Cushman & Wakefield announced the sale of South Cape Village in Mashpee, Massachusetts, to Dividend Capital. The Cushman & Wakefield team oversaw the $35.45 million transaction of the Roche Brothers-anchored lifestyle center on behalf of Mashpee Investors, LLC.
Staten Island Mall announced that the 1.2-million-sq.-ft. property will undergo a much anticipated multi-million dollar redevelopment that will add interior and exterior upgrades, new fashion retailers, restaurants, a Fairway Market and public piazza for guests to gather and enjoy events year-round, including a farmers market, holiday festivities, fashion shows and community fundraisers.
JLL announced the expansion of its platform in Alabama with the addition of Shannon Tyndall and Allen Garstecki. Tyndall and Garstecki join JLL as VPs, and bring more than 20 years of combined experience to the firm.
“You can’t get your nails done online, you can’t get dry cleaning done online and you can’t eat the Internet.” These are the dominant themes from retail clients (property owners) over the last few years. Today’s shopping center acquirers are looking for “necessity centers” with a stable rent roll. These centers consist of restaurants, nail salons and other destination retail that is not competing with e-commerce.