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REAL ESTATE

  • Federal Realty Celebrates a Half-Century in Retail

    As one of the oldest REITs in existence today, Federal Realty Investment Trust has every right to send up some fireworks over reaching the 50-year mark this year.

    The Rockville, Md.-based real estate company was established in 1962 with three properties in the metropolitan Washington, D.C., area, including Congressional Plaza (shown here, both then and now). Today, Federal Realty’s portfolio comprises about 19.3 million sq. ft. primarily in its core base of the northeastern and Mid-Atlantic U.S., as well as in California.

  • Dick’s Sporting Goods to open 487th store

    Pittsburgh -- Dick's Sporting Goods will open a store in Union, N.J., on May 2.

    The Union location will be the retailer's 16th store in the state of New Jersey and its 487th nationwide.
     

  • Westwood buys retail center in Macon, Ga.

    Macon, Ga. -- Westwood Financial Corp., one of the nation’s largest owner-operators of shopping centers, has purchased Wesleyan Station, an 86,631-sq-.ft, retail center in Macon, Ga., for $8.9 million from a private seller.

  • Westwood sells Pacific Plaza Shopping Center

    Ontario, Calif. -- Westwood Financial Corp. has sold Pacific Plaza Shopping Center located at in Ontario, Calif., for $7.4 million.

    “This transaction is the latest in our firm’s overall plan to rebalance our portfolio, as the funds generated here will be reinvested in grocery-anchored properties in the Southeast,” said Westwood financial executive VP Joe Dykstra.

  • Marcus & Millichap names Denver retail exec

    Denver -- Marcus & Millichap Real Estate Investment Services announced that Jon Hendrickson has been named associate director of the firm’s National Retail Group in Denver.

    Hendrickson joined Marcus & Millichap’s sales intern program in 2004, became an agent in 2006 and was promoted to senior associate in 2009.
     
     

  • Hanley Investment Group names new exec

    Irvine, Calif. -- Hanley Investment Group Real Estate Advisors said that Jonathan Selznick has joined the company as VP.

    Selznick was most recently a broker with Pacific Commercial Investments in Irvine, Calif., where he advised clients on the acquisition and disposition of retail investment properties.
     

  • Sawgrass Mills to break ground on expansion

    Sunrise, Fla. -- Indianapolis-based Simon Property Group announced that Sawgrass Mills, the largest outlet, value retail and entertainment destination in the United States with more than 350 stores, will soon break ground on its newest phase of development to increase the footprint of The Colonnade Outlets at Sawgrass Mills. 

    This milestone also represents the soon-to-be-completed 140,000-sq.-ft. retail expansion of the south side of the property.

  • Parmida Home debuts in Virginia

    Fredericksburg, Va. -- Youngstown, Ohio-based Cafaro Co. announced that Parmida Home will open a new store at The Village at Towne Centre, near Fredericksburg, Va.

    The 6,900-sq.-ft. store is slated to open in early November across from Sephora.

    The Village at Towne Centre is the outdoor shopping district of Spotsylvania Towne Centre, a 1.7 million-sq.-ft. complex offering more than 120 department stores, specialty shops, restaurants, hotels and entertainment venues.
     

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