Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
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14 • SHOPPING CENTER BUSINESS • December 2016 NEWSLINE LEE & ASSOCIATES ARRANGES $72.5 MILLION SALE OF SONORA VILLAGE SHOPPING CENTER IN SCOTTSDALE Lee & Associates has arranged the $72.5 million sale of Sonora Village shop- ping center in Scottsdale, Arizona. Jan Fincham and Pat Dempsey of Lee & Associates facilitated the transaction for the buyer, Sonora Village LLC, and the seller, Sonora Village Investors LLC. The 269,369-square-foot shopping center is home to tenants including Best Buy, Staples, Party City and Pearle Vision. TRISTAR CAPITAL, RFR HOLDING SELL MIRACLE MILE SHOPS IN LAS VEGAS TriStar Capital and RFR Holding have sold Miracle Mile Shops, a 501,522-square- foot retail mall located at the Planet Hol- lywood Resort & Casino in Las Vegas. The shops were acquired by an affiliate of Institutional Mall Investors LLC, a venture co-owned by Miller Capital Advisory Inc. and CalPERS, for an un- disclosed amount. Axis Theatre — home to residency performers Britney Spears and Jennifer Lopez — anchors the center, which is also home to more than a mile of 200 shops, 13 restaurants and three ad- ditional live entertainment theaters. The mall also features direct access to Planet Hollywood's 100,000-square-foot casino. HFF advised the sellers in the transaction. ROSEWOOD REALTY ARRANGES $12.1 MILLION SALE OF FOUR-BUILDING RETAIL PORTFOLIO IN BROOKLYN Rosewood Realty Group has arranged the sale of a four-building retail portfo- lio in the Homecrest neighborhood of Brooklyn. Embkay by Select LLC sold the contiguous buildings to 325 Realty Inc. for $12.1 million. The 19,300-square- foot portfolio comprises 1805-1811, 1815 and 1817 Avenue U and 2073-2075 E. 18th St. Michael Guttman of Rosewood Realty represented the seller, while Guttman and Jacob Setton, also of Rosewood Realty, represented the buyer in the deal. LEHRCO CORP. ACQUIRES GROCERY- ANCHORED CENTER IN METRO WASHINGTON, D.C. Lehrco Corporation has acquired Dunkirk Gateway, a 133,269-square-foot, grocery-anchored shopping center locat- ed in Dunkirk, Maryland, roughly 25 miles outside Washington, D.C. Giant Food anchors the center, which is also home to tenants including Sherwin Williams, Olympia Sports, Ledo Pizza, Capital One Bank, Verizon Wireless, AutoZone, Bank of America and Starbucks Coffee. The center is shadow-anchored by Walmart. John Owendoff and Jordan Lex of HFF represented the seller, a commingled fund managed by Clarion Partners, in the transaction. MARCUS & MILLICHAP ARRANGES $7.8 MILLION SALE OF RETAIL PROPERTY IN CINCINNATI Marcus & Millichap has arranged the sale of a 57,692-square-foot Kroger located at 6401 Colerian Ave. in Cincinnati. A lo- cal REIT sold the property to an out-of- state REIT for $7.8 million. Craig Fuller, Scott Wiles and Erin Patton of Marcus & Millichap represented the seller and buyer in the deal. Bowie is one of the largest cities in Maryland. Bowie is also an excellent business location, easily accessed from Washington D.C., Annapolis and Baltimore. Bowie's proximity to these major cities brings business and workforce into the area via Routes 3, 50 and 301. Bowie has more than 90 restaurants, 200 shops, and a dozen recreation opportunities. With this winning combination of location, access and amenities your business is certain to grow and succeed. For space available details call: Bowie Marketplace Brian Berman, 301.816.1555 Bowie Plaza Lance Marine, 703.905.0331 Bowie Town Center Melodye Grim, 317.685.7295 Collington Plaza Scott Faloni, 410.693.3248 Free State Shopping Center Rich Abruscato, 301.998.8188 Hilltop Plaza Bruce Levine, 410.486.0800 x116 Pointer Ridge Plaza Jim Farrell, 571.382.1229 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 | jhking@cityofbowie.org Retail Opportunities to make your Mark in Bowie Median Household Income over $106,396 Average Household Income over $119,456