Deals

Minneapolis -- Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years. The company announce that it has agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudson's Bay Co., the leasehold interests in up to 220 sites currently operated by Zellers. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.

Boca Raton, Fla. -- Office Depot is buying Swedish office supply company Svanstroms Gruppen in order to expand its presence there.

Terms were not disclosed.

Office Depot first entered the Swedish market in 2004 through a strategic alliance with AGE Kontor & Data AB.

"We've been successful in this market and see continued growth and high potential in the region," said Charlie Brown, president of Office Depot's international division, said in a statement on Tuesday.

New York City -- Reports circulated Wednesday that several potential suitors, including Sears Holdings and Urban Outfitters, have been studying J. Crew’s books. Urban Outfitters is seriously weighing a counterbid for the high-flying preppy retailer, according to a report in The New York Times. At least two other private-equity firms are also receiving confidential data on the New York-based retailer, Bloomberg reported.

West Bridgewater, Mass. -- Shaw's Supermarkets has announced that it will close five unprofitable stores in Massachusetts and Rhode Island by the middle of next month.

The company said in a statement that it decided "only after careful evaluation" to close the stores. The Massachusetts stores are in New Bedford, Stoneham and Revere. The Rhode Island locations are in Johnston, and on Bald Hill Road in Warwick.

The stores will be closed by Feb. 17.

Plymouth Meeting, Pa. -- Fameco Real Estate, L.P. said that coffee retailer La Colombe Torrefaction has signed a lease for 1,230 sq. ft. at The Residences at the Ritz Carlton, in Philadelphia.

The new location is slated to open April 2011 and will complement La Columbe’s other location on Rittenhouse Square, also in Philadelphia.

New York City -- Prudential Douglas Elliman's Retail Group said that it has arranged another location for Bond No. 9, this time in Meatpacking at 863 Washington Street, between 13th and 14th Streets, near the edge of the High Line.

The new store represents the fifth New York City location orchestrated by Prudential Douglas Elliman for the fragrance retailer.

Plymouth Meeting, Pa. -- Fameco Real Estate, L.P. said that Patel Bazaar and Spice Kitchen have signed leases for 6,900 sq. ft. along the 422 Corridor in Montgomery County, Pa.

Patel Bazaar, an Indian grocery store, has signed a 4,900-sq.-ft. lease at Jefferson Plaza Shopping Center in West Norriton Township. The grand opening is scheduled for January 14. Spice Kitchen, an Indian restaurant, has signed a lease for 2,000 sq. ft. at the Park Ridge Shopping Center in Trooper. The center is anchored by Acme. Spice Kitchen opened its doors several weeks ago.

London -- A Tuesday report by the Financial Times said that Andy Bond, former CEO of Asda, has left his post of part-time chairman of the United Kingdom’s second biggest supermarket by market share, a position that he has held for less than a year.

The report also said that Bond will leave Walmart as well, which owns Asda, once its $2.4 billion deal to acquire a majority stake in South Africa’s Massmart is complete around the end of March.

Tempe, Ariz. -- Vestar’s Tempe Marketplace open-air shopping center, located in Tempe, Ariz., was recognized by the International Council of Shopping Centers with a Silver Sustainability Award in ICSC’s annual U.S. Design and Development Awards.

Designed to recognize outstanding projects for excellence in the creation of new retail projects, and in the expansion or redevelopment of existing projects, Tempe Marketplace was chosen for its sustainability, innovative design and development of the property since its build out.

New York City -- J. Crew is seeking $1.85 billion of debt to help fund its $3 billion buyout by TPG Capital and Leonard Green & Partners LP.

Bank of America Corp. and Goldman Sachs Group are arranging a $1 billion seven-year term loan, $600 million in senior unsecured notes and a $250 million five-year asset-based revolving line of credit, according to a commitment letter attached to a regulatory filing, Bloomberg reported.