Real Estate

Mega deals worth more than $1 billion drove the U.S. retail and consumer sector’s strong third quarter, according to PwC’s U.S. quarterly R&C Deals Insights report.

During the three-month period ending Sept. 30, 36 deals valued over $50 million were announced for the sector, with deal value up 64% in the third quarter, accounting for $46.6 billion, compared to $28.4 billion in the second quarter. Deal volume went up 6% from the second quarter, but down 36% from third quarter 2014.

A private equity group better known for investing in established companies is creating a new dollar store brand after acquiring 330 Family Dollar stores from Dollar Tree.

Dollar Tree acquired Family Dollar earlier this year and to satisfy federal regulators, the company agreed to divest 330 Family Dollar stores. The acquiring company is a newly created portfolio company of the private equity firm Sycamore Partners called Dollar Express.

New York -- The Feil Organization announced the completion of Nassau Mall and Kohl's Plaza complex renovation in Levittown, New York. The renovation consisted of a new façade and re-tenanting the centers, which resulted in four new leases totaling approximately 11,000 sq. ft. and 100% occupancy at both centers.

Despite concern from smaller pharmacies, Walgreens’ plan to acquire Rite Aid is likely to be approved by the FTC, according to a report by International Business Times. “The location strategies of these two companies have been historically quite different,” said Howard Davidowitz, a New York-based retail consultant.

Rhone, a maker of high-quality activewear, has made its first foray into the physical space with the launch of a holiday pop-up in New York City's SoHo neighborhood. And while the SoHo shop will only be open through January 15, 2016, it could be a harbinger of things to come.

Jordan’s Furniture, known for its larger-than-life stores that combine retail with all manner of entertainment, is outdoing itself in its next location. The retailer is building a 192,500-sq.-ft. store in New Haven, Connecticut — its first in the state — that will feature a massive indoor rope course, billed as “IT Adventure Ropes Course,” that includes two 60-ft. high ropes courses. Jordan’s is devoting 20,000 sq. ft. to the attraction.

Jordan’s Furniture, known for its larger-than-life stores that combine retail with all manner of entertainment, is outdoing itself in its next location. 

The retailer is building a 192,500 sq.-ft. store in New Haven, Connecticut—its first in the state—that will feature a massive indoor roap course, billed as  “IT Adventure Roaps Course,” that includes two 60-feet high ropes courses.  Jordan’s is devoting 20,000 sq. ft. to the attraction.

The merger agreement between Walgreens Boots Alliance and Rite Aid must be consummated by Oct. 27, 2016, or the deal is off, according to documents filed to the Securities and Exchange Commission on Thursday. That deadline could be extended to Jan. 27, 2017 under some circumstances, according to the document.