General Growth Properties' Ala Moana Center in Honolulu is expanding to include the state's first Nordstrom. Taking up 200,000 square feet and three levels, Nordstrom will be joined by 15 new stores. Completion is expected by spring 2008
Commercial real estate finance company Medalist Capital Inc. recently placed $55 million in financing for the 513,290-square-foot Shops at Greenridge in Greenville, S.C. The center is anchored by Lowe's, Best Buy and Barnes & Noble. The fixed-rate financing was obtained by a life insurance company for a joint venture between Crosland and RREEF.
Capri Capital Advisors LLC purchased the 860,000-square-foot Baldwin Hills Crenshaw Plaza in central Los Angeles for $136 million from Hager Pacific Properties. The mall includes Sears, Robinsons-May and a three-story Wal-Mart. Capri is expected to revitalize the mall and may add other uses to the property in the future, such as residential.
Hart Realty Advisors and AmCap Inc. purchased the 133,542-square-foot Ballantyne Commons East Shopping Center in Charlotte, N.C., as part of a $270 million joint venture acquisition program to buy grocery-anchored centers. Ballantyne Commons was the third purchase by the joint venture. The center is anchored by area grocer Harris Teeter and Eckerd Drug.
Cornerstone Real Estate Advisors bought the recently completed, 305,077-square-foot Woodbury Lakes lifestyle center in Woodbury, Minn., for $99 million from Opus Northwest LLC. The center is 82 percent leased with tenants like J.Jill, Eddie Bauer and Coldwater Creek. CB Richard Ellis represented Opus.
Stella Del Mar LLC bought the 117,176-square-foot Colony Crossings shopping center in Tampa from Harborview Investors LLC for $15.6 million. Tenants include Publix and CVS. Advantis Real Estate Service Company, a partner in GVA Worldwide, represented the seller.
Tenant-in-common sponsor SCI Real Estate Investments purchased the 248,000-square-foot Anderson Station in Anderson, S.C., for $30.4 million in a 1031 exchange deal with AIG Baker. Tenants include Bed Bath & Beyond, Old Navy and Pier One Imports. Faris Lee Investments represented the buyer.
Gulf Coast Commercial sold the 350,444-square-foot Copperwood Village Shopping Center in Houston to Kimco Realty Corp. for an undisclosed amount. The center is 97 percent leased with OfficeMax, Petco and Old Navy. Grubb & Ellis Co. represented Gulf Coast.
Citigroup Global Markets Realty Corp. provided $26.7 million financing to Lakeland Town Center II LLC for their 125,700-square-foot center in Auburn, Wash. The center is 99 percent leased and includes Starbucks, Blockbuster and Curves. CBRE/Melody arranged the financing.