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  • New Market closes on 34th center

    Formed just three years ago, an aggressive acquirers of grocery-anchored centers has purchased its 34th property.   New Market Properties, a wholly-owned subsidiary of Preferred Apartment Communities, has acquired Irmo Station, a Kroger-anchored center in Columbia, South Carolina. The company targets high-yield suburban markets in Texas and the mid-Atlantic and Southeast regions and market-leading grocery anchors such as Publix, Kroger, and HEB.  

  • Tennessee center to get new owner and new image

    The willow is associated with weeping, and the appearance of WillowTree Plaza in Cookeville, Tennessee, is certainly sad by modern standards. But now the center near Tennessee Tech University has a new owner and, soon, will get a new look.   Boca Raton-based Fimiani Partners has purchased the 110,000-sq.-ft. center for $4.2 million and plans to invest in a new roof, a repaved parking lot, and a new paint job for Willow Tree.  

  • Chinese mall installs ‘husband pods’

    Finally, an experiential retail breakthrough for the guys!   The 3 million-sq.-ft. Global Harbor Mall in Shanghai, one of Asia’s largest, has installed “husband pods” to keep men occupied while their wives or other domestic partners shop.   Each pod is padded out with a comfortable gaming chair, state of the art monitors, computer, and gamepad where the retail-weary can while away an hour playing vintage games from the Nineties.   

  • New life for struggling Bay Area mall

    A 40-year-old mall in San Francisco’s East Bay that was put on the auction block has been snatched up by a partnership that pledges to revitalize the “irreplaceable” property.   New owners LGB Real Estate Companies and Aviva Investors see a successful, mixed-use future for the 1.1 million-sq.-ft. retail center.  

  • Ratings service: B malls still reasonably strong

    Death knells for B-Class malls are rung regularly by the general business press and tech pundits, but a major ratings service is telling investors to hold off on funeral plans.   “There’s certainly been far more store closings in 2017 than in previous years…but I think it’s fair to say that investors are comfortable that bricks-and-mortar retail won’t disappear,” said Fitch Ratings managing director Huxley Somerville in a video released by the company this week.  

  • Houston power center changes hands

    Dunhill Partners has acquired The Center at Pearland Parkway in Houston, which houses T.J. Maxx and Ross Dress for Less and is shadow-anchored by an HEB grocery store. Seller Stream Realty Partners did not disclose the sale price.   "Due to the ideal spacing between the two closest major retail nodes, the Center at Pearland Parkway offers tenants the ability to capture this under-served community with limited competition," said Stream managing director Mark Sondock.  

  • Big new center takes shape in Tucson

    Bourn Companies has broken ground at a retail center on Tucson’s south side that could eventually add 600,000-sq.-ft. of retail space to the city.   About 220,000-sq.-ft. of that space is taking shape and expected to be completed by the end of the year at Fashion Park Shopping Center, located on Irvington Road at the intersection of Interstate 19. Complete build-out is expected by 2020.  

  • Inland notches another Texas center

    One of the most active acquirers in the retail real estate business has made its 292nd purchase in the great State of Texas.    Inland Real Estate Acquisitions announced the purchase of Denton Village in the town of the same name, situated 40 miles north of Dallas. The North Dallas region has been a hotbed of job growth, housing starts, and new retail development.  
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