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Lakeshore-Mall-Redevelopment_Gainesville-Ga
DevelopmentGeorgiaMallsMixed-useNews

Branch Properties Plans Mixed-Use Redevelopment of 492,798-Square-Foot Lakeshore Mall in Gainesville, Georgia

by Hayden Spiess

Gainesville, Ga. — Branch Properties has announced plans for the redevelopment of Lakeshore Mall, a 492,798-square-foot retail property located in Gainesville, roughly 55 miles northeast of Atlanta.  Plans for the mixed-use redevelopment include 305,444 square feet of retail space, as well as 652 multifamily units and 38,200 square feet of outdoor community greenspace. The property will also have the capacity for the future development of a hotel and townhomes.  Current Lakeshore Mall anchors Dick’s Sporting Goods and Belk will remain open throughout the project, with the former relocating to a new …

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Woodland-Mall_Grand-Rapids-Mich
FinanceMallsMichiganNews

PREIT Secures $80 Million Refinancing for Woodland Mall in Grand Rapids, Michigan

by Hayden Spiess

Grand Rapids, Mich. — PREIT has received an $80 million mortgage for the refinancing of Woodland Mall in Grand Rapids. Tenants at the recently redeveloped property include Von Maur, The Cheesecake Factory, Sephora and Urban Outfitters. According to the company, the refinancing will save PREIT roughly $5 million in interest expense over the life of the loan. JLL arranged the financing through a commercial mortgage-backed security (CMBS) lender. 

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Investment salesMissouriNews

Sky Real Estate Acquires 391,000-Square-Foot Retail Center in Central Missouri

by Hayden Spiess

Osage Beach, Mo. — Sky Real Estate has acquired Osage Beach Outlet Marketplace, a 391,000-square-foot retail center located on a 60-acre parcel in Osage Beach. Tenants at the property include Polo Ralph Lauren, Under Armour, Bath & Body Works and LOFT. A subsidiary of Simon Property Group sold the center for an undisclosed price. 

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CaliforniaInvestment salesNews

Marcus & Millichap Brokers $10.8 Million Sale of Shopping Center in Southern California

by Hayden Spiess

Yucaipa, Calif. — Marcus & Millichap has brokered the $10.8 million sale of Center Point Plaza, a shopping center located in Yucaipa. Constructed in 2007, the property totals 28,924 square feet. Ivan Prochko, Orbell Ovaness and Ara Rostamian of Marcus & Millichap’s Ovaness-Rostamian Group represented the seller, an undisclosed partnership, in the transaction. Bashir Tariq of Keller Williams Realty represented the buyer, a private investor. 

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Investment salesNew JerseyNews

CenterSquare Acquires 16,891-Square-Foot Retail Center in Metro Philadelphia

by Hayden Spiess

Voorhees, N.J. — CenterSquare has acquired Cedar Hill Shopping Center, a 16,891-square-foot retail center located in Voorhees, roughly 20 miles southeast of Philadelphia. Tenants at the property, which was fully leased at the time of sale, include Starbucks Coffee, Orange Theory, UPS, Great Clips, Vitamin Shoppe and AT&T. This marks CenterSquare’s first service property acquisition in metro Philadelphia.

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Outlet-Collection-Seattle_Auburn-Wash
GeorgiaInvestment salesNewsWashington

Lightstone Acquires Outlet Collection Seattle for $82 Million

by Hayden Spiess

Auburn, Wash. — Lightstone has acquired The Outlet Collection Seattle, an enclosed mall located in Auburn, roughly 30 miles south of Seattle. Tenants at the property, which totals 920,000 square feet, include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta Beauty, Coach, Nike, Adidas and Michael Kors. The mall was 98 percent occupied at the time of acquisition. Lightstone plans to implement $10 million of capital improvements and tenancy upgrades. Nicholas King, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors will manage outlet …

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North-Point-Village_Alpharetta
GeorgiaInvestment salesNews

Coro Realty Sells Shopping Center in Metro Atlanta for $19 Million

by Hayden Spiess

Alpharetta, Ga. — Coro Realty Advisors has sold North Point Village, a 57,219-square-foot shopping center located in the northern Atlanta suburb of Alpharetta. Mimms Enterprises purchased the property for $19 million. Fred Victor of Atlantic Retail brokered the transaction. Tenants at the center, which is situated on 5.2 acres adjacent to North Point Mall, include Talbots, Kohler and Learning Express.

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Target-Rendering
LeasingNew JerseyNews

Target to Open 75,500-Square-Foot Store at Flemington Marketplace in New Jersey

by Hayden Spiess

Flemington, N.J. — Target will open a 75,500-square-foot store at Flemington Marketplace in Flemington, serving as an anchor tenant at the 239,000-square-foot retail center. Vanessa Kelty of Levin Management Corp. represented the landlord, a client of New York Life Real Estate Investors (NYLREI), in the lease negotiations. Jeff Howard of Ripco Real Estate served as the tenant broker. Target will occupy a former Burlington space at the center. Other tenants at the property include Kohl’s, Michaels, ALDI, Chili’s, Panera Bread, Hallmark, Verizon Wireless, Poke Café, Cold Stone Creamery and Nail Imagine …

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Lake-Vista-Center_Lewisville-Texas
Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 21,298-Square-Foot Retail Center in Metro Dallas

by Hayden Spiess

Lewisville, Texas — Marcus & Millichap has brokered the sale of Lake Vista Center, a 21,298-square-foot retail center located in Lewisville, roughly 25 miles northwest of Dallas. Built in 2007, the property comprises two buildings, Tenants at the center include Lucky Smiles, Lewisville Salon Suites and Spa, USCR Taekwondo, Tiff’s Treats, 4Thirteen Kitchen and Sports Bar and Lucky Smoke Shop. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller in the transaction. 

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LeasingNewsOhio

10 New Tenants Sign Leases at Easton Town Center in Columbus, Ohio

by Hayden Spiess

Columbus, Ohio — 10 new tenants have signed leases at Easton Town Center, a retail center located within the 1,300-acre Easton mixed-use development in Columbus. CHANEL Fragrance and Beauty Boutique, David Yurman, Louis Vuitton, Hollister, Mugsy, Bluemercury, Tecovas, Rowan, BoxLunch and Mikey’s Late Night Slice are now open at the property, with gorjana, Faherty, Bar Italia and Altar’d State scheduled to open soon. Diamond Cellar will also expand its footprint at the center. Steiner + Associates manages and leases Easton Town Center. 

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