Shopping Center Business

MAY 2016

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

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16 • SHOPPING CENTER BUSINESS • May 2016 NEWSLINE JOSS REALTY PARTNERS ACQUIRES NAPA SQUARE IN DOWNTOWN NAPA FOR $39.25 MILLION JOSS Realty Partners has acquired Napa Square, a 65,848-square-foot mixed-use asset located in downtown Napa, Cal- ifornia, for $39.25 million. Originally built in 1957 and redeveloped in 2009, Napa Square is LEED Gold certifed and features 41,010 square feet of offce space and 24,848 square feet of ground foor retail. The 92 percent leased center is oc- cupied by Wells Fargo, Charles Schwab, U.S. Bank and UPS, and is anchored by Oenotri, a southern Italian restaurant, and The Norman Rose Tavern, a neigh- borhood pub. Nicholas Bicardo, Scott Pertel, Danny Reddin and Brandon Ro- goff of HFF represented the seller, CDI Cos., in the transaction. Jordan Angel of HFF secured a $22.3 million acquisition loan with J.P. Morgan Asset Management on behalf of JOSS. MID-AMERICA ARRANGES SALE OF 163,252-SQUARE-FOOT RETAIL CENTER IN WISCONSIN Mid-America Real Estate Corporation's Investment Sales team has arranged the sale of Regency Point Shopping Center, a 163,252-square-foot retail center locat- ed in Racine, Wisconsin. Bed Bath & Beyond, DSW, Hobby Lobby and T.J. Maxx anchor the center. Rick Drogosz, Ben Wineman and Dan Rosenfeld of Mid-America represented the seller, The Redmond Co., in the sale of the property to Bonnie Management Corp. BACELINE INVESTMENTS ACQUIRES TWO SHOPPING CENTERS Baceline Investments LLC has acquired two shopping centers totaling 115,000 square feet in the Chicago suburb of Hazel Crest, Illinois, and Birmingham, Alabama. Acquisitions include The Com- mons at Hazel Crest, a 51,222-square-foot shopping center anchored by Dollar Tree and CSL Plasma in Hazel Crest; and Roe- buck Plaza, a 63,677-square-foot shop- ping center anchored by CVS/pharmacy and O'Reilly Auto Parts in Birmingham. The Commons at Hazel Crest was ac- quired for $4 million, and Roebuck Plaza was acquired for $4.4 million. REGENCY SELLS 207,000-SQUARE-FOOT RETAIL CENTER IN EVANSVILLE Regency Properties has sold Village Com- mons, a 207,000-square-foot shopping center located in Evansville, Indiana. The center, located off the Lloyd Expressway, is home to tenants including Gander Mountain, Hobby Lobby and Ross Dress for Less. Oenotri, a southern Italian restaurant, and The Norman Rose Tavern, a neighborhood pub, anchor Napa Square.

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