Deals

The Nov. 24 edition of SiteTalk invited readers to suggest what they thought would be most talked-about in the aisles of the International Council of Shopping Centers New York deal-making conference. Here is what one reader had to say:

 "I expect to hear people complimenting our new Roundtables (Tuesday, Dec. 7, 8-9 a.m.) at the Sheraton. Also, if Black Friday and the start of holiday shopping season match retailer expectations (as shown in our pre-holiday tenant survey), I expect to hear about more deals being made."

Phoenix -- Vestar Development Co. and Rockwood Capital on Tuesday acquired Tempe Marketplace for $280 million by buying out an original partner. In conjunction with the closing, Tempe Marketplace received a new $200 million permanent financing package from GACC.

Vestar was the developer of Tempe Marketplace and had previously partnered with DLJ/Credit Suisse. Both Rockwood and Vestar made significant investments in the acquisition. Under terms of the deal, Vestar will be the managing partner.

Los Angeles -- Commercial real estate investment banking firm George Smith Partners, has completed a $17.2 million, two-phase, construction loan transaction in Oxnard, Calif., for Upside Investments.

New York City -- Activist investor Bill Ackman’s Pershing Square Capital Management raised its stake in Borders Group from 31.5% to 37.3% and is prepared to finance an offer by Borders to buy larger rival Barnes & Noble, according to a filing with the Securities and Exchange Commission Monday.

According to the statement, Ackman is prepared to finance an offer by Borders to buy all of Barnes & Noble’s stock in an all-cash transaction valued at $16 per share, which would amount to about $960 million, based on the shares outstanding.

Houston -- Houston-based commercial real estate brokerage Baker Katz, an X Team partner, announced that it has acquired a former Hollywood Video building at Grogan’s Mill and Sawdust in The Woodlands, Texas. 

As part of an investment fund dedicated to real estate development, acquisition and ownership, Baker Katz purchased the 7,500-sq.-ft. building that is located near the area’s newest Wal-Mart Supercenter in The Woodlands, and plans to renovate and expand the building, subdivide it and re-lease the new spaces to individual tenants.

New York City -- Robert K. Futterman & Associates said it has completed a 7,800-sq.-ft. retail lease with Nadeau at 57 East 11th St. in New York City’s Greenwich Village.

The furniture retailer will occupy a combined 4,300 sq. ft. on the ground floor and 3,500 sq. ft. in the basement and is scheduled to open in first quarter 2011. This will be the first New York City location for the brand.

Nadeau is headquartered in Santa Monica, Calif., and currently has 15 locations nationwide.

Apollo Beach, Fla. -- Tampa, Fla.-based RMC Property Management Group announced that Dollar Tree will open a new 9,500-sq.-ft. store at Summerfield Crossing Plaza, located in Apollo Beach, Fla.

The Dollar Tree Store will be constructed adjacent to a new 80,000-sq.-ft. Bealls department store.

Dollar Tree is slated to open April 2011.

Cleveland, Tenn. -- Atlanta-based Jones Lang LaSalle said it has completed the sale of Bradley Square Mall in Cleveland, Tenn., to Baton Rouge, La.-based MD Ruston Properties, LLC on behalf of a special servicer.

The 406,845-sq.-ft. regional mall is anchored by Belk, J.C. Penney, Sears and Kmart.