Shopping Center Business

OCT 2018

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

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8 • SHOPPING CENTER BUSINESS • October 2018 NEWSLINE CBRE, BROOKFIELD PROPERTY PARTNERS BUY THREE REGIONAL MALLS FROM GGP FOR MORE THAN $1 BILLION CBRE Global Investors has formed a joint venture with Brookfield Property Partners to purchase three super-region- al malls totaling 3.7 million square feet from General Growth Properties. As part of the transaction, CBRE is purchasing a 49 percent stake in the three malls from Brookfield Property Paertners. The sales price for the portfolio was not disclosed, but The Wall Street Journal reports the deal is valued at more than $1 billion. The assets include Cumberland Mall, a 1 mil- lion-square-foot mall in northwest Atlan- ta; Ridgedale Center, a 1.2 million-square- foot mall in the western Minneapolis suburb of Minnetonka; and The Parks Mall at Arlington, a 1.5 million-square- foot mall in the Dallas/Fort Worth metro- plex. The three malls were 98 percent leased at the time of sale to tenants in- cluding Amazon Pop-Up, AMC Theatres, Apple Store, Barnes & Noble, Chick-fil-A, Costco, Dick's Sporting Goods, Dillard's, Disney Store, DSW, H&M, Macy's, Nordstrom, Nordstrom Rack, Old Navy, Pottery Barn, Sears, Starbucks Coffee, Williams-Sonoma and Victoria's Secret. The GGP operations and leasing teams will continue to operate the portfolio as property manager and leasing agent. HFF SECURES $27.5 MILLION SALE OF HOUMA SHOPPING CENTER IN LOUISIANA HFF has secured the $27.2 million sale of Houma Shopping Center, a 204,879-square-foot shopping center in the southern Louisiana community of Houma, located 57 miles southwest of New Orleans. Jim Hamilton, Barry Brown, Andrew Levy, Ryan Shore, Brad Buchanan, Michael Allison and Ryan Stoffer of HFF arranged the transaction on behalf of the seller, Viking Partners LLC. Gregg Shapiro of HFF arranged a five-year, $16.2 million acquisition loan through Goldman Sachs on behalf of the undisclosed buyer. Houma Shopping Center was fully leased at the time of sale to tenants such as Marshalls, HomeGoods, Planet Fitness, Office Depot, Petco, Pro Nails, Burger King, Outback Steakhouse and Chili's Bar & Grill. Walmart Supercenter shadow- anchors the center. EG GROUP TO ACQUIRE 225 MINIT MART STORES, ADDITIONAL ASSETS FOR $305 MILLION British gas station and convenience store operator EG Group has agreed to acquire a portfolio of real estate assets, includ- ing 225 Minit Mart-branded stores, for $305 million. The seller was Westlake, Houma Shopping Center was fully leased when sold by Viking Partners to tenants such as Marshalls, HomeGoods, Planet Fitness, Outback Steakhouse and Chili's Bar & Grill. 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 trašc 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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