REAL ESTATE

Inland’s IREIT acquires Texas and Florida centers

BY Michael Fickes

Oak Brook, Ill. — Inland Real Estate Income Trust has acquired two shopping centers in Texas, and Florida, in separate transactions: Mansfield Pointe Shopping Center in Mansfield, Texas, and North Hills Square Shopping Center in Coral Springs, Fla.

IREIT acquired the 148,529-sq.-ft. Mansfield Pointe for $28.4 million and the 63,829-sq.-ft. North Hills Square Shopping Center for $11.05 million.

Mansfield Point was 96.7% occupied at closing. The tenant roster includes Sports Authority, PetSmart, Bed Bath & Beyond, Party City and Half Price Books. The property is shadow-anchored by SuperTarget, which includes a grocery component, and The Home Depot, neither of which were acquired.

A Wal-Mart Neighborhood Market anchors North Hills, which was 98% occupied at closing. The property consists of two single-tenant buildings and one multi-tenant building. Additional tenants include Wendy’s and Manhattan Bagel.

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REAL ESTATE

Realty Resources announces new members

BY Michael Fickes

Virginia Beach, Va. — Realty Resources has announced that several firms have joined the nationwide alliance of commercial real estate brokerage firms.

The new firms are: Arcore Group, Oak Brook, Ill.; Beau Box Real Estate, Baton Rouge, La.; The Clover Company, Culver City, Calif.; Cobblestone Retail, Atlanta; David Hicks & Lambert, Greenwood Village, Colo.; Falcon Realty Advisors, Dallas; ARK Commercial, Little Rock, Ark.; NewQuest Properties, Houston, Texas; Sansone Group, Saint Louis; Western Retail Advisors, Phoenix; The Retail Advisors, Guaynbo, Puerto Rico; Greenleaf Properties, Lincoln, Neb.; and Julius Feinblum Real Estate, Plainview, N.Y.

Realty Resources’ structure enables network firms to work together to provide a full array of retail real estate services at local and national levels. Realty Resources firms list Kohl’s, Whole Foods Market, Williams Sonoma, The Home Depot, Cabela’s, Bonefish Grill, Wal-Mart, Target, Lowe’s, PetSmart, Dick’s Sporting Goods, Sleepy’s and a host of other prominent national retailers as clients.

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REAL ESTATE

Pizza and frozen yogurt shops to Legends Outlets in Kansas City

BY Michael Fickes

New York — SweetFrog and Pizza Studio will open shops at Legends Outlets Kansas City in Kansas City, Kan., this spring and summer respectively. The locations will be the first in the Kansas City metropolitan area for both concepts.

SweetFrog has leased a 1,588-sq.-ft. space. The frozen yogurt franchise invites customers to make their own soft-serve creations, choosing from an array of flavors and toppings.

The 2,542-sq.-ft. Pizza Studio will be the first of six planned for the Kansas City metro area. The fast casual restaurant that invites customers to create their own pizza is expanding across the Midwest after signing a multi-unit franchise agreement with PS Midwest Development LLC for approximately 20 locations.

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