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A roundup of the past week's more notable retail property deals:
• M&J Wilkow and a client of MetLife Investment Management acquired Southlands, a 1 million-square-foot retail and office property in southeast Aurora, Colo., for $142 million. Tenants include AMC Theatres, Bed Bath & Beyond, Dick’s Sporting Goods (under construction) and H&M. Southlands features a traditional power center component and an open-air lifestyle component called the Town Center, with offices just above the retailers.
• Various unidentified buyers acquired six retail pads at Perris (Calif.) Marketplace, a 225,000-square-foot Walmart Supercenter–anchored center, in transactions totaling some $29.5 million. The owners are Evergreen Development and Trachman Indevco, which were represented by Hanley Investment Group: Real Estate Advisors.
• GBT Realty paid Retail Properties of America $25.5 million for Governor's Marketplace, a 250,000-square-foot power center in Tallahassee, Fla. Among the tenants are Bed Bath & Beyond, David's Bridal, Marshalls, Michaels, Old Navy, Petco and ULTA.
• Publix Super Markets bought the 81,800-square-foot Duval Station Marketplace, in Jacksonville, Fla., from Duval Station Investment LLC for $15 million. Tenants there include Bono’s Pit Bar-B-Q, Edible Arrangements, Golden Ox Liquors, Fuji Sushi & Grill and The UPS Store.
• Uniland Development will pay $14.5 million to Mountain Development for a 50 percent stake in the 80-acre Eastern Hills Mall, Williamsville, N.Y. The companies aim to spend some $200 million to transform the property into a mixed-use center over the next three years. In a separate deal, Uniland paid $851,185 for the mall's former Macy's store, which Mountain had bought from Macy's for nearly $1.9 million in 2016.
• ATS Residential paid Madison Square Group nearly $5.2 million for Madison Square, a 38,700-square-foot retail plaza in Tampa, Fla., in a deal brokered by Tiktin Real Estate Investment Services. The fully occupied center is anchored by Family Dollar.
• Regency Centers sold the 81,000-square-foot Fort Caroline Trading Post shopping center, in Jacksonville, Fla., to IMC Equity Group for $3.5 million. The center, anchored by a Winn-Dixie supermarket, is fully leased.
• Clover Investment Properties purchased the 33,000-square-foot Palms Plaza, in Tampa, Fla., from a private investor for $1.8 million. Tenants there include BayCare Urgent Care, H&R Block, Heavenly Nails and Performance Computer Group.
By Brannon Boswell
Executive Editor, Commerce + Communities Today