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Colliers International Appointed Leasing Agent for Five Centers in Central Florida
The centers carry a collective vacancy rate of 8.8 percent and are all anchored by supermarkets, including two Publix stores and three Winn-Dixie stores.
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.
Burton Property Group Buys Alabama’s Jubilee Square for $37M
Tenants at the center include Dick’s Sporting Goods, ULTA, TJ Maxx, SteinMart, Office Depot, The Fresh Market and Carmike Jubilee Square 12.
Developers Acquire Land for Outlets at Corpus Christi Bay
The 74-acre land tract in Robstown, Texas will become The Outlets at Corpus Christi Bay.
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.
Ramco-Gershenson, DDR among REITs with Greatest Exposure to Office Depot, OfficeMax
SNL Financial estimates that CommonWealth REIT and Equity One Inc. have the most exposure to Office Depot stores, with the retailer accounting for 1.7 percent and 1.4 percent of these REITs’ revenues respectively.
Jones Lang LaSalle to Manage Coral Sky Plaza in Florida
Coral Sky Plaza is currently 97 percent leased. BJ’s Wholesale Club anchors the property.
Largo Group Arranges $87.23M Acquisition Loan for Grocery-Anchored Portfolio
The loan features a three-year term with two extension options and an interest-only period. The centers are anchored by Publix, Kroger, Harris Teeter, Bi-Lo, Winn Dixie, Walmart and Food Lion.
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.
AAG Management Sells New Jersey Center for $29M
The center underwent a renovation in 2011. It is currently 100 percent leased. A&P Supermarket anchors the property.
Taubman, Beijing Wangfujing Joint Venture on a Shopping Center Project in Zhengzhou, China
The center is currently under construction and is scheduled to open by the second quarter of 2015. Wangfujing Department Store will anchor the property, along with a supermarket, a movie theater, children’s play area and a mix of local and international retail brands.
Blackstone Buys UBS’ Interest in Two Kimco Joint Ventures in $1.1B Deal
Kimco reached a preliminary agreement with Blackstone to increase its ownership stake in the ventures from 18 percent to 33 percent. Kimco currently serves as the operating partner in the ventures, in addition to providing management and leasing services for the properties.
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.
Swire Properties, Bal Harbour to Partner on Brickell CityCentre Project in Miami
Brickell City Centre is scheduled to include 500,000 sq. ft. of retail, in addition to condominiums, a hotel and office space. It is scheduled for completion in the third quarter of 2015.
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