PetSmart LLC

Chicago -- Pine Tree Commercial Realty has acquired Poplar-Prairie Stone Crossing, a class-A power shopping center located in the Northwest Chicago suburb of Hoffman Estates, Illinois. The recent acquisition is Pine Tree’s 70th and brings the company’s current portfolio to 3.4 million sq. ft. in 19 separate properties.

The 312,000-sq.-ft. shopping center is shadow-anchored by Target and features TJ Maxx, Michaels, Ross Dress for Less, PetSmart, Lane Bryant, and Sports Authority.

Chicago -- Mid-America Asset Management recently secured new retail leases on behalf of two shopping centers in Chicago’s northwest suburbs. DSW Shoe Warehouse signed a lease for 23,773 sq. ft. at Village Square of Northbrook located at the southeast corner of Lake Cook Road and Skokie Boulevard in Northbrook, Ill. The 334,995-sq.-ft. center is anchored by Nordstrom Rack, Marshall’s, The Container Store, PetSmart, Cost Plus World Market, and Saks Fifth Avenue Off 5th. DSW, expected to open in spring 2015, is taking the space vacated by Loehmann’s.

Miami -- Berkowitz Development Group announced the signing of a new long-term lease with PetSmart for 14,252 sq. ft. at Dadeland Station, a 330,000-sq.-ft. shopping center located at 8312 S Dixie Highway in Miami.

The new PetSmart store, which will include an on-site, full-service Banfield Pet Hospital, is slated to open during fourth quarter 2014.

Current tenants include Target, Michael’s, Bed Bath & Beyond, The Sport’s Authority and Best Buy.

New York -- Activist hedge fund Jana Partners revealed on Monday that it received an anonymous package detailing a PetSmart presentation around improving results over the next two quarters.

According to Jana in a filing with the Securities and Exchange Commission, a cover letter accompanied the presentation, saying that PetSmart had “missed internal projections.” Jana said it sent the documents back to the company, asking the board to “promptly release such materials after redacting any such competitively sensitive information.”

Phoenix – Jana Partners, the largest shareholder in PetSmart by one million shares with a 9.9% disclosed ownership stake, is pressuring PetSmart to sell the company. In a letter to the PetSmart board of directors, Jana said it will seek to install new, pro-sale board members at the upcoming annual meeting if PetSmart does not start seeking a sale.

New Hyde Park, N.Y. - Kimco Realty Corp. has acquired a portfolio of 10 shopping centers from its joint venture with SEB Asset Management for $275.8 million, including $193.6 million of mortgage debt. Kimco, which previously held a 15% ownership interest in the properties, paid approximately $69.8 million for the remaining 85% equity interest held by SEB Asset Management, the group’s specialist real estate manager.

Beachwood, Ohio — DDR announced the grand opening of Seabrook Commons, the company’s most recent ground-up development project located in Seabrook, New Hampshire, a northern suburb of the Boston MSA.

The 380,000-sq.-ft. power center is 96% leased, anchored by Walmart, Dick's Sporting Goods, PetSmart, Michaels, ULTA, Famous Footwear and Five Below, and features a complementary restaurant lineup that includes Panera, Outback Steakhouse and Noodles & Company.

Beachwood, Ohio - DDR Corp. will hold the grand opening of Seabrook Commons, the company’s most recent ground-up development project located in Seabrook, New Hampshire, on Aug. 12. This 380,000-sq.-ft. prime power center is 96% leased, anchored by Wal-Mart, Dick's Sporting Goods, PetSmart, Michaels, Ulta, Famous Footwear and Five Below, and features a complementary restaurant lineup that includes Panera, Outback Steakhouse and Noodles & Company.

New York – In a regulatory filing, PetSmart disclosed that its board of directors is considering changes to the company’s capital structure in order to return more capital to shareholders. The disclosure follows a July 3 announcement by activist investor Jana Partners that it holds a 9.9% stake in PetSmart and plans to ask the retailer to explore various options, including a sale.

New York -- Activist investor Jana Partners LLC disclosed it has acquired a 9.9% stake in PetSmart, according to a regulatory filing, and plans to ask the retailer to explore various options, including a sale. Jana, $10 billion firm hedge firm run by Barry Rosenstein, has a reputation for pushing corporate managements to make changes.