Real Estate

New York City -- BJ’s Wholesale Club is in the sights of private equity firm Leonard Green & Partners, which may pursue a hostile bid for the chain, according to The New York Post.

The Los Angeles-based buyout firm may make a bid if no auction occurs in coming weeks, the report said, citing an unidentified person close to the situation. BJ’s planned an auction to sell itself after an earlier bid from Leonard Green, according to the newspaper.

New York City -- Off-price retailer Daffy’s is launching an expansion push, including opening a store in Manhattan’s Times Square in the former home of the New York Times, Crain’s New York Business reported.

The 28,000-sq.-ft. Times Square store, to be located on West 44th Street between Seventh and Eighth avenues, is slated to open fall 2011. The store will have a ground-floor entrance, but the bulk of the space will be on the basement level.

Willow Grove, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Gertrude Hawk Chocolates has opened a new store at Willow Grove Park, in Willow Grove, Pa.

The 667-sq.-ft. store is located on the Second Level in the Bloomingdale’s Wing.

Willow Grove Park is a three-level, 1.2 million-sq.-ft. regional shopping mall anchored by Bloomingdale’s, Macy’s, Sears and The Cheesecake Factory.

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.

Hudson, Ohio -- Jo-Ann Stores said Thursday it has agreed to be acquired by an affiliate of private-equity firm Leonard Green & Partners for $1.6 billion in cash.

Los Angeles-based Leonard Green’s acquisition of the U.S.’s largest fabric retailer follows its $3 billion purchase of J. Crew, announced in late November.

Going private will enable Jo-Ann Stores to renovate stores and accelerate the chain’s expansion. It currently operates 756 stores.

Houston -- Centro Properties Group said that General Nutrition Center has opened a 1,600-sq.-ft. store at Merchants Park, in Houston.

Centro Properties Group, based in New York City, is the owner of Merchants Park.