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Real estate continues recovery in Q4
Los Angeles -- CBRE Group reported Thursday that, despite sluggish economic growth, the U.S. commercial real estate market remained on a recovery path in fourth quarter 2012.
The retail availability rate declined slightly to 12.8%, down 10 bps compared with the previous quarter.
“The broken record of slow but positive progress toward a real estate recovery continues to repeat,” said Jon Southard, managing director of CBRE’s Econometric Advisors Group.
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Supervalu in deal with private-investor group led by Cerberus
Minneapolis -- Supervalu Inc. announced Thursday that it has reached a deal to sell its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies to a private equity group in a transaction valued at $3.3 billion.
AB Acquisition, a consortium of investors led by Cerberus Capital Management, will get 877 stores across the various banners in the deal. The investor group also includes Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners and Schottenstein Real Estate Group.