Deals

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.

San Clemente, Calif. -- Centro Properties Group said that a 1,198-sq.-ft. lease has been executed with Sports Clips at Ocean View Plaza, in San Clemente, Calif.

New York City-based Centro is the owner of Ocean View Plaza.
 

New York City -- Chicago's City Council on Thursday approved a $1 million property tax break for Costco Wholesale Corp. to build its second store in the city, Chicago Business reported.

The tax break was introduced by Mayor Richard M. Daley at a December City Council meeting. He asked that the retailer receive a $1 million tax break over 12 years for a store to be built at 14th Street and Ashland Avenue.

Coconut Creek, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Coconut Creek, Fla., at Caligo Crossing to The Chill Thrill.

A self-serve frozen yogurt and ice cream store, The Chill Thrill has leased 1,300 sq. ft. and is slated to open in April.

The 108,927-sq.-ft. shopping center is anchored by Kohl’s.

Jacksonville, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Jacksonville, Fla., at Shoppes at Bartram Park to Jacksonville Running Co.

Specializing in the sale of running footwear and apparel, Jacksonville Running Co. has leased 1,600 sq. ft., bringing the center to 94% leased.

The tenant is slated to open for business in the spring.

The 119,376-sq.-ft. shopping center is anchored by Publix alongside The UPS Store, Massage Envy, Five Guys Burgers and Fries and Panera Bread.