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Terranova, Acadia acquire three buildings in $52 million deal
Miami Beach, Fla. -- Joint venture affiliates of Terranova Corp. and Acadia Realty Trust announced they have closed on the acquisition of three Lincoln Road properties in Miami Beach, Fla.
The approximately $52 million deal adds just over 61,000 sq. ft. to their urban street-front retail portfolios.
Current tenants at the properties include Starbucks, Geox Shoes, and Zagat-rated restaurants Sushi Samba Dromo and Tacontento. Terranova will manage and lease the Lincoln Road properties.
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Panda Express to open at Scharrington Square
Schaumburg, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that Panda Express signed a lease for 2,400 sq. ft. of space at Scharrington Square in Schaumburg, Ill., a northwest suburb of Chicago.
Panda Express is slated to open this summer.
Renewing leases at the 187,812-sq.-ft. Scharrington Square are anchor Jewel/Osco for 64,925 sq. ft. of space, and Panera Bread for 4,500 sq. ft. of space, which has plans to add a drive-through service.