Discount Store

Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent.  Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.

Miramar, Fla. - Boca Raton, Fla.-based Woolbright Development announced that five new restaurants have opened over the last few months at Miramar Square in Miramar, Fla.

Miramar Square is a 240,000-sq.-ft. shopping center anchored by Kohl’s, Staples and Dollar General.

The new restaurant openings include Golden Krust Caribbean Grill, L&L Market Bistro/Elle’s, Smitty’s Grill, La Coriana and Giardinos Gourmet Salads.

Other eateries slated to open in the next months include Coldstone Creamery and Sir Pizza.

Cincinnati -- Phillips Edison and Co.'s Fund IV announced its acquisition of Marketplace Shopping Center, in Independence, Mo.

The property was purchased from Centro Properties Group and Ingrid Long and Drew Quinn of Grubb & Ellis represented the Seller on the transaction. The 241,682-sq.-ft shopping center is anchored by Price Chopper.