Paster acquires Cahill Plaza
St. Paul, Minn. — A partnership between St. Paul, Minn.-based Paster Enterprises and Chicago-based Shiner Capital Partners announced the purchase of Cahill Plaza, located in Inver Grove Heights, Minn.
Cahill Plaza is a 69,000-sq.-ft. shopping center that is anchored by a 52,017-sq.-ft. Cub Foods and a 6,165-sq.-ft. MGM Liquor. Additional tenants include Great Clips, RR Cleaners, C & A Nails, Edward Jones and Papa Johns.
The acquisition of Cahill Plaza officially closed on April 21. There are no immediate plans for redevelopment, according to the owners.
America’s Kids debuts at Tower Shopping Center
Raleigh, N.C. — Tarrytown, N.Y.-based DLC Management Corp. announced a pair of lease signings that have transformed its Raleigh, N.C., asset Tower Shopping Center.
According to DLC, America’s Kids will open a 26,691-sq.-ft. store, marking the children’s clothing and accessory retailer’s first store in North Carolina. This is also the first America’s Kids store in DLC’s portfolio, and deals at two additional shopping centers are under negotiation.
Also, an existing 5,900-sq.-ft. discount beauty supply retailer was interested in expanding its store. DLC negotiated with the tenant, Beauty World Discount, to more than double the space it was originally planning to absorb and move into a 9,600-sq.-ft. location. With the signing of these two new leases, Tower Shopping Center is now approximately 94% leased. Talks are underway with several retailers regarding the few small vacancies that remain.
Fameco announces exec appointment
Woodbridge, N.J. — Fameco Real Estate announced that Scott Jennerich has joined the Fameco organization and will be based out of its Woodbridge, N.J., office.
Jennerich previously led Trinity Real Estate Advisors, a consulting company specializing nationally in retail real estate, land development and the shopping center industry. He will join Fameco as the president of Trinity Real Estate Advisors, now a wholly owned subsidiary of Fameco Real Estate.