Shopping Center Business

MAY 2016

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

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18 • SHOPPING CENTER BUSINESS • May 2016 NEWSLINE VESTAR ACQUIRES JAMES CENTER IN METRO SEATTLE FOR $31.4 MILLION Vestar has acquired James Center, a 140,240-square-foot shopping center lo- cated in Tacoma, Washington, for $31.4 million. The center is located at 6901 S. 19th St. directly across from Tacoma Community College. Tenants at James Center include Fred Meyer, Rite Aid, Star- bucks Coffee, Subway, U.S. Bank, IHOP, FedEx, Kinko's and Ivar's. Over the past 12 months, Vestar has acquired fve retail centers valued at $670 million throughout the western U.S. CORO REALTY ACQUIRES NORTH POINT VILLAGE PHASE I IN METRO ATLANTA Coro Realty Advisors has acquired North Point Village Phase I, a 57,219-square-foot retail center located in the Atlanta suburb of Alpharetta, Georgia. The property was purchased in an off-market transaction coordinated by John Speros and Sean Pat- rick of Ackerman & Co. Tenants at the center include Talbots, Jos. A Bank, Ann Taylor LOFT, Lane Bryant and Learning Express. MID-AMERICA ARRANGES $15 MILLION SALE OF FENTON COMMONS IN METRO ST. LOUIS Mid-America Real Estate Corp. has ar- ranged the $15 million sale of Fenton Commons, an 82,242-square-foot shop- ping center located in the St. Louis sub- urb of Fenton, Illinois. Best Buy, Old Navy and Barnes & Noble anchor the center, which also features Chili's and Bank of America outlots. Ben Wineman of Mid-America and Scott Seyfried of Pace Properties worked on behalf of the sell- er, a private St. Louis-based partnership. A group represented by GDA Real Estate acquired the property. BEDROCK REAL ESTATE ACQUIRES THE AVENUE SHOPS AT TOWER CITY CENTER FOR $56.5 MILLION Detroit-based Bedrock Real Estate Ser- vices has acquired The Avenue Shops at Tower City Center, a three-story, 366,000-square-foot retail center located in downtown Cleveland, from Forest City Realty Trust Inc. The sale price was $56.5 million, including contractual parking rights to approximately 3,300 associated parking spaces in attached decks and ad- jacent surface lots. The Avenue Shops at Tower City Center opened in 1990 after Forest City converted the historic Cleve- land Union Terminal into the shopping mall. The center is currently comprised of more than 100 retailers and restau- rants as well as an 11-screen movie theater. The Avenue Shops are connected to the Ritz-Carlton Hotel, Skylight Offce Tower and Terminal Tower, and via indoor walk- ways to Quicken Loans Arena and JACK Cleveland Casino. Tenants at James Center include Fred Meyer, Rite Aid and Starbucks Coffee.

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