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Agree Extends Its Unsecured Credit Facility, Closes on $23.6M CMBS Loan
The amendment includes the extension of the facility’s maturity date to October 2015 and the addition of two one-year extension options, subject to customary conditions.
Landlord, Franchise Associations Launch Free Matchmaking Service
The new website, located at, allows IFA members to post the space criteria that define their expansion programs free of charge. At the same time, ICSC members can post their available space vacancies, which can then be searched by geographic location, square footage, site demographics or ownership/management company.
Fantini & Gorga Secured $35M Loan for Westborough Shopping Center in Massachusetts
Super Stop & Shop, Staples, Marshalls, Home Goods, Ruby Tuesdays and Starbucks anchor the center. The property also features 85,000 sq. ft. of office space.
CBL to Expand Cross Creek Mall
The project will allow CBL to bring new retailers to the center, including Chico’s, LOFT, White House | Black Market, Men’s Wearhouse, Reed’s Jewelers and Lane Bryant.
Deerwood Real Estate Capital Closes on an $18.5M Loan for Georgia Shopping Center
Belvedere Plaza was completed in 1956. Kroger anchors the property and recently signed a 10-year lease extension. Other tenants include CW Price, Dollar Tree, and Hibachi Grill.
Taubman Centers Inc. Sells Off Portions of its China Business
The buyer will assume leases for all business offices except the one in Beijing, employ the majority of the people and acquire the TCBL name, trademark and copyrights.
Cole Buys Brooklyn’s Canarsie Plaza for $124M
Canarsie Plaza was completed in 2011 and is currently 96 percent occupied. BJ’s Wholesale Club, Planet Fitness and PetSmart anchor the property. Other tenants include the Vitamin Shoppe, Dunkin’ Donuts and T-Mobile.
HFF Helps Arrange $35M Loan for Acquisition of Four Lowe’s Stores
Cantor Commercial Real Estate provided funding for the loans, which feature a fixed 4.3 percent rate and five-year terms.
Simon, Tanger Partner on Outlet Developments in North Carolina and Ohio
In Charlotte, Simon and Tanger plan to build Charlotte Premium Outlets, a 350,000-sq.-ft. center located at the interchange of I-485 and Steele Creek Road. Opening is scheduled for the spring of 2014. In Columbus, the firms plan to build Tanger Outlets, which will also contain approximately 350,000 sq. ft. of space.
HFF Negotiates $100M Loan for Portion of The Shops at Park Lane
The Shops at Park Lane was completed in 2009. Retail tenants at the center include Whole Foods, Dick’s Sporting Goods, Nordstrom Rack, Saks Off Fifth, Bloomingdale’s—The Outlet Store, HomeGoods, Old Navy and Gordon Biersch, among others.
Central Pacific Bank Sells Lahaina Gateway Out of REO for $32M
The sale closed at a cap rate of 5.62 percent, representing a record for a leasehold sale of this size in the state of Hawaii. At the time of the sale the asset was in REO.
Study Reports an Increase in Retail Buyout Deals
PwC estimates that third quarter acquisition volume for retail and consumer products companies valued at more than $50 million is up 60 percent compared to the same period a year ago.
A&G Realty to Manage Fashion Bug Lease Resolutions for 285 Stores
The stores range from 5,000 sq. ft. to 12,000 sq. ft. and are located in Arizona, California, Colorado, Connecticut, Delaware, Florida, Iowa, Illinois, Indiana, Kentucky, Massachusetts, Maryland, Maine, Michigan, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, Washington, Wisconsin, West Virginia and Wyoming.
GI Partners Sells 75 Percent Interest in Colorado’s FlatIron Crossing Back to Macerich
FlatIron Crossing was developed by a Macerich subsidiary in 2000. Nordstrom, Dillard’s and Macy’s anchor the property. Dick’s Sporting Goods, Crate & Barrel and The Container Store serve as junior anchors.
Whitman Family Reaches Expansion Deal for Florida’s Bal Harbour Shops
The firm made an agreement with the Church by the Sea, located adjacent to the center, to acquire the land on which the current church stands and use it for the expansion. In exchange, the Whitman family will build a 50,000-sq.-ft. eco-friendly new building for the church on the land it owns at the northwest corner of Bal Harbour Shops’ property.
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