Pine Tree Commercial Realty forms JV with Silverpeak Real Estate Partners
Northbrook, Ill. — Pine Tree Commercial Realty and New York City-based Silverpeak Real Estate Partners announced they have formed a joint venture with the goal of acquiring retail assets and portfolios across the United States.
According to Chris Westfahl, principal of Silverpeak, and Peter Borzak, co-founder and principal of Pine Tree, the new JV – Pine Tree Silverpeak Retail Partners LLC – plans to pursue transactions greater than $10 million and across the risk spectrum, ranging from raw land for development to stabilized core assets.
"Specifically, we are seeking box- and grocery-anchored strip retail
centers," says Borzak, "as well as select mixed-use opportunities."
According to Westfahl, this will be the first retail platform that
the company has launched since the investment advisory business formed
last year as a successor to Lehman Brothers Real Estate Partners.
Great Clips to open at Town Square Center
Tampa — Jacksonville, Fla.-based Regency Centers said it has leased retail space in Tampa, Fla. at Town Square Center to Great Clips.
The salon has leased 838 sq. ft. and is slated to open for business in summer 2011.
The 44,380-sq.-ft. shopping center is anchored by Petco alongside national retailers such as Starbucks, Panera Bread, Verizon and Pier 1 Imports.
Kate Spade to open at Pacific Place
Seattle — Kate Spade New York announced it will open its first full-line, Washington State shop at Pacific Place in August.
The shop will open in 1,632 sq. ft. on level 1 next to BCBG.
Pacific Place features 50 shops, restaurants and an 11-screen movie theater at Sixth Avenue and Pine Street in downtown Seattle.