Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
Issue link: http://shoppingcenterbusiness.epubxp.com/i/752067
20 • SHOPPING CENTER BUSINESS • December 2016 NEWSLINE shopping center to be named Oak Mead- ows Marketplace. A 57,655-square-foot Randalls Food & Drugs will anchor the 77,050-square-foot project. Construction is expected to begin in January 2017, with a completion date scheduled for Novem- ber of that year. SRS Real Estate Partners will be in charge of leasing for the center. CBRE ARRANGES $13.4 MILLION SALE OF SHOPS ON HILL IN PASADENA CBRE has arranged the $13.4 million sale of Shops on Hill, a 32,685-square-foot mixed-use center located in Pasadena, California. The two buildings are located on opposite corners of the intersection of East Washington Boulevard and North Hill Avenue, and feature 12 apartments with ground floor retail. Shops on Hill LLC, an entity controlled by Engine Real Estate, acquired the property. ROUSE PROPERTIES ACQUIRES THE SHOPS AT SOMERSET SQUARE IN CONNECTICUT FOR $42 MILLION Rouse Properties has acquired The Shops at Somerset Square, a 115,000-square-foot lifestyle center located in the Hartford suburb of Glastonbury, Connecticut, for $42 million. Tenants at the center include Francesca's, Victoria's Secret, White House Black Market, Chicos, Talbots, Chipotle and Starbucks Coffee. The property also features office and medical space. The seller was The HB Nitkin Group. SH CORP. SELLS FREESTANDING SHOPRITE IN CONNECTICUT FOR $10.8 MILLION SH Corp. has sold a freestanding, 65,303-square-foot ShopRite located in Orange, Connecticut, for $10.8 million. Jim Koury of HFF marketed the property on behalf of the seller, SH Corp., and pro- cured the buyer, AS Realty LLC. ShopRite has a 20-year net lease at the property. MARCUS & MILLICHAP ARRANGES $13.1 MILLION SALE OF REGIONAL POWER CENTER IN MICHIGAN Marcus & Millichap has arranged the sale of The Shoppes at Green Oak, a regional power center located at 6650 Whitmore Lake Road in Brighton, Michigan. A pri- vate investor acquired the property for $13.1 million. Built in 2005 on nearly 11 acres, the 103,231-square-foot center is occupied by Kohl's, TGI Fridays, Fifth Third Bank, Wendy's, Olive Garden and Discount Tire. Simon Jonna and Mike James of Marcus & Millichap represent- ed the undisclosed seller, while Ashish Vakhariya, also of Marcus & Millichap, represented the buyer. CBRE recently arranged the sale of Shops on Hill, a 32,685-square-foot mixed-use development in Pasadena.