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Price Check for Centers
Here’s something you may not have heard in a while: Competition from multiple buyers is causing a spike in the price of many shopping centers. This isn’t a minor bubble, either — it has become apparent to me that the extremely competitive nature of the current market has led to some dramatic overpricing. From my perspective, many of the price tags on power centers and grocery-anchored neighborhood centers (and, to a lesser extent, traditional malls and unanchored strip centers) are getting out of touch with reality.
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River Crossing adds a dollar store
Tucson, Ariz. — Gordon’s Dollar Plus Store has signed a lease for a 2,586-sq.-ft. apace at River Crossing in Tucson. Gordon’s Dollar Plus Store is licensed by Discount Dollar Store Services of Las Vegas. Plans call for the new store to open in mid-December.
Commercial Retail Advisors represented the landlord, La Cholla and River Road Associates in the transaction. DDSS Real Estate represented the tenant.