Deals

An announcement last week that Target plans to open 21 stores in the coming fiscal year was interesting on a number of levels.

For starters, the disclosure was rather uncharacteristic for a company that in years past would publicly release its stores openings a week or two in advance of the actual openings. In this case, the company shared its full list of openings for the entire year two weeks before its new fiscal year even begins.

Tampa, Fla. -- RMC Property Group said that Dollar Tree has signed a lease to expand and relocate its store within the Temple Terrace Shopping Center, located in Tampa, Fla.

Dollar Tree will relocate to the vacant former Save-A-Lot unit, increasing the size of its store from 7,992 sq. ft. to 14,425 sq. ft.

The new store will open under the chain’s Deal$ concept, which sells some items for more than $1, offering merchandise that Dollar Tree does not sell under the $1 restricted price of its primary stores.

Conventional wisdom seems to be that Target will be as successful in Canada as it has been in the United States, following last week’s bombshell announcement that the company would enter the market via an acquisition. Target said it would acquire leasehold interests in 220 Zellers stores from the Hudson’s Bay Company, and during 2013 and 2014 it would open between 100 and 150 of the locations as Target stores.

New York City -- A Tuesday report by Bloomberg said that J. Crew Group is close to settling a shareholder lawsuit over its proposed $3 billion takeover by private-equity firms TPG Capital and Leonard Green & Partners LP.

Citing two unnamed sources, the report said that as part of the settlement, J. Crew would extend the period to solicit competing offers until Feb. 15 and add provisions that make it easier to accept a rival bid.

Port Washington, N.Y. -- Cedar Shopping Centers said Tuesday it has closed on the acquisition of Colonial Commons in Lower Paxton Township, Pa. The property was purchased for approximately $49.1 million from affiliates of Centro Properties Group.

The 487,000-sq.-ft. shopping center covers approximately 37 acres, is 93% leased and is anchored by Giant Food Stores. Other tenants include Dick's Sporting Goods, L.A. Fitness, Ross Dress For Less, Marshalls, JoAnn Fabrics and David's Furniture.

New York City -- J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J. Crew agreed in November to be taken private by the two firms. It was able to solicit higher bids until Saturday.

Los Angeles -- BH Properties announced that Ronald J. Platisha has been promoted to the newly created position of COO.

Platisha will lead the organizational operations while building and maintaining relationships with financial institutions.

Platisha, a 30-year veteran in the commercial real estate industry, has served as CFO at BH Properties for the past four years.

West Pottsgrove, Pa. -- Plymouth Meeting, Pa.-based Fameco Real Estate, L.P. said that  Carmike Cinemas has signed a lease for an approximately 46,000-sq.-ft. state-of-the-art multi-screen movie theater to be located in the  Upland Square Shopping Center, in West Pottsgrove, Pa.