Development

Retail Properties of America, Inc. (NYSE: RPAI) announced yesterday that Shake Shack has signed a new lease at its Circle East redevelopment project located in Towson, MD. Shake Shack will be located in a 3,200 square foot space on Circle East's prominent corner, on Joppa Road at the circle interchange in downtown Towson.

Captain D' announced that it has signed a new franchise development agreement with MH & Sons Enterprises, led by Maqsood Merchant, a seasoned multi-unit operator with more than 15 years of industry experience.

Louisiana Apple LLC, operating as Wisconsin Apple LLC, led by Seenu Kasturi, expanded its franchisee portfolio through the acquisition of 29 Applebee’s restaurants in Wisconsin. Louisiana Apple LLC now operates 47 Applebee’s restaurants across Arkansas, Indiana, Kentucky, Oklahoma and Wisconsin.

The property is located in Wisconsin and is occupied under a triple-net lease with approximately 9 years of term remaining. The transaction was priced at a 6.5% cash cap rate, exclusive of transaction costs.

Agreement builds upon successful 25-year relationship

New Franchisee Manchester Enterprises, Expands Coffee and Ice Cream Brand In the Houston Area

Stockholders to receive $1.05 per share in cash, representing a 111% premium to the 30-day volume weighted average price

The property is located in Texas and is occupied under a double-net lease with approximately 3 years of term remaining.

CenterCal Properties closes on nine acres completing the acquisition phase for Mountain View Village in Riverton, Utah

The three properties are well-located in the main retail corridor of the community and are leased to the corporate operators of LongHorn Steakhouse, Ruby Tuesday and Androscoggin Bank.