Shopping Center Business

MAY 2018

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

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20 • SHOPPING CENTER BUSINESS • May 2018 NEWSLINE GBT REALTY ACQUIRES 243,000-SQUARE- FOOT SHOPPING CENTER FOR $25.5 MILLION GBT Realty Corp. has acquired Governor's Marketplace, a 243,000-square-foot shopping center in Tallahassee, Florida, for $25.5 million. Bill Fishel and Matthew Stewart of HFF arranged acquisition financing through MidCap Financial on behalf of GBT Realty, which acquired the property from Retail Properties of America Inc. (RPAI). Governor's Marketplace was 97 percent leased at the time of sale to tenants such as Carter's, Five Below, Marshall's, Michaels, Bed Bath & Beyond, Old Navy, Ulta Beauty, Petco and David's Bridal. The center's newest tenant is Urban Air, a family entertainment center with an indoor trampoline park that backfilled a former Sports Authority. FCA PARTNERS SELLS SHOPPING CENTER FOR $27.8 MILLION Charlotte-based FCA Partners has sold Shoppes of Boynton, a 151,000-square- foot shopping center in the South Florida city of Boynton Beach, for $27.8 million. Dennis Carson and Casey Rosen of CBRE arranged the transaction on behalf of FCA. Northbridge Investment Management acquired the property on behalf of an institutional client. Shoppes of Boynton is home to tenants such as Ross Dress for Less, Dollar Tree, Tuesday Morning, Ale House, Chili's, FedEx Office, MD Now and Pollo Tropical. The center was 87 percent leased at the time of sale. HFF ARRANGES SALE OF 407,363- SQUARE-FOOT RETAIL CENTER HFF has arranged the sale of Jefferson Pointe in Fort Wayne, Indiana, for an undisclosed price. The 407,363-square- foot retail center is home to tenants such as Carmike Cinemas, Bed Bath & Beyond, Barnes & Noble, Marshalls, Ulta Beauty, Old Navy, White House Black Market, Vera Bradley, Michaels and Tucanos Brazilian Grill. A separately owned Von Maur shadow anchors the property. The vacancy rate is around 20 percent, according to The Journal Gazette. Amy Sands, Clinton Mitchell, Barry Brown, Dave Keller and Claudia Steeb of HFF represented the seller, Institutional Mall Investors LLC, which was advised by Miller Capital Advisory Inc. Jefferson Pointe Center SPE LLC purchased the asset. Shoppes of Boynton is home to tenants such as Ross Dress for Less, Dollar Tree, Tuesday Morning, Ale House, Chili's, FedEx Office, MD Now and Pollo Tropical. Send your news to SCB scb@francemediainc.com

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