Deals

Philadelphia -- Bryn Mawr, Pa.-based WP Realty said it has acquired Mayfair Shopping Center, located in Philadelphia.

Mayfair is a single-story, 115,411-sq.-ft. community shopping center comprised of four buildings, including one bank pad (Wachovia). The center is anchored by national and regional retailers including Shop ‘n Bag, Dollar Tree and Fashion Bug.

Mayfair Shopping Center is currently 86% occupied with 16,339 sq. ft. of available retail space.

Niles, Ill. -- Tuesday Morning has signed a lease for 20,000 sq. ft. at Village Crossing in Niles, Ill., a North Shore suburb of Chicago.

According to Oakbrook Terrace-based Mid-America Asset Management, the exclusive leasing representative for the center, Tuesday Morning plans to open in January 2011 as a new anchor, joining Dick’s Sporting Goods, Jewel/Osco and Pier 1 Imports.

New York - Supervalu is having difficulty divesting its New-England-based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for-sale" sign.

According to the report, Shaw’s has been on the block for several months with no takers. Many bids from private-equity firms actually came in below the asking price.

MINNEAPOLIS — Supervalu is having difficulty divesting its New-England based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for-sale" sign.

According to the report, Shaw’s has been on the block for several months with no takers. Many bids from private-equity firms actually came in below the asking price.

Addison, Texas -- Coyote Management, LP and Garrison Investment Group, through their affiliates, announced they acquired Decatur Mall, in Decatur, Ala., and Lakeshore Mall, in Gainesville, Ga., in September and have made enhancements and changes to the properties.

A new corporate ad campaign for both malls was launched Nov. 1, and each mall has added a Customer Service Center, a new MasterCard gift-card program, children’s stroller program, new website and social media.

Jacksonville, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Jacksonville at Johns Creek Center to Tony’s New York Style Pizza.

The local pizzeria will open a 1,600-sq.-ft. restaurant in March 2011, and brings the center to 93% leased.

The 75,100-sq.-ft. shopping center is anchored by Publix alongside Great Clips, H&R Block and Bank of America.

Plymouth Meeting, Pa. -- Fameco Management Services said that Columbia Bank in conjunction with the Superior Court of New Jersey has appointed it as Rent Receiver/Property Manager for three properties in Burlington, Edison and Kenvil, N.J.

The properties include a 15,530-sq.-ft. site located in Burlington anchored by Family Dollar, a 30,000-sq.-ft. unanchored center in Edison and a vacant 28,000-sq.-ft. freestanding building in Kenvil.

Fameco Management Services is a division of Fameco Real Estate.
 

New York City -- Centro NP Residual Holding LLC said Friday it has sold a portion of its interest in 25 shopping centers and formed a joint venture with Inland American CP Investment, LLC, a wholly owned subsidiary of Inland American Real Estate Trust.

The new joint venture has secured $310 million of term loans with J.P. Morgan and Goldman Sachs, which mature in 10 years and are secured by assets within the joint venture.