Business Deals
Sep 1, 2008 12:00 PM
American Continental Properties, LLC appointed Levin Management Corp. as leasing and managing agent for Monroe Plaza, a 156,000-sq.-ft. grocery-anchored shopping center in Monroe, N.Y.
ING Clarion Partners LLC introduced a firm-wide sustainable growth initiative for new acquisitions, development projects and asset management of real estate investments. The program will encourage transactions involving properties with sustainable design components.
Jones Lang LaSalle has been appointed as the exclusive leasing and managing agent for Macon Mall, a 1.4-million-sq.-ft. regional shopping center in Macon, Ga. John Fee and Brian Olivi will handle this assignment on behalf of Jones Lang LaSalle.
Jones Lang LaSalle has been appointed as the exclusive leasing and managing agent for West Oaks Mall, a 1.1-million-square-foot regional mall in Houston. Brenda Ford and Tony Daniel will handle this assignment on behalf of Jones Lang LaSalle.
Trademark Property purchased the Padre Staples Mall, a 1.0-million-sq.-ft. superregional mall in Corpus Christi, Texas. The company plans to launch a $50 million renovation of the property to be completed in the fall of 2009.
Holliday Fenoglio Fowler, L.P. negotiated the sale of Roosevelt Raceway Center, a 427,000-sq.-ft. power shopping center in Westbury, N.Y., from ING Clarion Partners, LLC to the Mattone Group and Gartenstein Properties for $103 million. Glenn Whitmore and Robert Delitsky, of Holliday Fenoglio, represented the buyers in the transaction. Holliday Fenoglio also arranged the $71 million acquisition loan for the sale.
Jones Lang LaSalle has been appointed as the exclusive leasing and managing agent for Burlington Square Mall, a 415,000-sq.-ft. regional mall in Burlington, N.C. John Fee and Roma Williams will handle this assignment on behalf of Jones Lang LaSalle.
GFI Capital Resources Group launched GFI Retail Group, a real estate entity that will acquire and broker transactions involving retail properties. GFI Retail Group will focus on exclusive portfolios and act as a broker for a select group of real estate owners, as well as serving as an exclusive tenant representative for retailers. Lon Rubackin will lead the new venture.
Catherine Timko launched Community Retail Catalysts, a company that will work with communities across North America to create and implement data-driven retail attraction strategies. Timko will serve as CEO and David M. Nellis as president of Community Retail Catalysts.
Gemini Real Estate Advisors, LLC acquired Johnstown Galleria, a 354,625-sq.-ft. regional mall in Johnston, Pa.
L&B Realty Advisors, LLP and Barship & Oles Co. acquired Brodie Oaks Shopping Center, a 244,242-sq.-ft. mixed-use complex in Austin, Texas, from Weingarten Realty Investors. Jim Batjer, Barry Brown, Doug Hazelbaker and Judy Boyd, of Holliday Fenoglio, represented the seller in the transaction.
Marcus & Millichap Real Estate Investment Services negotiated the sale of Olathe Pointe, a 289,455-sq.-ft. shopping center in Olathe, Kan., from Maefield Development Corp. to Arciterra for $30 million. John Riser, of Marcus & Millichap, represented both parties in the transaction.
Cohen Financial secured a $27 million refinancing for the Northgate North Shopping Center, a 306,000-sq.-ft. retail center in Seattle. The loan featured a four-year term. Joel Simmons negotiated this transaction.
Equibase Capital Group, LLC provided a $7 million mezzanine loan for the development of the Gateway at Scarborough, a large mixed-use development in Scarborough, Maine.
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