Shopping Center Business

JUN 2018

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

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14 • SHOPPING CENTER BUSINESS • June 2018 NEWSLINE NKF ARRANGES $21 MILLION SALE OF MAINE CENTER NKF Capital Markets has arranged the $21 million sale of Falmouth Shopping Center in Falmouth, Maine. Geoffrey Millerd and Justin Smith of NKF Capital Markets, in conjunction with Mackenzie Simpson of Porta & Co. arranged the transaction on behalf of the seller, JPA Management. The buyer was not disclosed. Shaw's Supermarket anchors the center, which was 89 percent leased at the time of sale. CUSHMAN & WAKEFIELD ARRANGES $15 MILLION SALE OF SMITH'S-ANCHORED CENTER Cushman & Wakefield has arranged the $15 million sale of Tropicana Marketplace, a 69,430-square-foot shopping center in Las Vegas. Michael Hackett and Ryan Schubert of Cushman & Wakefield arranged the transaction on behalf of the seller, Weingarten Realty. Tropicana Square LLC acquired the asset. Smith's anchors the center, which was 86.2 percent leased at the time of sale. Additional tenants include Family Dollar, Chase Bank, Pacific Dental, Supercuts and Pearle Vision. CALKAIN ARRANGES $14.9 MILLION SALE OF RETAIL, OFFICE BUILDING Calkain Cos. has arranged the $14.9 million sale of MacArthur Retail & Professional Center, a 45,543-square- foot mixed-use in Washington D.C.'s Palisades neighborhood. Rick Fernandez and Andrew Fallon of Calkain Cos. arranged the transaction on behalf of the undisclosed seller. A group of New York- based private investors acquired the asset, which was 90 percent leased at the time of sale to tenants such as Starbucks Coffee and The UPS Store on the ground floor. The upper two floors of the building house office space. PAC ACQUIRES TWO PUBLIX-ANCHORED CENTERS Preferred Apartment Communities (PAC) has acquired two grocery-anchored shopping centers totaling 139,000 square feet in Acworth, Georgia, and Gallatin, Tennessee. PAC acquired the assets through its wholly owned subsidiary, New Market Properties. The name of the seller and sales price were not disclosed. In Acworth, PAC acquired Governors Towne Square. The center is located roughly 32 miles northwest of Atlanta. In Gallatin, a suburb located 30 miles northeast of Nashville, PAC acquired Greensboro Village. Publix anchors both shopping centers. TIME EQUITIES ACQUIRES TENNESSEE CENTER FOR $13.9 MILLION Time Equities Inc. (TEI) has acquired Governor's Crossing, a 140,568-square- foot shopping center in Sevierville, Smith's anchors Tropicana Marketplace in Las Vegas, which was 86.2 percent leased at the time of sale.

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