• Protea Properties paid Kimco Realty $58.5 million for Broadway Plaza, a 356,300-square-foot shopping center in Chula Vista, Calif., anchored by Walmart and Costco. Other tenants at the fully leased center include Chase, GameStop, Panda Express and Verizon. NKF represented Kimco.
• A company affiliated with Trammel Crow Co.’s Crow Holdings Capital Real Estate paid North American Development Group $30.2 million for Palms Plaza, an 85,000-square-foot center in Boca Raton, Fla. Tenants there include Chase, Olive Garden and Party City.
Snowmass Mall, Aspen, Colo.
• Snowmass Mall Investment Group paid a subsidiary of Related Cos. $28 million for an 80,000-square-foot portion of the open-air Snowmass Mall, in Aspen, Colo. The tenants comprise retailers, restaurants and service businesses.
• RCG Ventures paid DRC PDK Salisbury nearly $14.3 million for The Commons, a 130,150-square-foot shopping center in Salisbury, Md., with Best Buy, Michaels and PetSmart as anchors. CBRE represented the seller.
• A local 1031 exchange investor paid Rodi Properties LLC and Zoeter Place LLC $12 million for a 22,500-square-foot retail center in Seal Beach, Calif., with service and medical tenants.
• A Los Angeles private investor paid an Orange County, Calif., private partnership $9.8 million for RC Plaza, a neighborhood shopping center in Rancho Cucamonga, Calif. The center comprises nine retail buildings totaling roughly 37,200 square feet. Hanley Investment Group Real Estate Advisors and Voit Real Estate Services represented the seller; Ophir Management Services stood in for the buyer.
• The Bedrin Organization paid Sackett Greensboro nearly $7.7 million for Gate City Shopping Center, a 126,000-square-foot shopping center in Greensboro, N.C. The tenants include Burlington, Dollar Tree and Office Depot.
By Edmund Mander
Director, Editor-In-Chief/SCT
