Nashville, Tenn. — Nashville-based Bridgestone Americas Inc. has announced that Pep Boys and Bridgestone Retail Operations LLC (BSRO), a wholly owned subsidiary of Bridgestone, have entered into a definitive merger agreement under which BSRO will acquire Pep Boys in an all-cash transaction for $15 per share, or approximately $835 million in aggregate equity value.
Lodi, N.J. — Holliday Fenoglio Fowler LP (HFF) has arranged the $12 million sale of Essex Square, a 16,000-square-foot retail strip center located within the Route 17 retail corridor in of Lodi, a suburb of New York City.
San Ramon, Calif. — San Ramon-based Vitality Bowls, a superfood café, is set to open three new locations in Colorado and California.
New York City — Thor Equities has signed an agreement to sell the retail condo at 445 Fifth Ave. in Midtown Manhattan to Harbor Group International for $68 million.
Dallas — Ashley Casterlin of Davis Commercial Real Estate represented Edwin Cabaniss, owner of the Kessler Theater in Dallas, in the purchase of the historic Heights Theater at 339 W. 19th St. in Dallas.
Orlando, Fla. — The board of directors for Darden Restaurants Inc. (NYSE: DRI) has approved the tax-free spin-off of select real estate and restaurant assets into Four Corners Property Trust Inc. Darden hopes to raise as much as $1 billion with the spin-off that will put 424 restaurants into the REIT.
Paoli, Penn. — HFF has arranged the $11.4 million sale of Paoli Center, a two-building property totaling 15,400 square feet located in the Philadelphia suburb of Paoli.
Rancho Cucamonga, Calif. — Rancho Cucamonga-based Progressive Real Estate Partners has arranged the sale of two single-tenant properties in Riverside County in Southern California’s Inland Empire market for a total of $6.9 million.
Delray Beach, Fla. — Founder and Patriarch of The Simon Konover Co. and Konover South passed away October 20 in Delray Beach at the age of 93.
Los Angeles — AvalonBay has purchased a 5.8-acre land parcel in Hollywood for more than $100 million.