Shopping Center Business

JUL 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

Issue link:

Contents of this Issue


Page 11 of 69

8 • SHOPPING CENTER BUSINESS • July 2018 NEWSLINE NEWMARK GROUP TO ACQUIRE RKF RETAIL HOLDINGS Newmark Group Inc. has agreed to acquire RKF Retail Holdings LLC, a real estate firm specializing in retail leasing, for an undisclosed price. The acquisition is expected to close later this year, and will grow New York-based Newmark's retail business, which includes leasing, investment sales and retail occupier services alongside Excess Space Retail Services Inc., a Newmark company specializing in real estate disposition and lease restructuring. Robert K. Futterman will serve as chairman of Newmark RKF, Newmark's retail leasing division, and will be responsible for leading the growth of the company's retail real estate business throughout North America. "For the last two decades we have attained our leadership position in the retail real estate industry by investing in our people and building a strong brand and culture," says Futterman, chairman and CEO of RKF. "We have had many choices in partners over the years but having known both Howard Lutnick and Barry Gosin for many decades, this partnership feels like family. We are thrilled to expand the RKF brand to grow Newmark's retail platform nationally." CBRE ARRANGES $133 MILLION SALE OF WESTGATE ENTERTAINMENT DISTRICT IN METRO PHOENIX CBRE has arranged the $133 million sale of Westgate Entertainment District, a mixed- use development located in Glendale, Arizona. YAM Westgate, a venture formed by Scottsdale-based YAM Properties, purchased the 46.6-acre entertainment, retail and office destination, including 30 acres of undeveloped land, from The New Westgate LLC, formed by iStar Properties. Philip Voorhees, Jimmy Slusher, Kirk Brummer, Sean Heitzler, Jesse Goldsmith, Steve Julius and Bryan Taute of CBRE represented the seller and buyer in the deal. Opened in 2016, the Westgate Entertainment District features more than 40 retailers and restaurants, including a 20-screen AMC Theatre, Dave & Busters and Yard House. Additionally, the property offers 159,026 square feet of Class A office space, as well as 76 multifamily lofts located on the upper floors. INVENTRUST ACQUIRES WHOLE FOODS- ANCHORED KENNESAW MARKETPLACE IN METRO ATLANTA FOR $64.3 MILLION InvenTrust Properties Corp. has acquired Kennesaw Marketplace, a 114,000-square- foot retail center in the northwest Atlanta suburb of Kennesaw, Georgia, for $64.3 million. Fuqua Development opened the center in 2017. Whole Foods Market anchors the development, which was 99 percent leased at the time of sale. Westgate Entertainment District, which recently sold for $133 million, features more than 40 retailers and restaurants, including a 20-screen AMC Theatre. RealINSIGHT Marketplace is pleased to offer the opportunity to acquire commercial real estate through our online sales platform. Centre at Kings Lake Humble, TX • 21k SF Neighborhood Retail Center • Exceptional Value-Add Opportunity • Strong, Long-term Tenancy • Advantageous Demographics - growth forecasted at 8.5% through 2023 and income levels twice national figures Popeyes Louisiana Kitchen Vienna, GA • Opportunity to acquire the Fee Simple Interest in a NN Lease • Franchisee Guaranteed Lease w/ Experienced Multi-Brand Operator • 14 years remaining on the initial term with four, 5-year extension options Lake City Commons Lake City, GA • Opportunity to acquire the Fee Simple Interest in Stabilized Grocery-Anchored Shopping Center • 91k SF located outside Atlanta, GA • 98% occupied by Local and National Tenants Bringing Buyers, Sellers and Brokers together. | 1-800-915-7015 SALE EVENT JULY 23-25 REPRESENTATIVE PHOTO

Articles in this issue

Links on this page

Archives of this issue

view archives of Shopping Center Business - JUL 2018