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Cole acquires three retail centers for $130.9 million
Phoenix -- Cole Real Estate Investments said it has purchased three retail power centers totaling about 875,000 sq. ft. for $130.9 million.
The acquired properties are Hillside Town Center, a 165,000-sq.-ft. center in Hillside, Ill., for $27 million; White Oak Village, a 433,500-sq.-ft. property in Richmond, Va., for $68 million; and Barrow Crossing, a 276,000-sq.-ft. center in Winder, Ga., for $35.9 million. Barrow Crossing is a joint venture with Faison, the original developer of the property.
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Tuesday Morning loss widens in Q1; COO out
Dallas -- Tuesday Morning Corp. on Monday reported a loss of $7 million for the quarter ended Sept. 30, widened from a loss of $5.7 million in the year-ago quarter.
The clearance retailer’s new CEO Brady Churches also announced the departure of executive VP and COO Michael Marchetti, a 12-year veteran of Tuesday Morning.
In the first quarter, the company saw revenue edge up 1.3% to $172.8 million and same-store sales increased 1.7%.