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Karlin Real Estate acquires two Phoenix-area centers
Phoenix -- Los Angeles-based Karlin Real Estate said it has acquired through foreclosure two Phoenix-area shopping centers totaling nearly 220,000 sq. ft.
The move follows the firm's purchase of a non-performing loan portfolio with an aggregate unpaid principal of approximately $65.5 million.
The Boulevard at Surprise Pointe is a 201,223-sq.-ft. lifestyle center in Surprise, Ariz., anchored by a Walgreens and UltraStar Cinemas.
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REI to make South Carolina debut
Greenville, S.C. -- Charlotte, N.C.-based The Chambers Group, an X Team partner, said it has completed a lease for the first REI in South Carolina.
The outdoor equipment retailer will join The Point shopping center, a Whole Foods-anchored property located in Greenville, S.C., and owned by Beachwood, Ohio-based Developers Diversified Realty.
REI will occupy 22,000 sq. ft. of a former Circuit City space.