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Urban Retail acquires pair of Michigan shopping centers for $51 million
Chicago -- Urban Retail Properties, LLC, announced the acquisition of Oakland Square and Oakland Plaza in Troy, Michigan, by its parent company RAIT Financial Trust. Purchase price was $50.8 million.
Both properties are adjacent to Oakland Mall, a 1.5-million-sq.-ft. super-regional center that Urban Retail currently manages.
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Fashion Outlets of Niagara Falls USA expansion set to open
Niagara Falls, N.Y. -- Macerich announced that its outlet property Fashion Outlets of Niagara Falls USA will open the doors of its planned expansion on Oct. 23. The new expansion delivers nearly 175,000 sq. ft. and opens with 35 new tenants, and more to come in 2015.