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Transactions roundup

March 8, 2018

Some of the past week's more notable retail property transactions:

Zapolski Real Estate purchased the 130,000-square-foot, Whole Foods–anchored Asheville (N.C.) Market from Edens for $33 million. NorthMarq Capital arranged the financing for the buyer through Citigroup Global Markets. Berkeley Capital Advisors represented the seller.

• Kimco Realty sold the Talavi Towne Center, a 118,400-square-foot center in Glendale, Ariz., to Talavi Bell LLC for $21.9 million. Lee & Associates represented both parties. Walmart anchors the center, among whose other tenants are Dollar Tree, Michaels, Payless ShoeSource and Mor Furniture.

• Boca Raton, Fla.–based Pebb Enterprises sold the second phase of Marketplace at Four Corners, in Bainbridge Township, Ohio, for $15.8 million. The 116,400-square-foot shopping center was purchased by RE Ohio Family LLC, a Santa Ana, Calif., real estate investor. The center is fully leased, with Old Navy and Stein Mart among the tenants. Pebb bought the then-empty center in 2013 from a lender, rebuilt it and brought in tenants.

• Concord Capital New York paid a loan servicer just over $4 million for Playtogs Shopping Plaza, an 800,000-square-foot mixed-use development with 200,000 square feet of gross leasable area, on the border of Middletown and Wallkill, N.Y.  The center is 40 percent leased to Carvel, Family Dollar, Mavis Discount Tire, Middletown Cinemas, Rent-A-Center, TD Bank and others.

By Brannon Boswell

Executive Editor/SCT