Deals

Tucson, Ariz. -- Commercial Real Estate Advisors said that Goodwill has signed a lease for 1,500 sq. ft. at Placita de Oro Shopping Center, in the Oro Valley section of Tucson, Ariz.

This will be Goodwill’s second location in the area and will be utilized as a donation center only.
 

Philadelphia -- A Wednesday report by Reuters said that discounter Five Below is said to be considering an initial public offering. 

The report, citing unnamed sources, said that the Advent International- and LLR Partners-owned chain has hired underwriters and is in discussions with bankers.

Five Below is in a growth mode and could potentially command a market valuation of over $1 billion.

New York -- Commercial real estate firm MPI announced the promotion of Andrea Olshan to CEO.

Michael Makinen has been promoted to COO and Ryan Guheen has been named senior VP asset management.

Prior to the appointment of CEO, Olshan served as MPI's COO and was responsible for the operations of the company portfolio, investment activity and external fund investments. She replaces David Lukes, who saw MPI through the reorganization of its corporate offices and senior staff.

Minneapolis -- Opus Development Corp. said Wednesday that it has been selected to develop, design and build a new 52,000-sq.-ft. retail store for Gander Mountain Co., located in Valdosta, Ga.

The retail building will be used as a model for future Gander Mountain stores as the retailer looks to introduce a smaller retail concept in small-to-mid-size markets across the country.

The project is scheduled for completion in late 2012.

Opus AE Group will design the building and it will be constructed by Opus Design Build.

Plymouth Meeting, Pa. -- Fameco Real Estate announced that Sports Clips has signed its sixth lease in the Philadelphia region as part of an aggressive store roll out campaign.

Sports Clips is focusing its efforts on the Philadelphia MSA and Fameco’s Jim Creed is spearheading the expansion in this market which includes southeastern Pennsylvania, southern New Jersey and Delaware.

Hoffman Estates, Ill. -- Sears Holdings Corp. announced Tuesday that it has named David Lukes as president, real estate development for the company.

Lukes was previously president and CEO of real estate firm Mall Properties.

Lukes has been charged with leading Sears’ efforts to further develop its real estate assets, including those that are now non-retail.

York, Pa. -- The Bon-Ton Stores has signed a lease with General Growth Properties to open a Herberger’s in Pine Ridge Mall, Pocatello, Idaho.

Remodeling is expected to begin in April 2012 and be completed by the end of October 2012.

The Pine Ridge location will be the first store in Idaho for the company.
 

HOFFMAN ESTATES, Ill. — Select Sears hometown dealer stores and Sears Hardware stores were the latest to hit the chopping block at Sears Holdings, as the company continues to implement plans to reduce expenses. The company revealed in a Wednesday document that it will close 43 Sears hometown dealer stores and 10 Sears Hardware stores over the first half of 2012.