REAL ESTATE

Best Buy renews at Aventura Commons

BY Michael Fickes

Aventura, Fla. — Best Buy has signed a long-term lease renewal for 45,729 sq. ft. at Aventura Commons in Aventura, Fla., according to the Berkowitz Development Group, the landlord.

Other national tenants in the 267,000-sq.-ft. center include Target, Whole Foods, PetSmart and Ulta.

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REAL ESTATE

Gander Mountain to Bayport Commons in Oldsmar, Fla.

BY CSA STAFF

New York — Kite Realty Group has signed Gander Mountain into a 30,045-sq.-ft. space at Bayport Commons in Oldsmar, Fla., a northwest suburb of Tampa. CBRE represented Gander Mountain in the transaction.

A Super Target, Michaels and PetSmart. Anchor the 276,918-sq.-ft. center. About 64,400 people live within a three-mile radius of the center. The estimated average household income is $71,200.

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REAL ESTATE

Deer Grove in Palatine, Ill., bought for $20 million

BY Michael Fickes

Chicago — Transwestern’s Chicago office has brokered the sale of the 236,173-sq.-ft. Deer Grove Shopping Centre in Palatine, Ill., to Ramco Gershenson for $20 million. Transwestern www.transwestern.net represented the seller, C-III Asset Management.

The property is anchored by Dominick’s, a Chicago-based grocer, and national tenants including TJ Maxx/Home Goods, Petco and Staples. A Target and Home Depot shadow anchor the property.

The property was 81% leased at the time of the sale, including the newly executed TJ Maxx/Home Goods lease. The national retail chain is expected to improve traffic at the property and increase future leasing prospects.

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