Shopping center

JH Real Estate Partners buys Inland Empire shopping center

Hugo Aviles, CEO of JH Real Estate Partners, and the property at 16701 Valley Boulevard (Google Maps, JHREP) Investors are hot for industrial property in the Inland Empire – and they’re gearing up for retail, too. JH Real Estate Partners has purchased a 310,000 square foot shopping center in Fontana for $70.8 million, CBRE reported […]

Shopping center

What ALDI’s rapid expansion means for net rental investors

The pandemic has cast a spotlight on essential retailers, and despite a resurgence in almost every retail category, the grocery sector remains a priority for investors. Shopping Center Business recently reached out to Tom Georges, Director of Stan Johnson Co.’s New York office, to discuss current trends impacting the single-tenant and multi-tenant grocery industry and […]

Shopping center

Shopping center developer invests in laundromats (Part 1)

GARDEN GROVE, Calif. – Red Mountain Group, which specializes in retail redevelopment, recently developed its first high-speed laundromat – Boulder Express Laundry Services – here in Garden Grove. Rooted in a Walmart store, the 3,800-square-foot laundry room has seen 10% month-over-month growth since its launch, according to the owner. In May 2020, Red Mountain expanded […]

Shopping center

Commercial real estate is also booming, as the mall brings in millions

A subsidiary of Palm Beach’s Frisbie Group paid $6.75 million in February for a shopping mall in a prime corner of West Palm Beach. The sale price paid by Frisbie, more than four times the price of $1.49 million paid in 1999, reflects the continued demand for properties along the coveted South Dixie Freeway corridor. […]

Shopping center

Mall REIT Cedar Realty Trust sells portfolio

Bruce Schanzer of Cedar Reality Trust (Cedar Reality Trust, iStock) Mall REIT Cedar Realty Trust has reached agreements to sell its entire portfolio in at least three transactions totaling $1.2 billion. The Long Island-based company’s portfolio includes 53 properties covering approximately 7.6 million square feet of gross leasable area, spread across eight northeastern states from […]

Shopping center

MacKenzie chosen to sell Hagerstown shopping center

The South End Mall in Hagerstown is located at 1101-1181 Maryland Ave. and situated on nearly 12 acres of land with over 450 surface parking spaces. The asset faces MD Route 632 and more than 12,000 vehicles pass through the site daily. (photo sent) MacKenzie Commercial Real Estate Services, LLC and Equity Retail Brokers have […]

Shopping center

Suburban Chicago mall sells for $20 million

Randall K. Rowe, President and Founder of Green Courte Partners, outside 840 South Waukegan Road in Lake Forest (Green Courte Partners) An Arkansas company has paid $20 million for a 90% occupied mall in suburban Chicago, indicating a rebound in retail as concern over the virus ebbs. Woodard Properties purchased the 50,000 square foot complex […]

Shopping center

Invesco buys Westchester Cortlandt Crossing shopping center

Scott Dennis, CEO of Invesco Real Estate and Cortlandt Crossing Shopping Center in Mohegan Lake (Invesco, Katz & Associates) Cortlandt Crossing changes hands. The mall anchored at ShopRite in Westchester County is being sold by the original developer to Invesco Real Estate for $65.5 million, according to the Westchester & Fairfield County Business Journals. Cortland […]

Shopping center

The Cordoba JDJ Group buys the MYO shopping center in Gandía and will expand its space

The Córdoba investment group JDJ, through the real estate asset manager Batex/Duplex formed by the commercial project manager Batex and the architecture and engineering studio Duplex ARQ Factory, became the new owner of the commercial park MYO Gandía in this Valencian city. The retail park was inaugurated in 2008 and was promoted by the company […]

Shopping center

Ethan Offenbecher joins Sands Investment Group as Head of Shopping Center Investment Sales Team

Ethan Offenbecher “Our team is best in class and the opportunity to serve clients nationwide is an opportunity I couldn’t pass up. And we’re just getting started. 2022 is going to be a phenomenal year for real estate multi-tenant investment plan,” -Ethan Offenbecher AUSTIN, TX (PRWEB) February 22, 2022 Sands Investment Group (SIG) is […]

Shopping center

Ethan Offenbecher Joins Sands Investment Group as Head of Shopping Center Investment Sales Team | News

AUSTIN, TX, February 22, 2022 /PRNewswire-PRWeb/ — Sands Investment Group (SIG) is pleased to announce that Ethan Offenbecher joined the team in November 2021 to lead the mall investment sales team. As a shopping center specialist, Offenbecher brings over 20 years of award-winning experience. He most recently served as team leader of the Offenbecher Group, […]

Shopping center

Felch Street Shopping Center in Holland Twp. sold for $21 million

TWP HOLLAND. – A private Georgia real estate company recently purchased the Felch Street Mall in Holland Charter Township for $21 million. The 166,100 square foot mall is fully leased to national and regional retailers including Barnes & Noble, Bed Bath and Beyond, Jo-Ann Fabrics, Jonathan Stevens Mattress, Party City, PetSmart, Shoe Carnival, TJMaxx and […]

Shopping center

Hanley Investment Group Completes Eighth Property Sale at Highland Village Shopping Center | Business

Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in the sale of commercial properties, recently announced that the company has arranged the sale of two multi-tenant retail properties at Highland Mall Village, a store anchored in Sprouts. Fontana center. The two buildings, which totaled 13,515 square feet, […]

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Sprouts Farmer’s Market opens at Green Valley Ranch Mall

Development plans are progressing well at Evergreen Devco’s mall, anchored by a grocery store, on the northeast corner of 56th Avenue and Tower Road in Denver. Evergreen completed construction of a 23,300 square foot Sprouts Farmer’s Market last month and the much-needed store is now open. “We are very pleased to deliver this beautiful, much-needed […]

Shopping center

Chambersburg City Council clears sale of first phase of Southgate Shopping Center

CHAMBERSBURG, Pa. (WHTM) – From a strip mall to a mixed-use community, change is coming to Chambersburg, Franklin County. Borough council voted late Monday to allow the Chambersburg Area Municipal Authority (CAMA) to purchase the Southgate Mall. Man wanted for stealing over $11,000 from an elderly/dependent person; Chambersburg Police This has been a Borough objective […]

Shopping center

The former Searstown mall in Lakeland will get a makeover and expand

LAKELAND — As the once cutting-edge Searstown Mall did for Lakeland decades ago, a new retail design concept has been proposed for the Midtown property. Planning consultant Thuy Turner says the new owners hope the Lakeland project will build on the successful project the owners have completed in Bradenton. Attention Buyers:Five Below and Burlington arrive […]

Shopping center

PGIM Hires CBRE to Sell Marshfield Plaza Mall in Chicago’s South End

A sale of Marshfield Plaza – and its price – could provide additional clues about the state of the mall investment market. Malls suffered early in the COVID-19 pandemic as retailers closed stores and stopped paying rent. As consumers spent more money online and shunned physical stores, the most pessimistic prognosticators were predicting that the […]

Shopping center

Retail investment strengths set to continue in 2022

A fresh influx of money aimed at the retail sector has made 2021 a strong year for investment sales in the category. Factors such as the continued inflow of capital, attractive yields, diminishing fears over the demise of the 1031 exchange, and trading opportunities indicate that 2022 will likely follow in the footsteps of 2021 […]

Shopping center

RPT Realty is selling Chicago Mall for 44% off

Webster Place Mall and RPT Realty CEO Brian Harper (Google Maps, LinkedIn) A New York investment firm sold a Chicago mall at a roughly 44% discount in December after scrapping a major development plan for the troubled property. RPT Realty has sold Webster Place, a 135,000 square foot shopping center located at Webster and Clybourn […]

Shopping center

Prosper Mall is Dallas real estate investor’s latest buy

A Dallas investment group has taken over a high-profile shopping mall in Prosper. Younger Partners Investments has purchased The Shops at Prosper Trail, a nearly 100,000 square foot shopping center on Preston Road. The Strip mall is next to a Kroger Marketplace grocery store and is 98% leased. “The Shops at Prosper Trail is a […]

Shopping center

RJ Brunelli Completes Sale of ITC Crossing South Mall in Mt. Olive, NJ to Robert Rivani’s Black Lion Investment Group

MT. OLIVE, NJ, January 4, 2022 /PRNewswire/ — RJ Brunelli & Co., LLC today announced that it has negotiated the December 2021 sale of the 373,612 square foot ITC Crossing South shopping center in this Morris County community at Black Lion Investment Group, the fast-growing commercial real estate company led by a 31-year-old real estate […]

Shopping center

American Finance Trust set to acquire shopping center portfolio for $1.3 billion and sell office assets as part of rebranding

New York City — American Finance Trust Inc. (NASDAQ: AFIN) has entered into a definitive agreement to acquire a portfolio of 81 shopping centers from CIM Real Estate Finance Trust, a REIT managed by Los Angeles-based CIM Group. The transaction is valued at $1.32 billion. The 9.5 million square foot portfolio includes electrical retail shopping […]

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Amato sells Gateway Mall for $10 million to Musto & Daughter Real Estate

EDWARDSVILLE — Forty Fort dentist Charles Musto and his daughter Vanessa bought the Gateway Mall for $10 million from legendary drag racing champ Joe Amato. The transaction was finalized on October 27 and is between Joe Amato Properties (seller) and Musto & Daughter Real Estate. Vanessa Musto, 23, said the mall is currently 90% occupied […]

Shopping center

The pandemic has allowed shopping center REITs to do better than ever

Investors looking for gains in commercial real estate have been left perplexed as the ongoing global pandemic upends the sector. As traditional retail, offices and apartments crumble, the humble strip mall, epicenter of community shopping, is proving its enduring value to neighbors and investors. Changing buying habits have changed investment strategies in the real estate […]

Shopping center

Deltona mall sells for $4.2 million

PHOTOS COURTESY OF COLDWELL BANKER COMMERCIAL AS THE CROWED OVER — The Deltona Fountains Mall is an L-shaped plaza encompassing nearly 35,000 square feet of retail space. The resort was recently sold by its out-of-town owner to a South Florida company for $4.2 million. Deltona Fountains, a shopping complex located near the intersection of Deltona […]

Shopping center

Houston Investor Takes Over Plano Mall Next to New HEB

A Houston real estate investor has snapped up the Plano Mall which sits right next to one of the first grocer HE-B stores in North Texas. Whitestone REIT has purchased Lakeside Market, a 163,000 square foot shopping center on Preston Road, south of Spring Creek Parkway. It is next to the HEB grocery store which […]

Shopping center

Mall owner Kimco Realty buys rival Weingarten in $3.87 billion deal

Close-up of a sign for Kimco Realty, a real estate investment trust that is among the largest publicly traded operators of outdoor shopping malls, in the San Francisco Bay Area town of Daly City, California on 3 November 2017. Smith/Gado collection | Stock photos | Getty Images Mall owner Kimco Realty said on Thursday it […]