchased the property for $31,625,000 from CBRE Global Investors.

Cincinnati, Ohio -- Phillips Edison-ARC Shopping Center REIT Inc. has announced the acquisition of Sunset Center, a 164,797-sq.-ft. shopping center anchored by a 54,971-sq.-ft. Safeway.

The acquisition brings the Phillips Edison-ARC portfolio to 41 properties in 16 states with an aggregate purchase price of approximately $518.5 million.

San Bernardino, Calif. -- Stater Bros. has announced an agreement to purchase the recently closed Albertsons in Moreno Valley, Calif.

The 43,670-sq.-ft. supermarket will be the fourth location for Stater Bros. in Moreno Valley.
 

Warrendale, Pa. -- Rue21 Inc. said Wednesday that the “go-shop” period that would have allowed it to be sold to an alternate buyer has expired, edging the specialty apparel and accessories chain closer to a deal with Apax Partners.
 
In May, Rue21 reached a deal to sell itself to Apax for nearly $1 billion; terms allowed the retailer to shop competing bids until July 2. Although 60 potential buyers were contacted, none submitted a competing bid to acquire the company.
 

Chattanooga, Tenn. -- CBL & Associates Properties has announced the acquisition of two Sears locations, one at CBL’s Fayette Mall in Lexington, Ky., and the other at CoolSprings Galleria in Nashville. Sears will continue to operate in both locations until closing dates have been finalized.

“We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants,” said Stephen Lebovitz, CBL’s president and CEO.
 

Atlanta -- Developer OliverMcMillan has secured a $167 million syndicated construction loan, led by PNC Capital Markets, LLC, to finance construction of Buckhead Atlanta, the mixed-use retail, residential and office development located in Atlanta’s Buckhead neighborhood.

The loan will cover the full construction of the six-block, 8-acre complex. Five lenders are involved, including PNC Bank, N.A., CIT Finance LLC, Compass Bank, Regions Bank and SunTrust Banks.

New York -- Urban Outfitters has signed a lease for 56,730 sq. ft. on three levels at W&H Properties’ 1333 Broadway site, where the retailer will create its innovative new “lifestyle center” concept with new features never before seen from the brand, according to Anthony Malkin, president of Malkin Holdings, which supervises the W&H Properties portfolio.

The retailer will take occupancy in September.  

Alexandria, Va. -- Voila Pastry & Café has leased 1,600 sq. ft. in Huntington Station Shopping Center in Alexandria, Va.

Paraclete Realty represented Voila Pastry, and A.J. Dwoskin & Associates represented the shopping center in the transaction.