Rouse Refinances Lakeland Square Mall in $65M Deal
Previously, the asset carried a $50.3 million loan with an interest rate of 5.12 percent. Rouse received approximately $13.4 million in net proceeds from the transaction, after closing and defeasance costs.
What Would Be the Fallout of J.C. Penney Store Closings for the CMBS Market?
Morningstar researchers estimate that there are approximately 262 unpaid CMBS loans that are secured by properties where J.C. Penney is one of the three anchor tenants. The department store chain occupies 100 percent of GLA at four of the properties on the list, 50 percent of GLA at 13 properties and approximately 26 percent of GLA at 95 properties.
Los Angeles Retail Property Sells for $18.95M
The retail building was completed in 2007 and is currently fully occupied. Tenants include Ralphs Fresh Fare, Coffee Bean & Tea Leaf, Quiznos, Robeks, Simply Salad, Supercuts and The UPS Store.
Whole Foods Expands in the Northeast
The retailer signed a lease with Federal Realty Investment Trust for a 47,000-sq.-ft. store at Ellisburg Circle Shopping Center in Cherry Hill, N.J. The retailer plans to open its new location in 2014.
Excel Trust Buys Portion of Tracy Pavilion Shopping Center in $31.97M Transaction
The purchased part of the center is anchored by Marshalls, Ross Dress for Less, PetsMart and Staples, which occupy approximately 60 percent of the property’s aggregate GLA. In-line tenants include Ulta, Anna’s Linens, Chase Bank, Rubio’s, Panda Express, Starbucks, Supercuts, UPS and Subway.
