REAL ESTATE

Combined names director of acquisitions

BY Michael Fickes

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Washington, D.C. — Combined Properties has appointed Gary Scott senior director of acquisitions. He will lead Combined’s efforts to acquire core and core-plus retail and multifamily properties in both of the firm’s primary markets: Southern California and the Washington, D.C., region. He will also dispose of selected assets it the company’s portfolio. In addition, he will seek out prospective value-added properties on both coasts.

Scott brings more than 20 years of commercial real estate experience to the firm, most recently with Weingarten Realty Investors, where he served as regional director of acquisitions for the Western United States. In that capacity, he sourced and closed transactions representing approximately 1.5 million sq. ft. at a total value in excess of $300 million.

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REAL ESTATE

Bridal Collection to Fairways Plaza, Centennial, Colo.

BY Michael Fickes

Denver — The Bridal Collection has leased an 18,030-sq.-ft. location at Fairways Plaza in Centennial, Colo. Fairways is a 121,256-sq.-ft. neighborhood center.

Transwestern represented the landlord, LNR Partners, in the transaction.

The bridal boutique has planned a May opening.

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REAL ESTATE

Sold: Fishers Crossing in Fishers, Ind., for $4.1 million

BY Michael Fickes

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New York — Viking Partners, a private equity real estate firm, has sold the Fishers Crossing shopping center in Fishers, Ind., to a private California investor for $4.1 million. The tenant lineup in the 29,569-sq.-ft. center includes Advance America, Pet Supplies Plus, Papa John’s Pizza, Elegant Nails, Café Korea and Krav Maga. A strong Kroger supermarket shadow anchors the center.

Fishers Crossing was just 55% leased when Viking Partners Fund II LLC acquired it in early 2012. Located in an established Indianapolis suburb, the center has strong demographics. More than 54,000 vehicles pass by every day. The trade area population is 156,309, and the average household income is $92,679.

The excellent demographics enabled the Viking Partners fund to lease the property fully within two years. Pet Supplies Plus, a national tenant, took the largest vacancy, a 6,400-sq.-ft. space.

Marcus & Millichap brokered the sale, while Katz, Teller, Brant & Hild provided legal counsel to Viking.

Viking Partners seeks to acquire value-added real estate opportunities located in the Midwest and Southeast with a transaction range of $2 million to $25 million.

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