Shopping Center Business

MAY 2018

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

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30 • SHOPPING CENTER BUSINESS • May 2018 NEWSLINE PHILLIPS EDISON ACQUIRES 135,437-SQUARE-FOOT SHOPPING CENTER Phillips Edison & Co. has acquired Shoppes of Lake Village, a 135,437-square- foot shopping center in the Central Florida community of Leesburg. The name of the seller and sales price were not disclosed. Publix anchors the center, which is also home to tenants such as Advance Auto Parts, Dollar Tree, H&R Block, Bon Worth, Wells Fargo Bank and Wireless Unlimited. CBRE ARRANGES $11.4 MILLION SALE OF SHOPPING CENTER IN CENTRAL FLORIDA CBRE has arranged the $11.4 million sale of Winter Garden Regional Shopping Center, a 128,973-square-foot shopping center in Winter Garden, Florida. David Donnellan, Daniel Baker and Patricia Friend of CBRE arranged the transaction on behalf of the seller, Amera Winter Garden Ltd. Core Winter Garden LLC acquired the asset. Tenants include Aldi, Harbor Freight Tools, Dollar General and Orange County Tax Collector. Deconstructing The Big Box T H O U G H T D E S I G N I N S P I RAT I O N A RC H I T ECT U R E P L A N N I N G M I X E D U S E PROVO TOWNE CENTRE Provo, Utah Brixton Capital ktgy.com R E TA I L E R U P DAT E FIVE BELOW, HOMEGOODS TO OPEN AT PREIT'S REPOSITIONED MAGNOLIA MALL An 8,500-square-foot Five Below and a 20,000-square-foot HomeGoods will join the tenant mix at PREIT's Magnolia Mall in Florence, South Carolina. The first-to-region retailers join Burlington, which opened in 2017, backfilling the space formerly occupied by Sears. In addition to these openings, H&M will open later this year, Chick- fil-A is expanding its location to include indoor seating, and Texas Roadhouse will lease an outparcel location. PREIT has also renewed a 10-year lease with Belk, which will undergo a store remodel. RH OPENS 46,000-SQUARE-FOOT GALLERY IN PORTLAND'S ALPHABET DISTRICT RH (Restoration Hardware) has opened a 46,000-square-foot location in Portland, Oregon's historic Alphabet District. The four-story building features installations of home furnishings in a galley setting, with entire floors dedicated to RH Interiors, RH Modern and RH Outdoor. RH Portland also includes an interactive Design Atelier, offering professional design services in a studio environment. WHOLE FOODS MARKET TO OPEN AT BUTLER TOWN CENTER Whole Foods Market will open a 40,000-square-foot location at Butler Town Center, a 450,000-square-foot, planned mixed-use development in Gainesville, Florida. The store will offer grab-and-go prepared foods, as well as made-in-house sushi, pizza, and a self-serve bar for coffee, tea, espresso, cold juices and natural sodas. The grand opening for the new store will be held on May 9.

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