Noting that necessity-based have proven to resistant to the pressures of online retailers, Westwood Co-CEO Randy Banchik announced his company’s acquisition of The Arbors at Mallard Creek in Charlotte. Purchase price was $25.1 million.
The Toronto-based Slate Retail REIT announced it has entered into an agreement to acquire five grocery-anchored centers in Florida and Pennsylvania for a total of $105 million.
GBT Realty purchased 11.7 acres of land in Kemah, Texas, with plans to build a 79,000-sq.-ft. shopping center, reported , a San Antonio news site. Purchase price was $2.1 million.
CBRE has widened its footprint in South Florida by buying the business assets of the Brenner Real Estate Group, which has offices in Fort Lauderdale, Boca Raton, and Melbourne.
Washington Prime Group and O’Connor Capital Partner announced the formation of a joint venture partnership in seven open-air retail centers. WPG will be the controlling partner with a 51% stake.
The seven properties are:
• Arbor Hills in Ann Arbor, Michigan;
Four more and he’ll match his age.
Twenty-four-year old Joel J. Gorjian, a VP at Great Neck, New York-based Namdar Realty Group, has made his 20th retail center purchase in the past 12 months, this time a mall in suburban Chicago.
News and analysis on buying and selling real estate for new retail centers.