Shopping Center Business

SEP 2018

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

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22 • SHOPPING CENTER BUSINESS • September 2018 NEWSLINE CBRE ARRANGES $16.6 MILLION SALE OF PLAZA AT POWER MARKETPLACE IN ARIZONA CBRE has arranged the $16.6 million sale of Plaza at Power Marketplace, a 70,961-square-foot shopping center in Queen Creek, Arizona. Philip Voor- hees, Jimmy Slusher and Steve Julius of CBRE arranged the transaction on behalf of the seller, a private investor from New York, as well as the buyer, a family office based in California. LA Fitness anchors Plaza at Power Mar- ketplace, which was 93 percent leased at the time of sale. Additional tenants include Taco Bell, Dunkin Donuts and Edward Jones. FRANKLIN STREET, CBRE ARRANGE SALE OF MAGNOLIA SHOPPES IN FLORIDA Franklin Street and CBRE have ar- ranged the $23.2 million sale of Mag- nolia Shoppes, a 114,118-square-foot shopping center in the South Florida community of Coral Springs. Bryan Belk and John Tennant of Franklin Street arranged the transaction on behalf of the buyer, a private inves- tor from Lexington, Kentucky. Casey Rosen and Dennis Carson of CBRE represented the seller, Regency Cen- ters. In addition, Franklin Street ar- ranged a $15.5 million acquisition loan through Citibank on behalf of the buyer. Regal Cinemas anchors Magnolia Shoppes, which was fully leased at the time of sale. Additional tenants include Dollar Tree, Ben & Jerry's, Broward Health, H&R Block and W Salon & Spa. COLLIERS ARRANGES $16.3 MILLION SALE OF OPEN-AIR SHOPPING CENTER IN SOUTH CAROLINA Colliers International has brokered the $16.3 million sale of Village at Town Center I, a 288,000-square- foot, open-air shopping center in Co- lumbia, South Carolina. Joe Mont- gomery and Tony D'Ambrosio of Colliers arranged the transaction on behalf of the seller, a CMBS special servicer. Sandhill Center LLC, a South Florida-based private ownership group, acquired the asset. JC Penney and Books-A-Million anchor Village at Town Center, which was 84 percent leased at the time of sale. Additional tenants include Victoria's Secret, Ann Taylor, Loft, Jos. A Bank, Panera Bread, Blaze Pizza, Moe's Southwest Grill and Wild Wing Café. The prop- erty is the primary component of Vil- lage at Sandhill, a 300-acre mixed-use project. Village at Town Center I is home to tenants such as Victoria's Secret, Ann Taylor, Loft, Jos. A Bank, Panera Bread, Blaze Pizza, Moe's Southwest Grill and Wild Wing Café. 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

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