REAL ESTATE

Sleep Experts to open new Fort Worth store

BY Katherine Boccaccio

Dallas — Cypress Equities said Wednesday that Sleep Experts has signed a lease to occupy the remaining portion of the company’s development that currently houses Freebirds World Burrito at the northeast corner of West Seventh Street and Foch Street in Fort Worth, Texas.

The 3,035-sq.-ft. store is expected to open in May and marks the third in Fort Worth.

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REAL ESTATE

Jones Lang LaSalle closes sale of Red Lion Plaza

BY Katherine Boccaccio

Philadelphia — Jones Lang LaSalle announced Wednesday that it has closed the sale of Red Lion Plaza for Onyx Equities and Invesco Real Estate. A private buyer purchased the 229,204-sq.-ft. retail shopping center that is located in northeast Phildelphia, is 95% occupied, and anchored by Best Buy, Staples, American Signature and Planet Fitness.

The sale of Red Lion Plaza represents that largest retail transaction in Philadelphia since 2006, according to JLL, who is currently marketing over one million sq. ft. of shopping centers throughout Pennsylvania and New Jersey.

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REAL ESTATE

Donahue Schriber secures $100 million in additional growth capital

BY Katherine Boccaccio

Costa Mesa, Calif. — Donahue Schriber announced that its major investors New York State Teachers’ Retirement System and J.P. Morgan Strategic Property Fund have approved an additional $100 million common equity investment for growth capital.

The money will be utilized to help fund the company’s strategic growth plans over the next three to five years, according to chairman and CEO Patrick S. Donahue.

“We are thrilled with the level of commitment and support we receive from the New York State Teachers’ Retirement System and J.P. Morgan Strategic Property Fund. Our teams are in place, our balance sheet is stronger than ever, and we are well positioned to take advantage of new market opportunities,” said Donahue.

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