Mid-America brokers sale of Shadeland Station in Indianapolis
Oakbrook Terrace, Ill. — Mid-America Real Estate Corp.’s investment sales team has brokered the sale of Shadeland Station. Time Equities purchased the 104,906-sq.-ft. grocery-anchored shopping center. Marsh Supermarkets and Dollar Tree anchor the center.
Mid-America Real Estate Corp. in cooperation with Mid-America Real Estate – Indiana LLC brokered the transaction exclusively on behalf of the seller, a joint venture between Tri-Land Developments and an affiliate of Equity Group Investments.
Mid-America Real Estate Corporation is a member of Mid-America Real Estate Group, a ChainLinks affiliate.
Horizon to develop outlet center in East Hartford, Conn.
East Harford, Conn. — Horizon Group Properties has announced an agreement to develop a new outlet center in East Hartford, Conn. The 350,000-sq.-ft. Outlet Shoppes at Rentschler Field is scheduled to open in the summer of 2016. Rentschler Field is a historic airstrip located near downtown Hartford.
The Hartford metropolitan area has 2.2 million residents and an average annual household income above the national average. No outlet shopping centers currently serve the market.
Estimates project that the center will generate more than $130 million in sales, $1.2 million in property taxes and $8.2 million in sales taxes per year.
RMC wins new leasing assignments in South Florida
Tampa, Fla. — RMC Property Group has earned two exclusive leasing assignments on Florida’s southern West Coast.
First is Fountain Court, a 180,420-sq.-ft. community shopping center in Bradenton’s Highway 64 retail corridor near the beaches and Anna Maria Island. Anchor tenants include Bealls Department Store and Planet Fitness.
Next comes Page Plaza, a 95,414-sq.-ft. community shopping center in the Fort Myers Highway 41 corridor — just across from Page Field. Dollar Tree, Advance Auto Parts and Hhgregg anchor the property, which is adjacent to a Sam’s Club.
Sitt Asset Management owns and manages both properties. Sitt is a family-owned real estate investment firm with a portfolio of office buildings, shopping centers, strip malls and residential developments.