Deals

Rancho Cucamonga, Calif. -- Passco Companies has acquired Day Creek Village located in in Rancho Cucamonga, California for $15.8 million.

Day Creek Village is a neighborhood shopping center in the second largest submarket in California’s Inland Empire market. The 25,002 sq. ft. center is 100% leased and is shadow-anchored by a Ralph’s grocery store, and currently has 14 tenants, including Starbucks, Wells Fargo, Super Cuts, Subway, and Orange Theory Fitness.

Newport News, Va. -- Inland Real Estate Income Trust announced the acquisition of the approximately 210,000-sq. ft. Marketplace at Tech Center, a newly constructed grocery-anchored power center, in Newport News, Virginia. Mark Cosenza, VP of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Income Trust.

Alamo, Calif. -- Donahue Schriber Realty Group announced that it acquired Alamo Plaza located in Alamo, California from Investco Advisors late 2015.

The 195,147 sq. ft. shopping center is anchored by Safeway and features Rite-Aid, 24 Hour Fitness, Richards Arts and Crafts, Peet’s Coffee & Tea, Panera Bread, and more.

Bellevue, Tenn. -- Crosland Southeast and Branch Properties have entered into a joint venture to acquire Bellevue Center Mall, an 87-acre property, located in Bellevue Tennessee. Crosland and Branch will collaborate to develop the retail component of the project and will rebrand the Bellevue Center Mall as One Bellevue Place. The projected costs for the redevelopment are approximately $200 million.

Plymouth Meeting, Pa. -- Metro Commercial Real Estate announced it has negotiated 13 new store openings for Dollar Tree in Pennsylvania.

Dollar Tree a value-driven variety store operating at a one-dollar price point, with stores where Middle America lives and shops and incorporates the philosophy of bright stores, big signs, and a clean environment.

St. Petersburg, Fla. -- The Sembler Company added 420,000 sq. ft. of new acquisitions to its portfolio in 2015, in addition to breaking ground on three new shopping centers and inking deals for three more – all while maintaining more than 95% portfolio occupancy.

The Finish Line has promoted its president to CEO and plans to close a quarter of its stores as the retailer said supply chain problems hurt its third quarter performance.

The retailer announced that Sam Sato will succeed Glenn Lyon as CEO of The Finish Line, Inc., effective Feb. 28. Lyon will transition to the role of non-executive chairman of the board.

Nordstrom continues to expand its off-price format, with plans to open a Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-sq.-ft. store, leased from Seritage Growth Properties is scheduled to open in fall 2016.

Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-sq.-ft. center is located south of downtown Boston and near main highways including I-93, I-95 and Route 3.