REAL ESTATE

Japanese Haute Cuisine opening in Nolita

BY Staff Writer

New York — Douglas Elliman’s Retail Group said Monday it has arranged a lease at 55 Spring Street, between Lafayette and Mulberry Streets, for Eight Turn Crepe, a Japanese-based restaurant chain.

The opening marks the quick-serve chain’s U.S. debut.

The space was previously occupied by Choco Bolo.

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REAL ESTATE

Sembler launches new website

BY Staff Writer

St. Petersburg, Fla. — The Sembler Co. announced Monday that, in celebration of the firm’s 50th anniversary, it has launched a new website, Sembler.com.

This is the second major revision to the website since the initial launch in 2002. With technology and social media changes, the new site enables better interaction among The Sembler Co., its clients, vendors, and associates.

The new website showcases third-party property listings as well as Sembler-owned developments. It embraces social media interaction, using Facebook, Twitter, and LinkedIn.

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News

Report: sale of Supervalu imminent

BY CSA STAFF

NEW YORK — The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday.

Bloomberg also reported that a deal between Cerberus and Supervalu was imminent. According to that Bloomberg report, Cerberus would lead an investment of around $500 million in equity.

Bloomberg in December reported that Cerberus and Supervalu were negotiating a deal in which Supervalu would sell its Albertsons and Save-A-Lot operations to Cerberus, and Cerberus would take a stake in the remainder in what will still be a public company.

Supervalu’s stock rose 13.5% to $2.94 on Friday, after WSJ reported a deal with Cerberus was close. The company’s stock has been down more than 60% over the past 12 months.

Cerberus already has a stake in the Albertsons banner. In 2006, a Cerberus-led group acquired more than 650 underperforming Albertsons stores as part of a larger deal to dismantle that grocer. As part of that deal, Supervalu had acquired more than 1,100 Albertsons grocery stores.

For the full Bloomberg story, click here.

For the full WSJ story, click here.

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