A look back at some of the past week's shopping center transactions:
• Publix Super Markets paid $47 million for Mirasol Walk, a shopping center in Palm Beach Gardens, Fla. Publix anchors the 82,375-square-foot center, which is also leased to Walgreens, Bank of America and other tenants.
• Blackstone Group paid $35.8 million for Plaza Del Sol, a 166,000-square-foot center in Burbank, Calif., anchored by a Vallarta supermarket.
• IMC Equity Group sold the 165,741-square-foot Good Homes Plaza, in Ocoee, Fla., to Slate Retail REIT for $23.8 million. Tenants include Publix, Pet Supermarket and Beall’s Outlet Store.
• The 120,983-square-foot Metropolitan Square mixed-use center in downtown Des Plaines, Ill., traded for $13.025 million. Marcus & Millichap represented the Dallas-based buyer aTabani Group and the seller, World Class Capital Group. The property’s retail space includes a 40,000-square-foot Shop & Save Market; a freestanding Fifth Third Bank; a 10,500-square-foot, multi-tenant strip center; and additional street-level retail in a contiguous condominium building and adjacent public parking garage. Also included in the sale was a three-story, 22,000-square-foot medical office building and 155 surface parking spots. In addition to Shop & Save, tenants include Tap House Grill, Panera Bread, Potbelly and Giordano’s.
Metropolitan Square The a 120,983-square-foot mixed-use center in downtown Des Plaines, Ill., traded for $13.025 million.
• Rok Properties paid Westwood Financial $17.8 million for Colonia Verde, a 98,940-square-foot, pharmacy-anchored center in Tucson, Ariz.
• Continental Realty Corp. paid Regency Centers $21.3 million for the Ridge Plaza, a 155,200-square-foot center in Davie, Fla., anchored by a cinema.
• Jade Enterprises sold the 334,939-square-foot Murrieta (Calif.) Town Center, to U.S. Realty Partners Inc., for $56.6 million. Tenants include Burlington, Ross Dress for Less, Famous Footwear, Sizzler, Rite Aid, Marshalls and Dollar Tree.
• Brixmor Property Group bought Upland Town Square, a 100,350-square-foot Sprouts Farmers Market-anchored center in Upland, Calif., for $31.7 million. Cushman & Wakefield worked on behalf of seller IRA Capital.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
