Mass Merchant

New York -- Family Dollar said it favors a smaller deal with potential buyer Dollar Tree, and firmly rejected an offer for takeover by larger competitor Dollar General.

Following an $8.5 billion offer last week by Dollar Tree, Dollar General offered a $9 billion, all-cash deal.

Jackson, Tenn. -- Transwestern announced that it brokered the disposition of Lynnwood Place, a 96,666-sq.-ft. shopping center in Jackson, Tennessee. The seller was Columbia, South Carolina-based Edens, and the buyer of the Kroger-anchored retail center was Phillips Edison & Company.

Completed in 1986, Lynnwood Place encompasses 11.73 acres and is 89% eased to retailers including Kroger, Charter Communications Inc., Cato Fashions and Youfit Health Clubs.

By Michael Hirschfeld, senior VP of JLL’s National Retail Tenant Services

New York -- A new Nielsen survey found that nearly 20% of consumers have already started their back-to-school shopping, and 75% plan to start within the next few weeks.

More parents are starting their shopping earlier than in the past, as 18% of survey respondents had already started their back to school shopping as compared to 7% at the same time last year. On the flip side, 15% are choosing to wait longer, while 50% do not plan to do any back to school shopping this year.

Hoffman Estates, Ill. -- Sears Holdings Corp. on Thursday reported a bigger-than-expected loss in its second quarter – the retailer’s ninth consecutive quarterly loss – amid weak sales. The retailer also announced it may close additional stores on top of the 130 closures already underway this year.

Sears also said Thursday the company plans to explore options with lenders to achieve more long-term capital-structure flexibility in the coming six to 12 months.

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.

Orlando, Fla. -- JLL’s Capital Markets experts announced the firm has closed the sale of Lake Washington Crossing on behalf of WSRI-SRP Lake Washington, LLC.

Baltimore-based Philips Edison Group, LLC, purchased the 118,698-sq.-ft. grocery-anchored shopping center, located near Florida’s ocean coast, in the town of Melbourne.

Managing Directors Kris Cooper, Margaret Caldwell and Carson Good led the JLL team on the transaction.

Jacksonville, Fla. -- Stein Mart Inc. reported net income of $1.7 million for the second quarter, reduced from $3.4 million last year on higher healthcare costs.

Total sales increased 2.5% to $298.2 million, while same-store sales increased 1.3%, the retailer’s ninth consecutive quarter of comparable store sales gains.