REAL ESTATE

Hammond Aire Plaza in Baton Rouge, Louisiana sold

BY Melonie Messina

Baton Rouge — JLL’s Capital Markets experts announced the firm has closed the sale of Hammond Aire Plaza located in Baton Rouge, Louisiana, on behalf of Kimco Realty. The asset was purchased by a joint venture partnership between DRA Advisors and Viking Partners.

Managing director Margaret Caldwell, VP Diane Roberts and associate Eric Spencer led the JLL team on the transaction.

Hammond Aire Plaza is currently 92% occupied, nearly 350,000 sq. ft. community center and is home to Baton Rouge’s only Marshalls, Stein Mart, Burlington Coat Factory and K&G Fashion Superstore.

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REAL ESTATE

Inland acquires grocery-anchored Marketplace at Tech Center

BY Melonie Messina

Newport News, Va. — Inland Real Estate Income Trust announced the acquisition of the approximately 210,000-sq. ft. Marketplace at Tech Center, a newly constructed grocery-anchored power center, in Newport News, Virginia. Mark Cosenza, VP of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Income Trust.

“Marketplace at Tech Center is a terrific addition to Inland Income Trust’s retail portfolio because of its exceptional variety of high-caliber grocery, restaurant, clothing and retail offerings,” said Mitchell Sabshon, president and CEO of Inland Real Estate Investment Corporation. “With its diverse tenant mix, strong demographics and ideal location near major employers, including the Thomas Jefferson National Accelerator Facility, Marketplace at Tech Center is a dominant retail property in the market and is well positioned for future growth.”

Marketplace at Tech Center feature retailers include Whole Foods, Steinmart, DSW, Ulta Beauty, Five Below, BJ’s Brewhouse, Mattress Firm, AT&T and Massage Envy.

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REAL ESTATE

Sporting goods retailer continues to expand

BY Marianne Wilson

Sportsman’s Warehouse is expanding its operations.

The company will open three new stores, with locations in Prescott, Arizona; Rock Springs, Wyoming; and Gillette, Wyoming. The stores, which will feature the retailer’s small format model, will open in the summer of 2016.

The Prescott store will be Sportsman’s Warehouse’s sixth store in Arizona, while the two Wyoming stores will bring the number of the chain’s locations in the state to four.

These stores will feature an extensive selection of hunting, fishing and camping equipment geared toward the local market, as well as a wide range of apparel and footwear. As with all Sportsman’s Warehouse locations, the store will also feature instruction, seminars and special events related to outdoor activities.

“We are excited to increase our presence throughout the western United States in markets we know very well," noted John Schaefer, Sportsman’s Warehouse CEO. "The addition of these stores keeps with our business plan, promoting stable growth that will benefit our company, our vendors, and most importantly, our loyal customers for many years to come. Each of these areas has a strong outdoor heritage, and we plan to become an active, contributing partner in each of these great communities.”

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