Deals

Phoenix -- Cole Real Estate Investments announced the formation of a joint venture with RED Development to focus on future acquisition opportunities, recapitalizations and note purchases in the retail real estate sector. 

Vista, Calif. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Vista, Calif., at Vista Village to Five Guys Burgers and Fries. 

The restaurant leased 2,611 sq. ft. of retail space at the 232,543-sq. ft. Vista Village, which is anchored by Krikorian Premiere Theatre and Frazier Farms.

WESTBOROUGH, Mass. — BJ's Wholesale Club officially is owned by Leonard Green & Partners and CVC Capital Partners, just a few weeks after the retailer's stockholders approved the agreement.

BJ's was required in an all-cash transaction valued at $51.25 per share, or $2.8 billion.

BJ’s common stock will be delisted from the New York Stock Exchange prior to the opening of business on Monday, Oct. 3, the companies said.

The deal was announced in late June after months of speculation. BJ’s board of directors unanimously approved the agreement.

Westborough, N.H. -- Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club. The move, which takes the chain private, sets the stage for a stock delisting, effective Monday before the markets open.

The deal was announced in late June after months of speculation. BJ’s shareholders approved the buyout on Sept. 9. The chain currently operates 190 warehouse clubs in 15 states.
 

New York City -- Centro Properties Group US is changing its name to Brixmor Property Group, effective immediately. The name change follows the acquisition of the company in June by an affiliate of Blackstone Real Estate Partners VI L.P.

Brixmor is the second largest owner of community and neighborhood shopping centers in the United States with 585 properties aggregating approximately 92.0 million sq. ft. and has been a leader in value-creating redevelopment over the last decade.

New York City -- High-end Swiss cosmetic retailer La Prairie will expand its Fifth Avenue location, between 53rd and 54th Streets.

According to its real estate representative Cushman & Wakefield, La Prairie will expand and occupy an additional 9,400 sq. ft. and the entire 11th floor of its existing building. The company also occupies the entire 13th and 14th floors.

La Prairie will occupy a total of 22,110 sq. ft. in the 26-story building.

San Francisco -- Grosvenor Americas said it has appointed Steve O’Connell to the position of development manager in the company’s San Francisco headquarters office.

O’Connell will oversee the development process from property identification and purchase through design, entitlement, construction, leasing, and stabilization. He was previously with Swinerton Builders in San Francisco as a construction project manager on large urban mixed-use projects.

Indianapolis -- Kite Realty Group said that that Marco’s Pizza has leased 1,737 sq. ft. at Bridgewater Marketplace, located in Carmel, Ind. Bridgewater Marketplace has a total GLA of 55,180 sq. ft.

Great Clips has leased 1,627 sq. ft. at Naperville Marketplace located in Naperville, Ill., a 162,111-sq.-ft. center anchored by TJ Maxx, Petsmart and Caputo’s Fresh Market.

Learning Express Toys has leased 3,704 sq. ft. at Oleander Point in Wilmington, N.C., a 57,782-sq.-ft. Whole Foods-anchored center.
 

MINNEAPOLIS — Target's entry into Canada is nearing completion, as the company Friday finalized its real estate transaction with Zellers Inc. with the selection of 84 additional Zellers leases, bringing the total number of leases selected, including an initial group of 105 leases selected in May, to 189. From this second group, Target has acquired the leasehold interests for 29 locations, the vast majority of which will open as Target stores beginning in 2013. The remaining leases have been or will be sold to other Canadian retailers or back to landlords.

Chattanooga, Tenn. -- CBL & Associates Properties said Thursday that it has agreed to acquire Northgate Mall in CBL’s hometown of Chattanooga, for $11.5 million in cash.

The mall was listed for sale through an online auction. CBL anticipates closing on the transaction by Oct. 6.