PREIT, which has long been pursuing a strategy of unloading underperforming malls from its portfolio, announced it has sold the Logan Valley Mall for $33.2 million net of credits issued to the buyer.
Citing favorable demographics and a steady income stream, Nazareth Enterprises acquired the Walmart Central Shopping Center in Folsom, California for $39.7 million.
A limited partnership has purchased the 110,359-sq.-ft. Southridge Plaza in Fontana, California for $20.7 million.
Kimco Realty has sold the Ambassador Plaza neighborhood center in Lafayette, Louisiana, to Westwood AC Properties for $5.3 million.
Phillips Edison has acquired another grocery-anchored center, this on in Bakersfield, California.
WillowTree Plaza in Cookeville, Tennessee has a new owner and, soon, will get a new look.
A 40-year-old mall in San Francisco’s East Bay that was put on the auction block has been snatched up by a partnership that pledges to revitalize the “irreplaceable” property.
Dunhill Partners has acquired The Center at Pearland Parkway in Houston, which houses T.J. Maxx and Ross Dress for Less and is shadow-anchored by an HEB grocery store.
One of the most active acquirers in the retail real estate business has made its 292nd purchase in the great State of Texas.
Dining and entertainment square footage continues to replace that of department stores in PREIT’s mall portfolio.