Deals

Detroit -- X Team, an international alliance of retail real estate advisors, has announced a partnership between Detroit X Team Partner Stokas Realty Advisors and Detroit-based Bieri Co., resulting in the formation of Stokas Bieri Real Estate.

SBRE specializes in site selection for retailers nationwide and offers additional services, including project leasing, disposition of excess properties, restructuring, market analysis and legal services. 

Northbrook, Ill. -- Pine Tree Commercial Realty announced it has acquired Loch Leven Plaza in the Orlando, Fla. suburbs, expanding Pine Tree’s portfolio to include the state of Florida.

The company purchased the Publix-anchored shopping center in Mt. Dora, Fla., on Nov. 5. Pine Tree will be handling the property management and leasing for the center.

Publix occupies 54,340 sq. ft. at the new plaza and opened last May. The center, which was completed in March, is 99% leased.

New York City -- New Street Realty Advisors, LLC announced a lease transaction between Whitehall Properties II, LLC, the owners of The Caroline at 706 Avenue of the Americas, New York City, and Just Salad.

The 3,000-sq.-ft. ground floor space is located on the east side of Sixth Avenue between East 22nd Street and East 23rd Street.

Just Salad is slated to open in the spring.

Just Salad currently has five locations in New York City and two locations in Hong Kong.

Montvale, N.J. -- Great Atlantic & Pacific Tea Co. said late Tuesday it will sell six Pathmark stores for $89.8 million. The company said it has entered into an agreement with Winstanley Enterprises LLC, which will acquire six Pathmark stores in New York, New Jersey, Pennsylvania and Delaware.

CEO Sam Martin said the deal is part of the company's turnaround strategy. Last month, after announcing its second-quarter loss had doubled from a year earlier, the company said its turnaround plan, including cutting costs, would help improve business.

New York City -- A report circulated Wednesday said that BJ's Wholesale Club may be close to hiring an adviser to explore strategic alternatives.

According to the New York Post, which cited an unnamed source, one alternative could be a sale to a private equity firm.

Chicago -- Exiting what was labeled the biggest real estate bankruptcy in U.S. history, General Growth Properties has emerged from Chapter 11 protection as two separate companies.

The country’s second-largest U.S. mall owner said Wednesday that it has spun off Howard Hughes Corp., an owner of master-planned communities and other properties.

The shares of the newly separate General Growth, as well as the shares of Howard Hughes, will begin trading Thursday on the New York Stock Exchange.