REAL ESTATE

Sawgrass Mills signs 30 new retailers this year

BY Michael Fickes

Sunrise, Fla. — So far this year, 30 new retailers have signed into Sawgrass Mills in Sunrise, Fla.

The Colonnade Outlets at Sawgrass Mills, the open-air promenade part of the property recently added a number of new-to-South Florida retailers, including Diane von Furstenberg, Gucci, Versace, Robert Graham, Ippolita, Wolford, Jimmy Choo, Frette, Roberto Cavalli and others.

Other recent additions throughout the property include first-in-market outlets from Ben Sherman, GEOX, New Balance, Old Navy, Steve Madden and the largest Under Armour Factory House in the country.

Some of the fashion names have expanded their footprints: Forever 21, Calvin Klein and Michael Kors.

New restaurants include the new prototype from California Pizza Kitchen, Sushigami and Zinburger Wine & Burger Bar, which is scheduled to open in The Colonnade Outlets during 2014.

New entertainment includes the new Barbie Dreamhouse Experience. As one of only two locations in the world, this attraction provides guests with an opportunity to interact with Barbie, her friends and family.

Sawgrass Mills is the largest outlet and value retail shopping destination in the United States, offering more than 350 name-brand outlet and off-price retail stores, two major food courts, seven full-service restaurants and entertainment.

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REAL ESTATE

CBRE closes grocery-anchored center sale in Austin

BY Michael Fickes

Austin, Texas CBRE’s National Retail Investment Group has announced the sale of The Market at Parmer Lane on behalf of LPC Retail, a division of Dallas-based Lincoln Property Company. The buyer is a Texas-based private real estate fund advised by Crow Holdings Capital Partners. Terms were undisclosed.

H-E-B Grocery anchors the 122,349-sq.-ft. center, which is 93.3% occupied.

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REAL ESTATE

Charter Realty and Regency acquire Fellsway Plaza

BY Michael Fickes

Medford, Mass. — A joint venture between Charter Realty & Development Corp. and Regency Centers Corporation has acquired Fellsway Plaza in Medford, Mass. The joint venture acquired the 150,000-sq.-ft. neighborhood center, anchored by a recently constructed Stop & Shop, from Berenson Associates of Boston. PNC Bank provided permanent and development financing. Commercial Property Group represented the joint venture in the transaction.

“Fellsway Plaza is an iconic infill location in the Boston metro area that cannot be replicated; exactly the kind of property we will continue to target,” said Paul Brandes, principal of Charter.

A modern theme will update the building’s aesthetics, while planned upgrades in existing tenancies will reinvigorate the property’s tenant mix. The common areas will be renovated with plantings and pedestrian scale elements to further enhance the shopping environment. Slated to begin in the spring of 2014, construction will include a new satellite building along the property’s frontage. Charter will be responsible for development, property management and leasing on behalf of the joint venture.

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