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Mid-America arranges sale of two RPAI centers
Oakbrook Terrace, Ill. — Mid-America Real Estate Corp. has brokered the sale of two centers on behalf of Retail Properties of America.
First, Phillips Edison & Company purchased the 134,229-sq.-ft. Duck Creek Plaza in Bettendorf, Iowa, for $19.7 million. Schnucks and Marshalls anchor Duck Creek Plaza, and Home Depot serves as a shadow anchor. Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate — Iowa LLC brokered the transaction exclusively on behalf of RPAI.
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CBRE: Tucson big boxes lease up in core locations
Tucson, Ariz. — Big-box retail space in Tucson, Ariz., has been leasing up, with the highest demand focused in core regional mall hubs. Big-box spaces in peripheral areas of the city remain vacant.
In the Park Place Mall area, for instance, big box properties are nearly fully leased, with some saying the area is ripe for redevelopment to accommodate future demand.