REAL ESTATE

Phillips Edison-Arc acquires Salinas, Calif., center

BY Michael Fickes

Cincinnati — Phillips Edison-ARC Shopping Center REIT Inc. has acquired Boronda Plaza in Salinas, Calif. Food 4 Less, a subsidiary of Kroger, anchors the 93,071-sq.-ft. shopping center, which is 98% occupied.

When combined with the Food 4 Less lease, 68% of the rents for the center derive from national tenants. More information at Phillipsedison-arc.com.

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REAL ESTATE

Buffalo Wild Wings leases Manhattan flagship

BY Michael Fickes

New York — Buffalo Wild Wings has leased its first Midtown Manhattan location in Times Square, according to Winick Realty Group.

The 15,000-sq.-ft. flagship restaurant includes a 5,000-sq.-ft. ground floor with 22-ft. ceilings, a 2,000-sq.-ft. mezzanine, two lower levels and a 2,000-sq.-ft. roof deck for outdoor dining.

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REAL ESTATE

Sold: Mount Prospect Plaza in suburban Chicago

BY Michael Fickes

Oakbrook Terrace, Ill.Mid-America Real Estate Corp.’s investment sales group has brokered the sale of the 301,045-sq.-ft. Mount Prospect Plaza in Mount Prospect, Ill., a northwestern suburb of Chicago.

Ramco-Gershenson Properties Trust purchased the property for $36.1 million from a pension fund advised by JP Morgan Asset Management Inc.

Marshalls, Ross Dress for Less, L.A. Fitness, Aldi, Petco and Walgreens anchor the center, which is located in a dense infill area. Shadow anchors include a Wal-Mart Supercenter.

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