Shopping Center Business

AUG 2018

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

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12 • SHOPPING CENTER BUSINESS • August 2018 NEWSLINE ties, an affiliate of Preferred Apartment Communities, acquired the property. The purchase price was not disclosed, but the company financed the acquisition using an $18.5 million, first mortgage loan from Nationwide Financial Services Inc. Braw- ley Commons was constructed in 1998 and redeveloped in 2016 with the addi- tion of a new 49,098-square-foot Publix. Additional tenants at the center include Pet Supermarket, MOD Pizza, Orangeth- eory Fitness, SuperCuts and Jersey Mikes. HFF ARRANGES $13.8 MILLION SALE OF RETAIL PROPERTY IN NEAR PITTSBURGH HFF has arranged the $13.8 million sale of a 53,000-square-foot, sin- gle-tenant retail property in Wexford, Pennsylvania, 17 miles north of Pitts- burgh. Marc Mandel, Steve Schrenk, Coler Yoakam, Mark West and Mi- chael George of HFF represented the seller, an undisclosed REIT, in the transaction. A private East Coast buy- er purchased the asset. Additionally, HFF secured an $8.5 million, 20-year, fixed-rate loan with Protective Life In- surance Company for the buyer. Levin Furniture occupies the building under a triple net lease that expires in 20 years. JLL ARRANGES $11.2 MILLION SALE OF OCOTILLO PLAZA IN ARIZONA JLL has arranged the sale of Ocoti- llo Plaza, a retail building located in Chandler, Arizona's Ocotillo area. Thompson Thrift Retail Group sold the property to Slater Avenue II for $11.2 million. The 121,829-square- foot building was renovated from a former Target store into a multi- tenant retail property. Current tenants include Goodwill, Shoppers Supply, and a home and outdoor supply re- tailer. Peter Bauman, Tivon Moffitt, Dennis Desmond and Tyson Swit- zenberg of JLL represented the seller, while Nina Patel represented the buy- er in the deal. HANLEY INVESTMENT GROUP ARRANGES SALE OF RENAISSANCE SQUARE IN FORT WORTH Hanley Investment Group Real Estate Advisors has arranged the sale of Re- naissance Square, a 105,605-square- foot shopping center in Fort Worth, Texas. Eric Wohl and Andrew Cun- ningham of Hanley Investment Group arranged the transaction on behalf of the buyer, Albanese Cormier Hold- ings. Jeffrey Jackson of CBRE repre- sented the seller, Moriah Real Estate Co. The sales price was not disclosed. A Walmart Supercenter shadow-an- chors the center, which was 98.5 percent leased at the time of sale to tenants including Ross Dress for Less, Brawley Commons in metro Charlotte, North Carolina, was recently acquired by New Market Properties. Hilltop Plaza Md Route 450 & Race Track Rd. Bowie, MD 20715 • Over 95% leased • Strong national retailers including Aldi, Dollar Tree, Advance Auto, Walgreens and Dunkin Donuts • Excellent household incomes within 5 miles (average of $136,000) Contact: Jim Farrell, 571.382.1229 RETAIL OPPORTUNITIES For more information on ALL of Bowie's Opportunities, contact: John Henry King Economic Development Director, City of Bowie, Maryland 15901 Excalibur Road Bowie, MD 20716 301.809.3042 | fax 301.809.2315 Pointer Ridge Plaza 1334 Crain Highway Bowie, MD 20716 • High traffic counts on Route 301 (over 60,000 cars per day) • Renovated facade • Mature and stable housing market surrounding center Contact: Jim Farrell, 571.382.1229 Bowie Marketplace 15455 to 15511 Annapolis Rd. Bowie, MD 20715 • Brand New! • Ample and convenient parking! • Great tenant mix with Harris Teeter! Contact: Brian Berman, 301.816.1555

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