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Real Estate

  • Gertrude Hawk Chocolates opens at Willow Grove Park

    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.

  • WP Realty acquires Mayfair Shopping Center

    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.

  • Jo-Ann Stores to be bought by Leonard Green for $1.6 billion

    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.

  • GNC at opens at Merchants Park

    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.

  • Waldin Jewelers opens at Francis Scott Key Mall

    Frederick, Md. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Waldin Jewelers has opened at Francis Scott Key Mall, in Frederick, Md.

    The 1,103-sq.-ft. retailer is located in the Center Court of the mall.

    Francis Scott Key Mall is owned and managed by PREIT.

  • Dillard’s to open Internet distribution center

    Maumelle, Ark. -- Dillard’s announced it will locate an Internet fulfillment center in Maumelle, Ark., to support the continuing growth of its online business. The company has signed an agreement to purchase the former Target distribution facility and will create over 300 new jobs in the Central Arkansas area.

  • Report: Supervalu having trouble finding buyer for Shaw’s

    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.

  • Report: Shaw's may be pulled from sale block

    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.

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