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Books-A-Million cleared to take over 14 Borders leases
New York City -- A bankruptcy judge gave Books-A-Million the nod Monday to take over the leases of 14 Borders Group stores for just under $1 million.
The stores are located mostly on the East Coast, and Books-A-Million is expected to take over the leases effective Sept. 20.
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Cole acquires 11 PetSmart retail properties for $74 million
Phoenix -- Cole Real Estate Investments said Monday that it has acquired a portfolio of 11 PetSmart retail properties for $74 million.
The approximately 300,000-sq.-ft. triple-net leased portfolio is located in primary markets in California, Florida, Illinois, Maryland, Massachusetts, Michigan and Texas. The 11 individual retail properties are leased to PetSmart, under one master lease, with an original 20-year lease term and approximately 10 years remaining, plus three automatic renewals for up to a total of 20 additional years.