Deals

Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp. announced the promotions of two senior VPs to partners.

Andy Bulson is responsible for the management of Mid-America’s Suburban Tenant Representation Team, representing numerous national retailers throughout the Chicagoland area. Dan Tausk oversees Mid-America’s Urban Retail Team, representing both retail landlords and tenants in urban Chicago and its neighborhoods.

Moorestown, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust announced that it has executed a deal with Regal Entertainment Group to build the Regal Moorestown Mall Stadium 12 & Regal Premium Experience at Moorestown Mall, in southern N.J.

The 56,000-sq.-ft., 12-screen theatre is slated to open in time for the 2013 summer movie season.

Beachwood, Ohio -- Buyout firm The Blackstone Group and real estate investment trust DDR Corp. will buy 46 shopping centers owned by EPN Group for $1.43 billion, which includes the assumption of at least $945 million in debt.

Blackstone Real Estate Partners VII, an affiliate of Blackstone, will own 95% of the joint venture. DDR will own 5% and invest $150 million in preferred stock with a fixed dividend rate of 10%.

Toms River, N.J. -- Fameco Real Estate said it has signed a lease with Tardi’s Ristorante at Bellcrest Plaza, located in Toms River, N.J.

Owned by H. Hovnanian Industries, Bellcrest Shopping Plaza is a 106,000-sq.-ft. neighborhood shopping center formerly anchored by Foodtown but still home to Planet Fitness, Burger King and Provident Bank.
 

Dallas -- SRS Real Estate Partners said it has hired Stephanie Estabrook as a research consultant in the Denver office.

Previous to SRS, Estabrook worked for Edgemark Development where she was responsible for research and acquisitions.

Atlanta -- Jones Lang LaSalle said Tuesday it has been selected by Boscov’s as the leasing agent for two retail centers in Pennsylvania – Lebanon Valley Mall (Lebanon) and The Mall Steamtown (Scranton).

Lebanon Valley Mall is a 402,400-sq.-ft. regional shopping center anchored by Boscov’s, Hobby Lobby and The Great Escape Theatres. The Mall at Steamtown is a 563,800-sq.-ft. mall anchored by Boscov’s, Boscov’s Furniture Outlet, and Bon Ton.

Smart move by Target to open its first wave of Canadian stores in Ontario, as the province accounts for roughly one third of the nation’s 36 million residents and is home to Target Canada headquarters and distribution facilities.

Wayne, N.J. -- Fameco Real Estate said that recently completed deals with Hand & Stone Massage and Facial Spa and C2 Education have brought Plaza Square in Wayne, N.J., to 98% occupancy.

The 103,000-sq.-ft. center is owned by Jacksonville, Fla.-based Regency Centers and is anchored by ShopRite, Bank of America, Dollar Power, Bensi Italian Restaurant and Wendy’s.