ROSEMONT, IL-Through a partnership with New York State Common Retirement Fund, Malvern, PA-based Liberty Property Trust plans to expand its Chicagoland reach. The agreement includes seven Liberty-owned distribution buildings in the Chicago area, currently assessed at $125 million.

LAS VEGAS-The Arabian-themed Desert Passage mall is undergoing a $50-million renovation that will de-theme and reinvigorate the retail center. Once beset with a 35% vacancy, sub-par sales per sf and below-market rents, Desert Passage's new owner, Boulevard Invest LLC, is planning an overhaul that will include new flooring, brighter interior lighting, new storefronts and a completely new interior look. New and natural lighting will illuminate the retail center that one executive says "had a sense of being night all of the time." Timed to take advantage of the ICSC convention activity, the center's owners will unveil a new name on May 21, further revealing the transformation of this 475,000-sf shopping oasis.

INDIANAPOLIS-Marsh Supermarkets Inc. signs a letter of intent to be purchased by an affiliate of Sun Capital Partners for an all-cash price of $11.13 per share. An independent committee approves entering into the preliminary agreement, but the final transaction will be left up to the company's shareholders.

INDIANAPOLIS-Marsh Supermarkets Inc. signs a letter of intent to be purchased by an affiliate of Sun Capital Partners for an all-cash price of $11.13 per share. An independent committee approves entering into the preliminary agreement, but the final transaction will be left up to the company's shareholders.

INDIANAPOLIS-Marsh Supermarkets Inc. signs a letter of intent to be purchased by an affiliate of Sun Capital Partners for $11.13 per share.

NAPERVILLE, IL-The party supplies retailer reports a fourth-quarter net loss of $1.2 million, versus a net loss of $3 million a year ago.

CHICAGO-Park City, UT-based Gemstone Resorts International, LLC, is taking over management responsibilities of the House of Blues Hotel. Now under new ownership, the 367-key hotel is also preparing for a multi-million-dollar renovation.

CHICAGO-Speaking at the Credit Suisse Real Estate Conference 2006 in New York City Thursday, Inland Real Estate Corp. executives discuss the company's progress with NYSTRS. In addition to adding more to its investment capital, the joint venture is also making plans to expand into the Southwest.