Deals

Washington, D.C. -- Commercial real estate information company CoStar Group has signed a definitive agreement to acquire LoopNet, the leading online commercial real estate marketplace.

“CoStar revolutionized how the industry researches commercial real estate and LoopNet revolutionized the way the industry markets commercial real estate," said Andrew C. Florance, president and CEO, CoStar. "We expect the combination of our companies to give the $11 trillion commercial real estate market the full benefit of the Internet."

Naperville, Ill. -- OfficeMax said Thursday that its net income dropped 53% in the first quarter.

Net income fell to $11.9 million from $25.4 million. Revenue fell 2.8% to $1.86 billion, though it beat analysts' estimates

The company blamed bad weather, store discounts and "an unfavorable product sales mix shift" in the technology department. Revenue from direct sales to business customers fell more steeply than revenue in stores.

Woodbridge, N.J. -- Fameco Real Estate announced that Scott Jennerich has joined the Fameco organization and will be based out of its Woodbridge, N.J., office.

Jennerich previously led Trinity Real Estate Advisors, a consulting company specializing nationally in retail real estate, land development and the shopping center industry. He will join Fameco as the president of Trinity Real Estate Advisors, now a wholly owned subsidiary of Fameco Real Estate.
 

Herndon, Va. -- Jacksonville, Fla.-based Regency Centers said that it has leased space at Village Center at Dulles, located in Herndon, Va., to Noodles & Co.

The 3,167-sq.-ft. store is slated to open this summer, and brings the center to 98% leased.

The 308,000-sq.-ft. shopping center is anchored by Shoppers Food Warehouse, Staples and Gold’s Gym, and also includes Starbucks, Chuck E. Cheese, Subway, GNC, State Farm and The UPS Store.

Ashburn, Va. -- Jacksonville, Fla.-based Regency Centers said it has leased space at Ashburn Farm Village Center, located in Ashburn, Va., to Advance Auto Parts.

The new, 7,134-sq.-ft. store is slated to open later this year.

The 89,000-sq.-ft. shopping center is anchored by Global Foods Market, alongside national retailers such as Hair Cuttery, Pizza Hut and Goodyear.

St. Paul, Minn. -- A partnership between St. Paul, Minn.-based Paster Enterprises and Chicago-based Shiner Capital Partners announced the purchase of Cahill Plaza, located in Inver Grove Heights, Minn.

Cahill Plaza is a 69,000-sq.-ft. shopping center that is anchored by a 52,017-sq.-ft. Cub Foods and a 6,165-sq.-ft. MGM Liquor. Additional tenants include Great Clips, RR Cleaners, C & A Nails, Edward Jones and Papa Johns.

Tampa, Fla. -- RMC Property Group announced it has acquired Carrollwood Corporate Center in Tampa, Fla., and is expanding and moving its corporate offices to the office building.

The Class A office building encompasses 20,000 sq. ft.
 

Raleigh, N.C. -- Tarrytown, N.Y.-based DLC Management Corp. announced a pair of lease signings that have transformed its Raleigh, N.C., asset Tower Shopping Center.

According to DLC, America’s Kids will open a 26,691-sq.-ft. store, marking the children’s clothing and accessory retailer’s first store in North Carolina. This is also the first America’s Kids store in DLC’s portfolio, and deals at two additional shopping centers are under negotiation.