Mass Merchant

Beachwood, Ohio — DDR Corp. has closed a previously announced acquisition of a portfolio of 30 power centers from a joint venture with Blackstone Real Estate Partners VII L.P. and settled its forward equity sale. DDR acquired Blackstone’s 95% share.

The company funded the investment through a combination of proceeds from the issuance of new common equity and unsecured debt, preferred equity and mezzanine loan repayments and the assumption of existing mortgage debt.

Mars Chocolate North America has unveiled a new line of candies in several flavors just in time for Halloween.

The candy maker announced the release of its latest line, which includes Snickers peanut butter pumpkin-based singles, as well as jack-o-lantern-shaped Snickers-brand pumpkin, available in two packs. The company is also releasing a new large variety bag of Snickers Fun Size canned, available in Snickers Original, Almond and Peanut Butter Squared bars.

Pittsburgh -- Genco has been selected to manage a truckload transportation procurement event for Shopko.  The collaborative effort will encompass Shopko's inbound and outbound transportation network and is the third strategic procurement engagement Genco has provided to Shopko.

New York -- Help CSA determine the Most Innovative Retail Store of 2013 by voting for one of the five stores below. (For photos and info on the nominees, go to chainstoreage.com/multimedia.)

Plano, Texas – J.C. Penney Company shareholder Alan Marcus is suing the troubled department store chain because of its recent decision to build equity by issuing more than $800 million worth of new stock, which sent share values plunging, Reuters reported.    

The report said Marcus, who bought 300 shares of Penney stock on Sept. 26 shortly before the new stock was announced, is trying to obtain class-action status for his suit.
     

Beachwood, Ohio — DDR Corp. has announced the closing of its previously announce acquisition activity totaling $591 million. The acquisitions include a portfolio of seven prime power centers in a newly-formed joint venture with an affiliate of Blackstone Real Estate Partners VII L.P. for $332 million in August and two market dominant regional power centers in Orlando, Fla. and Atlanta, Ga., for an aggregate $259 million in July.

Seattle -- Nordstrom Rack will make its Philadelphia debut, opening an approximately 39,000-sq.-ft. store on Chestnut Street in fall 2014. The property is owned and managed by JEMB Realty Corp.
   
The new Nordstrom Rack will move into a completely renovated space that was originally home to department store Bonwit Teller and was most recently held by Daffy's. The store will occupy the first three floors of the historic, eight-story building.