REAL ESTATE

Barbara’s Bookstore to open at Burr Ridge Village Center

BY CSA STAFF

Burr Ridge, Ill. Rosemont, Ill.-based Opus North Corp. said that Barbara’s Bookstore has signed a lease at Burr Ridge Village Center, a 20-acre lifestyle center in southwest-suburban Burr Ridge, Ill.

The 7,495-sq.-ft. store is under construction and slated to open in August, with a portion of it commissioned to be a 2,500-sq.-ft. community/reading room to be completed by December.

This will be the twelfth Chicago-area Barbara’s Bookstore, with other locations in University Village, Willis Tower, Northwestern Memorial Hospital, Macy’s State Street and O’Hare International Airport. The bookseller also operates a store in South Station, Boston.

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REAL ESTATE

LoopNet acquires LandsofAmerica

BY CSA STAFF

San Francisco Online real estate marketplace and database LoopNet said it has acquired Austin, Texas-based LandsofAmerica, the operator of an online marketplace specializing in land for sale at LandsofAmerica.com.

The LandsofAmerica management team, including its founders Allen Shannon and Jake Massengale, will remain with LoopNet to manage and grow the business.

LandsofAmerica.com generated almost 600,000 unique visitors to its websites in August, according to Google Analytics, and will contribute a significant lift to LoopNet’s overall website traffic of approximately two million unique visitors, also measured by Google Analytics. 

In addition, LandsofAmerica.com expands LoopNet’s overall share of active land for sale listings. 

Terms of the transaction were not disclosed. 

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REAL ESTATE

A&P to close 25 locations as part of turnaround strategy

BY CSA STAFF

Montvale, N.J. The Great Atlantic & Pacific Tea Co. said Friday that it will close 25 stores in five states as part of its turnaround strategy.

The operator of the A&P store chain said the affected stores include those that are in close proximity to others, facing real estate and cost issues and underperforming stores.

A&P president and CEO Sam Martin said the closures are “absolutely necessary to strengthen A&P’s operating foundation and improve our performance going forward.”

The closures are expected to be completed in the company’s fiscal third quarter.

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