Deals

New York — Borders Group moved closer to liquidation after a judge on Thursday approved its motion to auction itself off with an offer from liquidators as its opening bid. The retailer said it will accept bids until 5 p.m. Sunday and will give notice by Monday if no other bidder emerges.

New York — Gap Inc. is expanding its Athleta brand. The company will open eight to 10 Athleta stores in 2011, with a total of 50 expected by 2013, according to Women’s Wear Daily. 

As previously reported, Athleta will make its New York City debut this summer, opening two locations in Manhattan.

Chicago -- Jones Lang LaSalle announced Wednesday that The Kroger Co. is undertaking an initiative with JLL to conduct a strategic review of a group of its retail assets, in tandem with Kroger’s divisional real estate teams, to explore optimization strategies for a select portfolio of operating stores.

In addition, Jones Lang LaSalle has been selected, among others, to participate in developing disposition strategies for a portion of the retailer’s closed store portfolio.

New York City -- A report by Reuters on Tuesday said that a group of landlords have filed objections in U.S. Bankruptcy Court in Manhattan, disputing the process by which Borders Group is attempting to auction itself out of bankruptcy.

According to the nearly 20 landlords that filed objections on Friday and Monday, the plan offers no information regarding which leases would be assumed by potential buyers of Borders’ assets.

Houston -- Los Angeles-based Marcus & Millichap Real Estate Investment Services said that it has hired Derek Hargrove as a senior associate in the Houston office.

In his new position, Hargrove focuses on the sale of multi-tenant shopping centers throughout southwest Texas. He also holds the title of associate director of Marcus & Millichap’s National Retail Group.
 

New York City -- Dunkin’ Brands Group is seeking to raise as much as $460.6 million in its initial public offering, 15% more than the company planned in May, Bloomberg reported.

Dunkin’ Brands is offering 22.3 million shares for $16 to $18 each, the chain said in a filing with the U.S. Securities and Exchange Commission today. The company may sell an additional 3.33 million shares, given sufficient demand.

Oak Brook, Ill. -- Inland Western Retail Real Estate Trust announced Wednesday the acquisition of Sawyer Heights Village in a joint venture with RioCan Real Estate Investment Trust.

Sawyer Heights Village, a 107,626-sq.-ft. power center located just outside the central business district in Houston, was purchased for approximately $35 million. 

Jacksonville, Fla. -- Regency Centers said Tuesday it has closed on the acquisition of Calhoun Commons, a 66,150-sq.-ft. neighborhood shopping center located in Minneapolis and anchored by Whole Foods Market.

The property was purchased in an off-market transaction on July 1 for $21 million from Calhoun Commons Shopping Center Limited Partnership, a subsidiary of Doran Cos. and the original developer of the property.