PetSmart LLC

Covington, La. — Stirling Properties and JCH Development have closed on land acquisition and development financing for Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans at the intersection of South Claiborne Avenue and Toledano Street. First NBC Bank of New Orleans provided financing for the project.

Beachwood, Ohio — DDR Corp. has announced he lease-up and construction of Seabrook Commons, a 380,000-sq.-ft. power center slated to open in the summer of 2014 in Seabrook, N.H.

Anchored by Wal-Mart, Dick’s Sporting Goods, PetSmart, Michaels, Ulta, Five Below and Panera, the center will open 95% leased.

The trade area has a population of 251,000 people and an average household income of approximately $90,000.

North Plainfield, N.J. — The Shops at 5 in Plymouth, Mass., has named Levin Management its exclusive managing agent.

The 420,000-sq. ft. open-air shopping center takes its name from its location off Route 3 at Exit 5 on Long Pond Road. Anchor tenants include BJ’s Wholesale Club, TJ Maxx/HomeGoods and Kohl’s. Other national names include The Sports Authority, PetSmart, Pier 1 Imports, Panera Bread and IHOP.

Matteson, Ill. — Cole Credit Property Trust IV has acquired the 150,045-sq.-ft. Matteson Center in Matteson, Ill., for approximately $19 million. Marshalls, Sports Authority, Ross Dress for Less and PetSmart anchor the community shopping center located in the suburbs south of Chicago.

Mid-America Real Estate Corp. represented the seller, Kimco Realty Corp. in the transaction. Mid-America Real Estate Corporation is a member of Mid-America Real Estate Group www.midamericagrp.com, a ChainLinks affiliate headquartered in Oakbrook Terrace, Ill.

PetSmart’s third quarter results benefited from consumers who continue spending money on their pets despite a still-challenging consumer environment.

The company’s earnings per share jumped 17.3% to $0.88 from $0.75 in the third quarter of 2012. Net income totaled $92 million for the quarter, compared to $82 million in last year’s third quarter.

Phoenix – PetSmart reported a 12% increase in net income, to $92 million from $82 million a year earlier, during the third quarter of 2013. Total sales grew about 4%, to $1.69 billion from $1.62 billion, while same-store sales increased 2.7%.

Looking ahead, PetSmart predicts same-store sales growth of 3%-3.5% and total sales growth of approximately 3% for fiscal 2013. For the fourth quarter of fiscal 2013, PetSmart forecasts same-store sales growth of 2.5%-3.5% and a 2%-3% decrease in total sales.

PetSmart has unanimously elected Elizabeth Nickels to fill a newly created vacancy on its board of directors. Nickels will join the 2013 class of directors, and will be eligible for re-election by the company’s stockholders at the 2014 annual meeting of stockholders.

Dallas — SRS Real Estate Partners’ southeast investment sales team has closed five retail shopping center sales since August. The transactions total more than $60 million and over 575,000 sq. ft. of retail real estate. Here are the details: