Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
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22 • SHOPPING CENTER BUSINESS • December 2016 NEWSLINE CARLYLE REALTY PARTNERS V SELLS CENTENNIAL SHOPS FOR $32 MILLION IN MINNESOTA Carlyle Realty Partners V LP has sold Cen- tennial Shops in Edina to Ramco-Gersh- enson Properties Trust for $32 million. The sale of the shopping center, located along France Avenue at 3825 Gallagher Drive, is the largest transaction by dollar amount for a retail property in the Minne- apolis-St. Paul market so far this year. The 85,200-square-foot lifestyle center was 100 percent leased at the time of sale to tenants including West Elm and The Con- tainer Store. George Good and Jim Leary of CBRE marketed the property for sale. COLLIERS ARRANGES $22.4 MILLION SALE OF THE SHOPPES AT CENTRE POINTE IN NORTH CHARLESTON Colliers International has arranged the $22.4 million sale of The Shoppes at Centre Pointe, a 112,302-square-foot shopping center located in North Fifteen Piedmont Center 3575 Piedmont Road, Suite 800 Atlanta, GA 30305 • 404.907.1709 Please visit www.fuquadevelopment.com for all upcoming projects NEW PLACES MAKING lots of Madison Yards • Atlanta, GA • Spring 2018 17-acre Mixed-Use Redevelopment Proposed 130,000 SF of Retail & Restaurant Space, 90,000 SF Loft Office Space, 400 Multi-family Units and 200 Senior Units. Other Projects Under Development: The Battery Atlanta at SunTrust Park | Decatur Crossing | Glenwood Place Kennesaw Marketplace | Lindbergh Place | Morningside Heights | Northside & 17th Peachtree Corners Market | Sugarloaf Marketplace | Peachtree Corners Town Center Riverside & Jackson | Brookwood Quarters | North Palm Marketplace | 360 Tech Village R E TA I L E R U P DAT E TRACTOR SUPPLY ACQUIRES PETSENSE IN $116 MILLION TRANSACTION Tractor Supply Co., a rural lifestyle retail chain with 1,575 stores in 49 states, has purchased Petsense LLC, a pet supply retailer with 136 stores in 25 states. The transaction price was $116 million, including estimated fu- ture tax benefits of $29 million. Pet- sense will operate as a subsidiary of Tractor Supply Co. from Petsense's current headquarters in Scottsdale, Arizona, and will continue to be led by members of Petsense's senior management team. Tractor Sup- ply plans to continue to grow the Petsense store base at a target rate of 15 percent to 20 percent annual- ly and will convert its two existing HomeTown Pet stores to Petsense stores. Peter J. Solomon Co. acted as exclusive financial advisor and Bass, Berry & Sims PLC acted as legal ad- visor to Tractor Supply Co. William Blair & Co. acted as exclusive finan- cial advisor and Jenner & Block act- ed as legal advisor to Petsense. CINEMARK THEATRES TO OPEN 10-SCREEN LOCATION IN VALLEY RANCH TOWN CENTER Cinemark Theatres is planning to begin construction on a 10-screen theater in the entertainment district at Valley Ranch Town Center in The Woodlands, Texas. Valley Ranch is a 240-acre retail district developed by The Signorelli Co. The new theater will be Cinemark's 13th location in the Houston area. Each auditorium will feature electric reclining seats with adjustable head and foot rests, and the theater will offer reserved seating, online ticketing and self- serve concessions. The theater is ex- pected to be 40,000 square feet and will open in late 2017 or early 2018.