AEW Capital Management acquired the 245,000-square-foot Center of Winter Park (Fla.), near Orlando, from Sterling Organization. Sterling, which originally paid nearly $28 million for the property in February 2013, replaced a vacant Kmart store there with an anchor lineup that includes a DSW, a Marshalls–HomeGoods combination store and a Ross Dress for Less. Moreover, an Office Depot was downsized and a Five Below opened. New leases were signed with Blaze Pizza, Great Clips, MetroPCS, Petco, Stretch Zone, Tropical Smoothie Café and Zoës Kitchen. Sterling also made extensive renovations.
Center of Winter Park (Fla.), near Orlando
Acadia Realty Trust acquired Elk Grove Commons, a 242,000-square-foot shopping center in Elk Grove, Calif., from Donahue Schriber. The sale was the largest single-asset retail transaction of the past three years in the Sacramento area, according to NKF Capital Markets, which represented the seller.
Sara Investment Real Estate acquired Penn American, a 58,500-square-foot center in Bloomington, Minn. Stan Johnson Co. represented the buyer, an unidentified Minneapolis developer.
Kroger’s acquisition of Delray Commons, a 74,000-square-foot center in Delray Beach, Fla., marks its first time in the state — where rival Publix dominates — in about 30 years, reports the Palm Beach Post. Kroger made the acquisition through a subsidiary, Topvalco, which also paid $2 million for an outparcel. The property will be anchored by a 29,000-square-foot Lucky’s Market. Kroger Co. forged a partnership with Lucky's in 2016.
A company registered to investor Anthony Caruso acquired the Pelican Walk Plaza, a landmarked building in Clearwater Beach, Fla., from Ben Mallah.
CC Fund II Maricopa LLC acquired Maricopa (Ariz.) Marketplace, a 95 percent–occupied shopping center, from LNR Partners. The property comprises five buildings. Kidder Mathews represented the seller.
Orange Holdings LLC sold the Firelite Shopping Center, in Orange, Conn., to 35 Old Tavern Road LLC for $3.8 million.
By Edmund Mander