PetSmart LLC

Phoenix – PetSmart Inc. has agreed to be purchased for about $8.7 billion by a consortium of buyers led by private equity firm B.C. Partners and also including pension fund manager La Caisse de dépôt et placement du Québec and private equity firm StepStone. The total figure represents an acquisition price of $83 per share, a 39% premium over PetSmart’s closing price on July 2, 2014.  

As the pet supply industry continues to experience record growth, Petco is looking to expand its online offerings to include prescription services and more premium products.

Petco has agreed to acquire Drs. Foster & Smith, a Wisconsin-based online pet store founded by veterinarians. Drs. Foster & Smith specializes in pet care and education and is known for veterinary expertise on prescription medications and premium products for dogs, cats, fish, birds, reptiles, horses and small animals.

Amid an ongoing exploration of strategic alternatives, PetSmart said third quarter sales grew 2.6% thanks to the addition of 36 new stores as same store sales were flat.

Los Angeles -- Real estate investment and services firm Kennedy Wilson has negotiated a 10-year retail lease for Panera Bread, the chain’s first location in Culver City, Calif. The 5,100-sq.-ft. property is located at 10990 Jefferson Blvd. within the Studio Village Center.  

Kalamazoo, Mich. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Maple Hill Mall in Kalamazoo, Mich. The 283,551-sq.-ft. center was purchased from Kimco Realty Corp. by Whitehouse, Ohio-based Devonshire REIT.  

Dallas -– Specialty sports retailer Rally House has signed a 10-year lease for a 6,200-sq.-ft. store location at Old Town Shopping Center in Dallas. Westwood Financial Corp. (WFC), a privately held owner-operators of U.S. retail properties, operates the center.  

Beachwood, Ohio --DDR Corp. and an affiliate of Blackstone Real Estate Partners VII announced that a joint venture formed by the pair has closed on the acquisition of 71 shopping centers previously owned by American Realty Capital Properties for $1.93 billion.

Beachwood, Ohio – During third quarter 2014, DDR Corp. closed on the acquisition of eight prime power centers and the sale of seven operating assets and two land parcels, totaling $699 million of executed transactions. Seven of the eight power centers that the company acquired were purchased for $377 million at DDR's share from a joint venture formed with Blackstone Real Estate Partners VII L.P. in August 2013.