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Some of the week's retail property and shopping center transactions from around the U.S.:
• Wheeler Real Estate Investment Trust agreed to pay $85.6 million, through a subsidiary, for JANAF Shopping Yard, an 887,900-square-foot center in Norfolk, Va., anchored by Big Lots, BJ’s Wholesale Club and T.J.Maxx. The center is 94 percent occupied.
• Jamestown LP paid Terra $72 million for Doral (Fla.) Commons, a 140,000-square-foot center anchored by Publix and tenanted by AT&T, Citibank, GNC, McDonald’s and T.J.Maxx. The center is adjacent to Terra’s 319-home Modern Doral housing development.
• GBT Realty Corp. paid Kimco Realty $25.5 million for Overlook Village, a 153,800-square-foot center in Asheville, N.C. The property is 80 percent leased, and its tenants include T.J.Maxx and Ross Dress for Less.
• RAF Pacifica Group paid $24 million for the 39,000-square-foot retail portion of Pacific Station, a 100,000 square-foot, mixed-use asset in Encinitas, Calif., encompassing residential, office and retail space. Tenants include Amazon.com, Wells Fargo and Whole Foods.
• Baceline Investments paid McCownGordon Construction $6.3 million for Piper Plaza, in Kansas City, Kan. Tenants include Quest Diagnostics, The UPS Store and a few smaller tenants.
• New Cutler Bay Shops, LLC, paid Lider Net Mall, LLC, nearly $4.9 million for The Shoppes of Old Cutler, a nearly 15,000-square-foot strip center in Cutler Bay, Fla.
• Fata Organization, LLC, paid $3.2 million for a newly developed, 2,500-square-foot property in Fontana, Calif., triple-net-leased to Starbucks. The single-tenant property is an outparcel of Palm Court Center, a 630,000-square-foot power center anchored by Ross Dress for Less, Super Target, T.J.Maxx and 24 Hour Fitness.
By Brannon Boswell
Executive Editor, Commerce + Communities Today