MGHerring Joint Venture Acquires Two Centers

by Nate Hunter

Taunton, Mass., and Ocala, Fla. — The two properties, Silver City Galleria and Market Street at Heath Brook, include approximately 1.7 million square feet of retail.

Taunton, Mass., and Ocala, Fla. — The MGHerring Group and Tricom Real Estate Group have acquired Silver City Galleria in Taunton and Market Street at Heath Brook in Ocala. The acquisitions are the first transactions by the new joint venture partnership, which was formed to acquired value-add regional malls and lifestyle centers throughout the nation.

MGHerring and Tricom purchased the more than 1 million-square-foot Silver City Galleria from C-III Capital Partners. The two-level, enclosed shopping center is anchored by Macy’s, JC Penney, Sears, Best Buy, Dick’s Sporting Goods and a 10-screen Regal Cinemas.

Market Street at Heath Brook is an outdoor shopping center that includes 685,000 square feet of retail. Dillard’s and Dick’s Sporting Goods anchor the property. Additional tenants include Barnes & Noble, Old Navy and Panera Bread.

Tricom will oversee the asset management and leasing of the projects, while MGHerring will oversee property management and development.

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