Insights

Venetian Nail Spa has opened at Kendall, Fla., center

BY Michael Fickes

Kendall, Fla. — Venetian Nail Spa has opened its 34th nationwide location at Kendall Village Center in Kendall, Florida. The 2,950-sq. ft. location between Lane Bryant and Famous Footwear brings the center’s occupancy rate to 99%.

Berkowitz Development Group represented the landlord, Kendall Village Associates, and completed the lease for the new tenant.

Kendall Village Center is an open-air, mixed-use destination with 276,000 sq. ft. of national and boutique local retailers and 159,000 sq. ft. of office space.

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Cohen to market the Shoppes of Silverwood in Ricon, Ga.

BY Michael Fickes

New York — Cohen Real Estate, a Manhattan-based full-service brokerage firm specializing in retail properties throughout the United States, has been retained to market Shoppes of Silverwood, a full-service strip shopping center located in Ricon, Georgia.

The 65,571-sq. ft. shopping center is 100% occupied. A Kroger supermarket anchors the center. Kroger has seen a significant and steady increase in sales over the last few years, adding value to the property. Other tenants include Cato’s, Hong Kong Buffet, Pizza Hut, Jackson Hewitt Tax Service, and First Chatham Bank. Although the property is completely occupied, the new owner can add a 3,150-sq. ft. end-cap store.

Providing excellent visibility and easy access, Shoppes of Silverwood is located 30 minutes north of Savannah, Georgia. Situated on 5652-5667 U.S. Highway 21 South with a signalized intersection, the location achieves traffic counts of approximately 17,780 cars per day.

In order to take advantage of the current financial markets, Cohen has said that the property is being offered free and clear.

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Stockholders approve Inland-Kite merger

BY Michael Fickes

Oak Brook, Ill. — Inland Diversified Real Estate Trust stockholders have voted overwhelmingly to approve the previously announced merger with Kite Realty Group Trust. Assuming all conditions to closing the merger have been satisfied, it is expected to close on or after July 1, 2014.

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