REAL ESTATE

  • Sold: Danada Square East in Chicago MSA

    Oakbrook Terrace, Ill. -- Mid-America Real Estate Corp. has brokered the sale of Danada Square East, a 202,036-sq.-ft. grocery anchored shopping center in the Chicago suburb of Wheaton, Ill. Dominick’s anchors the center.

    Newport Capital Fund I purchased the property for $31,625,000 from CBRE Global Investors.

     

  • Z Capital Partners acquires Famous Brands

    Broomfield, Colo. -- The largest shareholder of Famous Brands, Z Capital Partners, a private equity firm, has acquired the remaining minority ownership stake in the company from The Carlyle Group.

    Famous Brands is the parent company of TCBY Yogurt and Mrs. Fields Cookies.

     

  • Phillips Edison-ARC acquires Corvallis, Ore., center

    Cincinnati, Ohio -- Phillips Edison-ARC Shopping Center REIT Inc. has announced the acquisition of Sunset Center, a 164,797-sq.-ft. shopping center anchored by a 54,971-sq.-ft. Safeway.

    The acquisition brings the Phillips Edison-ARC portfolio to 41 properties in 16 states with an aggregate purchase price of approximately $518.5 million.

     

  • RadioShack brings on new VP – communications

    Fort Worth, Texas -- RadioShack Corp. has announced the appointment of Merianne Roth to the new post of VP – communications. She will manage the company’s corporate communications, community relations, internal communications and event marketing.

    Roth comes to RadioShack from the Fort Worth Convention and Visitors Bureau, where she served as VP, marketing and communications. Her experience includes marketing and communications posts with J.C. Penney and Pier 1 Imports.

     

  • CBL acquires two Sears anchor locations

    Chattanooga, Tenn. -- CBL & Associates Properties has announced the acquisition of two Sears locations, one at CBL’s Fayette Mall in Lexington, Ky., and the other at CoolSprings Galleria in Nashville. Sears will continue to operate in both locations until closing dates have been finalized.

    “We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants,” said Stephen Lebovitz, CBL’s president and CEO.
     

  • RadioShack opens next generation store in Manhattan

    New York -- RadioShack Corporation has opened the first of the next generation of stores scheduled to roll out across the country and around the world over the next several months.

  • OfficeMax to make Chicago debut with new concept store

    Naperville, Ill. – OfficeMax has signed a lease agreement to open the first of its business solutions center concept stores in Chicago. The 3,900-sq.-ft. store, located in a currently unoccupied space at 550 St. Clair Street in the Streeterville neighborhood, will open later this summer and cater to the needs of business customers.

    Special services for business customers will include enhanced technology support, marketing, document and shipping services, and expert associates.

  • New general manager for Somerville, Mass., Assembly Row

    Rockville, Md. -- Federal Realty Investment Trust has announced that Russ Joyner has joined the company has VP-general manager of Assembly Row. Joyner’s responsibilities will include management and operations at the mixed-use development project in Somerville, Mass. Currently under construction, Assembly Row will open in mid-2014.

  • Glimcher names new senior VP, development

    Columbus, Ohio -- Glimcher Realty Trust has announced the appointment and election of Victor Pildes as senior VP development. He will provide leadership in project management and design, strategic planning and overall direction for all new development and redevelopment activities.

    With 25 years of development and project management experience, Pildes comes to Glimcher from Centrum Partners LLC, where he served as VP and consultant. He has also served in senior executive positions at Westfield and JMB/Urban Retail Properties Company.

     

  • Global Baristas acquires Tully’s Coffee Shops

    Seattle -- TC Global (dba Tully’s Coffee Shops) has announced the completion of the sale of substantially all of its assets to Global Baristas, an investment group led by Patrick Dempsey. Global Baristas bought the assets in an auction in bankruptcy court last January. The company plans to continue to operate Tully’s Coffee Shops and to retain all of the employees.

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