Deals

Simpsonville, Ky. -- Following on the heels of successful outlet projects in Atlanta and Oklahoma City, CBL & Associates Properties and Horizon Group Properties announced another joint venture – to co-develop The Outlet Shoppes at Louisville, in Simpsonville, Ky.

Beachwood, Ohio -- DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.  The acquisition is slated to close in fourth quarter 2013.
 
The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR will acquire Blackstone's 95% common equity ownership interest in 30 of the shopping centers for $1.46 billion.

Boston -- The administration of Massachusetts Gov. Deval Patrick has agreed to allow the construction of a 4.5-acre complex called Fenway Center in the area around Fenway Park in the city’s Back Bay neighborhood. Developer John Rosenthal will pay $226 million in rental fees to build the development, which will include retail stores as well as homes and office buildings.

The development includes state-owned land as well as air rights over the Massachusetts Turnpike.

New York -- A Tuesday report by Reuters said that J.C. Penney Co.’s real estate holdings – including stores, DCs and headquarters – are worth a total of $4.06 billion.

An appraisal was conducted for Penney and subsequently disclosed in a presentation to potential lenders that was also filed with U.S. regulators.
 

Foxborough, Mass. -- Charter Realty & Development said that it has signed a lease with consignment boutique Chic 2 Chic at the Foxborough Plaza, a 118,844-sq.-ft. shopping center in Foxborough, Mass.

The 22,000-sq.-ft. store is a relocation from downtown Foxborough and is the company’s only current store in the state.

The Foxborough Plaza, owned and managed by WP Realty, is almost 100% occupied, anchored by Ocean State Job Lot, and also featuring Dollar Tree, Dunkin Donuts and Xtreme Fitness.

Dallas -- SRS Real Estate Partners said it has appointed Bob Taylor as senior VP in the New York office.

This is Taylor’s second stint with SRS.  In his first, he directed Hard Rock Café’s national expansion and relocation efforts. Taylor will be focused on tenant and landlord representation for the New York team, and returns to SRS from Cassidy Turley, The Staubach Co., and Staubach Retail.

Cleveland -- Marcus & Millichap Real Estate Investment Services said it has named Craig M. Fuller director of the firm’s National Retail Group and Net Leased Properties Group in Cleveland.

Fuller joined Marcus & Millichap in June 2008. He specializes in the sale of both multi-tenant and single-tenant net-leased retail investment properties throughout the Midwest with a special focus on Ohio and Pennsylvania.

Boston -- A landmark project in Boston’s Downtown Crossing has launched leasing. Millennium Partners has appointed Cushman & Wakefield as the exclusive retail leasing agent for its Millennium Tower/Burnham Building project, which is the site of the former Filene’s Department Store and consists of the landmark 1912 Burnham Building and a contemporary, mixed-use tower that will rise 625 ft. into the Boston skyline.