Deals

Oxford, Mich. -- X Team, an international alliance of retail real estate advisors, announced that Detroit-based partner Stokas Bieri Real Estate represented Center Management in the purchase of The Promenade at Waterside in Oxford, Mich.

Encino, Calif. -- Marcus & Millichap Real Estate Investment Services announced a number of appointments within its National Retail Group offices around the country.

Joel M. Dumes has been named director of the firm’s National Retail Group in Cincinnati; Dumes is currently VP investments for the company.

Scott J. Wiles, a seven-year veteran of the company, was named director of the firm’s National Retail Group in Cleveland, and Erin E. Patton is now director of the National Retail Group in Columbus, Ohio.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Tuesday that it completed the $270 million sale of 11 full-line Sears store locations to General Growth Properties.

Sears said the stores will continue to operate as Sears locations into 2013 or 2014, with final closing dates to be announced later this year. The stores are in Florida, Hawaii, Illinois, Iowa, Minnesota, Oklahoma, Texas, Utah and Washington.

Sears announced in December it would close between 100 and 120 stores to raise cash after a disappointing holiday season.
 

Editor’s note: Chain Store Age’s 23rd annual survey of Fastest-Growing Acquirers measured retail square footage purchased during the 2011 calendar year.

For some companies, being among the top acquirers of shopping centers almost is business as usual — top-ranked Inland Real Estate is a perennial leader, largely through avidly scouring daily for possible deals, while Kimco maintained its focus on top projects in top markets.

From Target Corp. and Big Lots to J. Crew and Express, the list of U.S. retailers expanding into Canada or scouting locations north of the border seems to grow longer every day. With its growing population, enthusiasm for U.S. brands, relatively underserved market and stable, resilient economy, Canada has become a land of opportunity— and a potentially important profit center — for American retailers. In fact, more U.S.

Atlanta -- Teavana Inc. on Monday said it will buy Canadian tea retail chain Teaopia Ltd. for $26.9 million in cash. It is Teavana's first major acquisition since it went public last year.

Teaopia operates 46 stores, primarily in high-end malls across Canada and online. Last year it generated net sales of approximately $17 million and opened 12 stores.

Teavana operates 200 company-owned stores in 39 states, including one store in Canada, and 18 franchised stores primarily in Mexico, as well as through its website.

Editor’s Note: Chain Store Age’s 23rd annual survey of Fastest-Growing Managers measures new domestic and international third-party management and leasing contracts obtained during the preceding calendar year (2011).

Now more than ever, retail real estate is not a business to be conducted without forethought. The days of gut instincts and seat-of-the-pants decisions have been replaced by the need to plan far ahead to guarantee a company’s continued growth.

New York -- Gregorys Coffee said Thursday it has executed a new lease at 878 6th Avenue (Between 31st and 32nd St.) in Herald Square, as part of the expansion efforts of the coffee shop chain throughout Manhattan.

The new site is scheduled to open its doors in June.

The two-story location will feature 1,000 sq. ft. on the second floor, set up as a training center.