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PetSmart LLC

  • Cole buys Darien Towne Centre in Darien, Ill.

    Chicago — Cole Real Estate has purchased Darien Towne Centre in Darien, Ill., for $22.25 million, according to Transwestern’s Chicago office, which brokered the transaction on behalf of the seller, RPAI.

    Cole has the ability to expand the 177,002-sq.-ft. center, which was developed in 1994, by up to 12,000 sq. ft.

    Home Depot anchors Darien Towne Center, and a Wal-Mart Supercenter shadow-anchors. National tenants include PetSmart, O’Reilly Automotive, TGI Friday’s, Great Clips, Jenny Craig and Sally Beauty Supply.

  • Divaris completes two retail leases in Richmond

    Virginia Beach, Va. — Divaris Real Estate has completed two retail leases totaling more than 21,000 sq. ft. in Richmond.

    PetSmart renewed its lease for 19,734 sq. ft. at Parch Place at Short Pump, which is leased and managed by Divaris (www.divaris.com). Metro Commercial Real Estate represented the tenant.

    Kamayan Restaurant leased 1,577 sq. ft. in the 360 West Shopping Center, which Divaris leases and manages. The Filipino restaurant joins Rite Aid, AutoZone, Dollar General, Subway, Jackson Hewitt and Radio Shack.

  • Stirling and JCH acquire land for New Orleans center

    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.

  • DDR signs anchors for Seabrook Commons in N.H.

    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.

  • Levin to manage The Shops at 5 in Plymouth, Mass.

    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., center acquired by Cole Credit

    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 net income jumps 12% in Q3

    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 benefits from continued growth in pet supply category

    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.

  • PetSmart adds director of Herman Miller Foundation to board

    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.

  • SRS brokers four shopping center sales since August

    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:

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