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Shopping centers news – page 12
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Wilder, Greenberg Gibbons Purchase 163,975 SF Shopping Center in Raleigh, Plan RenovationsRALEIGH, N.C. — Wilder and Greenberg Gibbons have formed a joint venture to acquire Wakefield Commons, a 163,975-square-foot shopping center located in Raleigh.
CMBS Special Servicing Rate Improves in MayThe Trepp CMBS Special Servicing Rate decreased by 51 basis points in May to 10.86%. The improvement was driven primarily by the return of a massive office loan backed by One New York Plaza in Lower Manhattan (pictured) to the master servicer and denominator effects.
Hinkson Inks Refi for 221K-SF Casa Grande Retail CenterHinkson Co. has secured a $30 million refinancing loan for Casa Grande Mall, a 221,328-square-foot retail asset in Casa Grande, Ariz. Natixis issued the funds. Casa Grande is between Phoenix and Tucson on I-10.
Representative imageMarcus & Millichap Arranges Sale of 62,400 SF Retail Center in East San AntonioSAN ANTONIO — Marcus & Millichap has arranged the sale of Rigsby Avenue Shopping Center, a 62,400-square-foot retail property located on the east side of San Antonio.
Representative imageColliers Brokers Sale of 52,889 SF Shopping Center in South HoustonHOUSTON — Colliers has brokered the sale of Parks at Boulder Creek, a 52,889-square-foot shopping center located in South Houston. The center sits on a 4.8-acre site at the southeast corner of Beltway 8 and Pearland Parkway.
Atlantic Capital Partners Arranges $78.5M Sale of 750,000 SF Shopping Center on Florida’s Space CoastWEST MELBOURNE, FLA. — Atlantic Capital Partners has arranged the $78.5 million sale of Hammock Landing, a 750,000-square-foot power retail center located in West Melbourne, a city on Florida’s Space Coast.
Representative imageEastern Union Arranges $12.9M in Acquisition Financing for Shopping Center in Lima, OhioLIMA, OHIO — Eastern Union has arranged $12.9 million in financing on behalf of borrower Lima Tov LLC for the acquisition of Lima Center, a 174,078-square-foot shopping center located in northwestern Ohio. The purchase price was $19.5 million.
Cove Capital Investments Acquires 72,013 SF Shopping Center in Western KentuckyPRINCETON, KY. — Capital Cove Investments has acquired a 72,013-square-foot, grocery-anchored shopping center located at 55 U.S. Highway 62 in Princeton, a city in Western Kentucky’s Caldwell County.
JLL Brokers $12.1M Sale of Shopping Center in Fort Collins, ColoradoFORT COLLINS, COLO. — JLL Capital Markets has brokered the $12.1 million sale of Drake Crossing, a 56,214-square-foot retail center located at 2100 W. Drake Road Fort Collins.
Eastern Union Secures $13M to Acquire Ohio Shopping CenterEastern Union has arranged more than $12.96 million in financing toward the acquisition of Lima Center, a 174,078-square-foot shopping center located in Lima, Ohio. The purchase price for the center was $19.5 million.
20-Acre Austin “Redevelopment” Property Set for AuctionRealINSIGHT Marketplace, in partnership with Colliers, is marketing a 20-acre parcel in southeast Austin for auction. The Federal Home Loan Mortgage Corporation (Freddie Mac) owns the property.
Representative imageCronheim Arranges $33.2M in Financing for Shopping Center in New City, New YorkNEW CITY, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged $33.2 million in financing for a 128,801-square-foot shopping center in New City, located about 40 miles north of New York City.
Federal Realty Sells Harris Teeter-Anchored Shopping Center in Falls Church, Virginia for $58MFALLS CHURCH, VA. — Federal Realty Investment Trust has sold Barcroft Plaza, a 113,173-square-foot shopping center located in Falls Church, roughly 10 miles west of Washington, D.C. Jordan Lex and Danny Naughton of JLL represented the seller in the $58 million transaction.
Colliers Brokers Sale of 82,847 SF Avalon Crossing Shopping Center in IndianapolisINDIANAPOLIS — Colliers has brokered the sale of Avalon Crossing Shopping Center, an 82,847-square-foot neighborhood retail center in Indianapolis.
Mazaheri Acquires Norman Retail Center for $82.2MDisney Investment Group (DIG) brokered the $82.25 million sale of University Town Center (UTC) in Norman, Oklahoma. David Disney and Adam Crockett of DIG represented the seller, Rainier Companies and procured the buyer, Mazaheri Properties.
CTO Adds 163K-SF Atlanta Retail Center to Property PortfolioCTO Realty Growth acquired Madison Yards, a 163,000 square foot retail center in Reynoldtown, for $73.3 million. An affiliate of Heitman Capital Management was the seller. Crawford Square Real Estate Advisors will lease and manage the property.
NewMark Merrill’s Future San Bernardino County Shopping Hub Signs 11 TenantsA Southern California-based shopping center owner and development company said it has secured 11 more leases for a new project in Victorville, Calif., before shovels are even in the ground.
Newmark Brokers Sale of 332,309 SF Shopping Center in Newport, KentuckyNEWPORT, KY. — Newmark has brokered the sale of Newport Pavilion, a 332,309-square-foot shopping center in Newport, a Kentucky city situated across the Ohio River from downtown Cincinnati.
Tanger Acquires 300K-SF Open-Air Retail Center in OhioTanger has acquired The Town Center at Levis Commons, a 300,000-square-foot, open-air lifestyle center located in a mixed-use district in the Perrysburg submarket of Toledo, Ohio. The transaction adds a fourth full-price, market-dominant lifestyle center to Tanger’s portfolio.
Recent Houston Highrise Buyer Plans $11M RevampSade Real Estate is planning $11 milion in upgrades on its recently purchased apartment tower between River Oaks and Greenway Plaza.