- Family Dollar Holders Accept $8.74 Billion Dollar Tree Bid “Family Dollar Stores Inc. (FDO) shareholders approved an $8.74 billion takeover offer from Dollar Tree Inc. after a six-month battle, spurning a higher offer from Dollar General Corp. (DG) that they considered too risky.” (Bloomberg)
- Generation Y Prefers Suburban Home Over City Condo “One of the hottest debates among housing economists these days isn’t the trajectory of home sales, but whether millennials, those born in the 1980s and 1990s, want to remain urbanites or eventually relocate to the suburbs.” (The Wall Street Journal)
- Mitsui Fudosan America Takes Majority Stake in 55 Hudson Yards as Construction Starts “Construction has started on Fifty Five Hudson Yards, a 51-story, 1.3 million-square-foot office tower being developed by Related Cos. and Oxford Properties Group along with its newest joint venture partner – Mitsui Fudosan America Inc.” (Commercial Property Executive)
- Cadillac to Introduce ‘Boutique’ Store Concept to 700 Dealers “Cadillac plans to ask about 700 of its dealerships to invest in small ‘boutique’ stores that would offer ‘high technology showrooms’ and a higher level of service than they offer today.” (Crain’s Detroit Business)
- Top-Performing Value Fund Takes Big Position in Dunkin’ Brands “Shipp said that he is attracted to the company despite the reduced projections because of its franchise model, which gives the company gross margins nearly double the average of its industry, and by the company's growth prospects at a time when lower gas prices and a rebounding housing market should lead to an increase in construction projects.” (Reuters)
- Brookfield Wins Disputed Bid to Manage Manhattan Marina “The state’s Battery Park City Authority voted Thursday to approve a 10-year agreement with Brookfield, which owns an adjacent 8 million-square-foot office and retail complex. Brookfield is bringing in billionaire real estate investor Andrew Farkas’s Island Global Yachting to manage the North Cove Marina.” (Bloomberg)
- Silver Pocketed $700K in Real Estate-Related “Undisclosed Bribes and Kickbacks” “Mr. Silver collected more than $6 million in outside income from two private law firms since 2002, according to the complaint. Approximately $700,000 came in ‘undisclosed bribes and kickbacks’ from a scheme in which Mr. Silver used his influence as Assembly Speaker to ‘induce real estate developers with business before the State’ to use a real estate law firm run by an attorney who previously worked as Mr. Silver’s counsel in the Assembly, and which paid Mr. Silver for the referrals.” (Commercial Observer)
- Wal-Mart Canada Opening 11 Supercenters in January “Wal-Mart’s expansion comes as its rival Target Canada is preparing to shut down operations. Target has filed for creditor protection in Canadian bankruptcy court and will close all 133 stores in Canada, liquidating merchandise and most likely terminating Target Canada’s 17,600 employees.” (Chain Store Age)
- Dollar General Could Look to Smaller Acquisitions for Growth “Stifel, Nicolaus & Co analyst Taylor LaBarr said that Dollar General is now expected to focus on expanding its footprint of more than 11,500 stores, while Dollar Tree slows store openings to integrate Family Dollar.” (Reuters)
- Hawaii’s Record-Breaking 2014 Saw $4.5B in Commercial Real Estate Transactions “Forty percent of the transactions were in the resort/golf/hotel category, while retail transactions accounted for 30 percent of the total.” (Pacific Business News)
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