Shopping Center Business

MAY 2017

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

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32 • SHOPPING CENTER BUSINESS • May 2017 NEWSLINE 98 percent occupied at the time of sale by tenants including Cook Children's Health Foundation, Dollar General and Ace Hardware. The buyer was undisclosed. THE SILVER GROUP ARRANGES SALE OF SINGLE-TENANT PROPERTY IN DALLAS The Silver Group has arranged the sale of a single-tenant property occupied by LA Fitness, located at 13130 Preston Road, in Dallas. The 43,000-square-foot fitness center sits on 5.25 acres of land at Preston Road and the LBJ Freeway and is situated across the street from the old Valley View Mall, which is being transformed into a mixed-use development. The seller was an unnamed real estate investment trust, and the buyer was a Texas-based partnership formed to acquire the property. The Silver Group was the only broker involved with the sale. GBT ACQUIRES SOUTH PARK COMMONS IN SAN ANTONIO GBT Realty Corp. has acquired South Park Commons, a 12,600-square-foot shopping center located in San Antonio, Texas. The center is currently 70 percent leased to tenants including Aspen Dental, AT&T, GNC and Firehouse Subs. Target sold the property to GBT for $925,000. TIKTIN REAL ESTATE ARRANGES SALE OF CLEARLAKE SQUARE IN FLORIDA Tiktin Real Estate Investment Services has arranged the sale of Clearlake Square, an 85,522-square-foot shopping center located in Cocoa. Winn-Dixie anchors the property, which is also home to tenants including Family Dollar, Metro PCS and Jackson Hewitt. Adam Tiktin and Cliff Weisner of Tiktin represented both the sellers, Cocoa Commercial Properties LLC and Top of the Ridge LLC, and the buyer, ATS Residential, in cooperation with Steve Aberman of WBS Properties. REGENCY PROPERTIES ACQUIRES IRONWOOD COMMONS IN MICHIGAN Evansville, Indiana-based Regency Properties has acquired Ironwood Commons, a 196,053-square-foot shopping center located in Ironwood. Tenants at the center include Tractor Supply Company, Dunham's Sports, Maurices, Dollar Tree and Super One Foods. The center also offers two outparcels for future development. The seller and the terms of the transaction were undisclosed. ACADIA STRATEGIC OPPORTUNITY FUND IV ACQUIRES LINCOLN PLACE NEAR ST. LOUIS FOR $35.4 MILLION Acadia Strategic Opportunity Fund IV has acquired Lincoln Place in Fairview Heights near St. Louis for $35.4 million. The 272,060-square-foot shopping center is nearly fully leased to tenants including Kohl's, Ross Dress for Less, Old Navy, Marshalls and Mattress Firm, in addition to a separately owned Lowe's, Chili's and Chick-fil-A. Developed in 1999, the center was renovated in 2005. Amy Sands and Clinton Mitchell of HFF represented the seller, Spirit Realty Capital. Timothy Joyce of HFF secured a $23.1 million acquisition loan for the new owners. A national bank provided the five-year loan. Acadia Realty Trust manages Acadia Strategic Opportunity Fund IV. We HAVE WHAT YOU'RE Looking FOR Northland Plaza | DeKalb, Illinois Gateway Shopping Center | Machesney Park, Illinois 2425 State Highway 39 | Lebanon, Indiana 256 Green Bay Road | Highwood, Illinois Market Place Mall | Appleton, Wisconsin Centennial Crossing | Memphis, Tennessee Longin Square | Carpentersville, Illinois Sherman Plaza | Chicago, Illinois Village Square Center | Hazelwood, Missouri East Gate Commons | St. Charles, Illinois Former Staples | Lawrence, Indiana Chagrin Lee Square | Shaker Heights, Ohio City View Center | Garfield Heights, Ohio

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