KANSAS CITY AND COLUMBUS — DDR (NYSE: DDR) and Glimcher Realty Trust (NYSE: GRT) have completed an agreement to swap two assets. Glimcher purchased the 650,000-square-foot Town Center Plaza in Kansas from DDR for $139 million. Macy's and Dick's Sporting Goods anchor the center. DDR has purchased the 700,000-square-foot Polaris Towne Center in Columbus from Glimcher for $80 million. Target, Lowe's Home Improvement, Kroger, Best Buy and T.J. Maxx anchor the center.
FLOWER MOUND — CIG Retail Properties has acquired 31,939 square feet of retail space from Town View Plaza Ltd., located at 1900 Long Prairie Rd. in Flower Mound. Jennifer Pierson and Beth Pierson of CBRE's Dallas office represented the seller in the transaction.
BIG SPRING — Houston-based Central Management has been retained as property manager for the 27,074-square-foot Big Spring Marketplace, a shopping center located at 111 E. Marcy Dr. in Big Spring. Jan Echard of Central Management's Dallas office will serve as the property manager.
FORESTVILLE, MD. — Morgan Property Group has sold a 19,620-square-foot retail property, located at the intersection of Marlboro Pike and Donnell Drive in Forestville, to Scottsdale-Miller Associates LP II and HHL & HL-Indiana for $10.8 million. The property is leased to Walgreens and Sherwin Williams. Dean Zang of Marcus & Millichap's Philadelphia office represented both parties in the transaction.
HIGHLAND PARK, ILL. — Four tenants have signed new leases at Port Clinton Square, a retail center in Highland Park. Flywheel Sports, a cycle fitness center, will occupy 5,100 square feet; Edward Jones, a financial planning company, will occupy 1,244 square feet; Highland Park Chiropractic has leased 1,789 square feet; and Mathnasium, a math tutoring center, has signed a lease for 1,510 square feet. Steve Schwartz of Baum Realty Group's Chicago office represented the landlord, a private partnership, in the transaction.
FRISCO — Del Taco has purchased a 36,000-square-foot retail pad site in Hickory Center at Preston, a shopping center located on the southwest corner of Preston Road and Gary Burns Drive in Frisco, for a new Del Taco restaurant. Ken Reimer and Amy Pjetrovic-Hunnicut of Venture Commercial Real Estate's Dallas office and Joe Gampper of Dallas-based Integral Real Estate Services represented the seller, Allegiance Frisco, in the transaction. Steve Ewing of EDGE Realty Partners represented the buyer.
LAS VEGAS – The 63,759-square-foot Rainbow Sunset Pavilion Retail Center has sold to Brentwood West for $8 million. The property is located at 6315–6485 South Rainbow Blvd. CBRE’s Charles Moore, Michael Newman and Marlene Fujita represented the receiver in this transaction.
BROOMFIELD, AURORA, COLO. – The Gateway Square and Salida Shops 2 strip centers have been sold by Robert Edwards and Tom Ethington of Pinnacle Real Estate Advisors. Salida Shops 2 in Aurora is fully leased, while Gateway Square in Broomfield was 88 percent leased at the times of sale. Gateway Square sold for 100 percent of its list price, or $277 per square foot. Salida sold for $2,657,214, or $400 per square foot. Edwards and Ethington represented the sellers on these transactions.
ST. LOUIS — Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust (NYSE:RPT) has acquired Town & Country Crossing shopping center in St. Louis for $37.8 million. The 282,000-square-foot shopping center, of which 145,000 square feet is now owned by Ramco-Gershenson, is 81 percent leased and tenants include Target, Whole Foods, Sprint and PNC Bank. The Target store will remain the property of Target. Paul Hilton, Mike Hanrahan and Chase Young of Cassidy Turley represented the seller, TNC Investors, in the transaction. Ramco-Gershenson represented itself in the deal.
MILWAUKEE, WIS. —Waukesha, Wis.-based The Redmond Co. has completed construction of a new facade for a Save-A-Lot store, located at 4821 N. 76th St. in Milwaukee. According to the Redmond Co., the 80 linear foot project was designed to maximize the store's signage and create a more prominent entry way. The project included a new storefront, masonry and lighting.