Shopping Center Business

AUG 2018

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

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8 • SHOPPING CENTER BUSINESS • August 2018 NEWSLINE NKF CAPITAL MARKETS ARRANGES $58.5 MILLION SALE OF BROADWAY PLAZA IN METRO SAN DIEGO NKF Capital Markets has arranged the $58.5 million sale of Broadway Plaza, a 356,335-square-foot shop- ping center in Chula Vista, California, located nine miles southeast of San Diego. The center was fully leased at the time of sale to tenants including Walmart, Costco, Verizon, Subway, Chase Bank, Petco and GameStop. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF represented the sell- er, Kimco Realty. The buyer, Protea Properties LLC, was self-represented in the transaction. DIG ARRANGES $48 MILLION SALE OF THREE SHOPPING CENTERS IN TEXAS Disney Investment Group (DIG) has ar- ranged the sales of three shopping centers totaling 359,309 square feet in the Dallas and Houston metros. The portfolio in- cludes Vista Ridge Plaza and Shops at Vista Ridge in Lewisville, Texas, 25 miles northwest of Dallas, and Tomball Town Center in Tomball, Texas, located 22 miles northwest of Houston. The assets sold to private buyers for a combined $48 million. Kimco Realty sold Vista Ridge Plaza and Shops at Vista Ridge. Prima- ry tenants at the properties include Bed Bath & Beyond, DSW, Pier 1 Imports and Half Price Books. InvestTrust Properties sold Tomball Town Center, which was 91 percent leased at the time of sale. A Kro- ger Signature store shadow-anchors the building. David Disney and Adam Crock- ett of DIG represented both sellers in the transactions and procured the buyers. GAZIT-GLOBE ACQUIRES LEASEHOLD INTEREST IN BROOKLYN'S CEASAR'S BAY SHOPPING CENTER FOR $43 MILLION Gazit-Globe has acquired a leasehold interest in the Ceasar's Bay Shopping Center in the Gravesend neighborhood of Brooklyn, New York. The Tel Aviv- based real estate company has acquired a 50 percent membership interest in SALTRU Associates Joint Venture LLC, a joint venture with Surrey Eq- uities, which owns the leasehold inter- est in the shopping center. Gazit-Globe also acquired an approximately 50 percent interest in CBB Shore Parkway LLC, also a joint venture with Surrey Equities, which owns a tenant-in-com- mon ownership interest in the proper- ty. Gazit-Globe's total investment was $43 million. The 300,000-square-foot shopping center is home to tenants such as Best Buy, Modell's Sporting Goods, Five Guys, Starbucks Coffee, Kohl's, Kay Jewelers and Olive Gar- den. Pryor Cashman's Todd Soloway, Danielle Schechner, Ari Tran and Ari Buchen represented Gazit-Globe in the transaction. A Kroger Signature store shadow-anchors Tomball Town Center in Tomball, Texas.. The center was recently sold. 6 7 8 . 7 1 8 . 1 8 8 0 / / w w w . c p d i s p o . c o m A T L A N T A / / G R E A T E R L O S A N G E L E S / / T A M P A Where Potential Property Value Generates Profits Decades Of Experience ...Take Advantage O f Our Fortune 25 Expertise A STRATEGIC FIT

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