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Industry News

Transactions: Who’s paying how much for what

December 19, 2019

$155 million
Federal Realty sold an 11.7-acre portion of San Antonio Center, in Mountain View, Calif., under threat of condemnation for the eventual construction of a school by the Los Altos School District. Tenants on the sold portion of the land include Kohl's, 24 Hour Fitness, Jo-ann, and small shops. Tenant condemnation awards, yet to be finalized, will be paid out of Federal Realty’s sale proceeds.

$73 million
First Washington Realty acquired The Shops Gainey Village, a 138,444-square-foot retail center in Scottsdale, Ariz., from Principal Life Insurance and Madison Marquette. Sprouts Farmers Market anchors the project.

$63 million
Consolidated-Tomoka purchased The Strand, a 212,000-square-foot shopping center in Jacksonville, Fla., through a 1031 exchange. Colliers
International will oversee the property’s leasing and management.

$26.5 million
Miami-based Out of the Box Ventures bought the 1.5 million-square-foot Lakeside Mall, in Sterling Heights, Mich., from a special servicer. The company plans to add mixed uses to the property.

$22 million
Site Centers purchased Southtown Center, a 43,669-square-foot center in Tampa, Fla., from an Australia-based fund advised by CenterSquare. Tenants include Moe’s Southwest Grill, Tropical Smoothie Café, Cold Stone Creamery and Weight Watchers.

$16.4 million
IMC Equity Group bought the 56,968-square-foot, Aroma Market-anchored Stirling Town Center, in Cooper City, Fla., from an LLC.

$16 million
Gershman Properties bought the 23,076-square-foot San Elijo Hills Town Center, in San Marcos, Calif., from Ambient Communities. Anchors at the property include Starbucks and Cyclebar.

$8.3 million
Franklin Street represented an LLC in the purchase of the 51,381-square-foot Regency Point in Jacksonville, Fla., from Phoenix-based Sand Capitol. Tenants include Champs Sports, Foot Locker, Skechers, T-Mobile and Wingstop.

$7.1 million
Finard Properties bought the 309,000-square-foot Greendale Mall, in Worcester, Mass.,  from real estate investment firm C-III Partners.  Tenants include T.J. Maxx, Greendale Furniture, DSW, and Reliant Medical Group.

$4.9 million
Birmingham, Ala.-based Sanders Capital Partners acquired The Shops at Bashford Center, a 29,339-square-foot, Target-anchored center, in Louisville, Ky. The seller was an Illinois-based LLC.

By Brannon Boswell

Executive Editor, Commerce + Communities Today