Deals

Toms River, N.J. -- Fameco Real Estate said it has signed a lease with Tardi’s Ristorante at Bellcrest Plaza, located in Toms River, N.J.

Owned by H. Hovnanian Industries, Bellcrest Shopping Plaza is a 106,000-sq.-ft. neighborhood shopping center formerly anchored by Foodtown but still home to Planet Fitness, Burger King and Provident Bank.
 

Dallas -- SRS Real Estate Partners said it has hired Stephanie Estabrook as a research consultant in the Denver office.

Previous to SRS, Estabrook worked for Edgemark Development where she was responsible for research and acquisitions.

Wayne, N.J. -- Fameco Real Estate said that recently completed deals with Hand & Stone Massage and Facial Spa and C2 Education have brought Plaza Square in Wayne, N.J., to 98% occupancy.

The 103,000-sq.-ft. center is owned by Jacksonville, Fla.-based Regency Centers and is anchored by ShopRite, Bank of America, Dollar Power, Bensi Italian Restaurant and Wendy’s.
 

Beachwood, Ohio -- DDR Corp. announced Friday new Five Below stores in consolidated small shop and downsized junior anchor locations at five Atlanta-area shopping centers.

DDR said the new locations represent the continuation of efforts to strategically reduce small-shop space as well as rightsize junior anchors and re-lease the residual space at attractive market rents. At the locations where Five Below will be occupying downsized space, DDR will realize rental increases of nearly 50%.

Minneapolis -- Target Corp.’s plan to open 125-135 stores in Canada is rapidly taking shape, as the retailer has released the locations of its first 24 stores in the country.

As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc.

The majority of Target’s initial two dozen stores will open in early 2013, and include four locations in Toronto (Centrepoint Mall, Cloverdale Mall, Shoppers World Danforth and East York Town Centre).

PLEASANTON, Calif. — Safeway on Thursday announced the sale of 16 of its Genuardi's stores in the greater Philadelphia area to Giant Food Stores, a division of Ahold USA. Safeway will continue to operate these stores until the transaction closes, and the company is working through an orderly transition for all of these stores.

In addition, Safeway plans to close three Genuardi's stores and sell the remaining eight Genuardi's stores, which it will continue to operate while it is working with potential buyers.

Pleasanton, Calif. -- Safeway Inc. is exiting the Philadelphia market. The company announced it has reached a definitive agreement to sell 16 of its Genuardi's stores in the greater Philadelphia area to Giant Food Stores, LLC, a division of Ahold USA.

The deal is valued at $106 million.

In addition, Safeway plans to close three Genuardi's stores and sell the remaining eight Genuardi's stores, which it will continue to operate while it is working with potential buyers.

New York City -- Macy’s Inc. announced a strategic plan on Wednesday to open new stores in select markets as well as to close a series of underperforming units. As part of the plan, five Macy’s department stores will be shuttered in spring 2012 – in Topeka, Kan.; Laurel, Md.; Parma, Ohio; Antioch, Tenn.; and Texas City, Texas. Five new Macy’s stores will open in 2012 and 2013.

New York City -- A Wednesday report in the Wall Street Journal said that Barnes & Noble Inc. has put its Sterling Publishing business up for sale.

Barnes & Noble acquired Sterling in 2003 for about $115 million.

New York City -- Sears Holdings Corp. has identified 79 of the 100 to 120 Sears and Kmart stores it said last week it would close, with the preliminary list split almost evenly between the two chains.

Florida will be hit the hardest, with 11 stores to be shuttered, the Associated Press reported. Ohio, Michigan and Georgia are not far behind with six store closures planned in their states. Tennessee, North Carolina and Minnesota are set to lose four stores each.