Retail
Blackstone to Buy Retail REIT for $650M
The group is expanding its footprint in Asia with the acquisition of Croesus Retail Trust, which owns a portfolio of 11 shopping malls in Japan.
Merger of Drugstore Giants Changes Course
Under the new $5.2 billion deal, Walgreens Boots Alliance will purchase 2,186 stores from Rite Aid Co., along with three distribution centers and related inventory.
Westwood Financial Lands Sixth NC Shopping Center
The Arbors at Mallard Creek, a 55,323 square-foot retail asset in Charlotte, is the company’s most recent acquisition. CBRE represented both the seller and the buyer in the $25.1 million transaction.
On the Market: 5 Interesting Listings for June
This month’s listings include a waterfront restaurant in Florida and a rustic retail storefront with second-floor condos in New Mexico.
Sacramento-Area Shopping Center Trades
Soma Capital Partners, the new owner of Blue Oaks Marketplace, plans general capital improvements to attract a business in the food service space.
New Retail Center Coming to Kemah, TX
Located in the Kemah Entertainment District, the 79,000-square-foot shopping center is already 92 percent leased to tenants including Petco, Marshalls, Ross Dress for Less, ULTA and Rack Room Shoes.
Hanley Closes Inland Empire Retail 1031 Exchange
The firm negotiated the sale of a 33,708-square-foot pad building occupied by T.J. Maxx and ULTA Beauty in La Quinta, Calif. for around $8.9 million.
JLL Helps SPENGA Settle in Houston
With roughly 40 locations in Illinois, Ohio, North Carolina and Colorado, the boutique fitness center enters the Houston market with a 4,011-square-foot studio.
Indiana Jiffy Lube Portfolio Changes Hands for $2.5M
The Boulder Group represented both the seller—a global real estate fund—and the buyer—a domestic private investment group—in the two-property transaction.
Woodmont to Lease Tennessee and North Carolina Properties
Biltmore Property Group plans to redevelop the Shops at Western Plaza and selected Woodmont’s John Geddis to lead marketing efforts at the properties.