Charter Realty & Development to lease Oak Park Commons
South Plainfield, N.J. — Charter Realty said it has been selected to lease Oak Park Commons located in South Plainfield, N.J.
The single-story, 136,939-sq.-ft. community shopping center is anchored by A&P Supermarket in 60,025 sq. ft. and includes a mix of national, regional and local tenants.
Oak Park Commons is currently 76% occupied with 33,508 sq. ft. of available space.
WS Capital completes acquisition of Hilldale Shopping Center
Chestnut Hill, Mass. — WS Capital Partners, the institutional investment arm of WS Development, announced that it has completed the acquisition of Hilldale Shopping Center, a 474,000-sq.-ft. retail center located in Madison, Wis.
Anchored by Macy’s, Metcalfe’s Market, Sundance Cinemas and Target, Hilldale Shopping Center serves the entire Madison metropolitan area, including the nearby University of Wisconsin-Madison.
WSCP identified the off-market opportunity more than two years ago. It purchased the senior and junior non-performing loans on an all-cash basis in February, and successfully bid $52 million for both mortgages at a Sheriff’s sale in May. The bid was approved by the Dane County Court on June 4.
Inland raises $1.1 billion of investor capital
Oak Brook, Ill. — Inland Diversified Real Estate Trust announced it has raised over $1.1 billion of investor capital, which will be used to continue the company’s acquisitions of a diversified portfolio of commercial real estate properties.
“We believe that we have built an outstanding portfolio of stable, performing commercial real estate assets with very high occupancy, generating sustainable distributions for our investors,” said Barry Lazarus, president and COO of Inland Diversified.
As of June 30, Inland Diversified’s portfolio of assets totaled approximately $1.5 billion.