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Mid Atlantic Real Estate Journal — Shopping Centers — Section C
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Center trades for first time since constructed Marcus & Millichap arranges sale of 26,115 s/f Staples shopping center for $6.16 million
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offers, leading to a buyer com- mitment in less than 30 days and a closing price equal to 99% of our asking price. The shop- ping center is competitively positioned within one of the densest retail trade markets in all of South Jersey, which contributed to the high demand for this asset. This was the first time since the shopping center
was constructed in the mid 1980’s that it traded hands. The property is located at the signalized corner of Dept- ford Center Rd. and Hurffville Rd. (Route 41), in Deptford, N.J. The shopping center is anchored by Staples Office Supply along with such tenants as Visionworks, Peddler’s Bike Shop, and Dunkin Donuts. n
EPTFORD , NJ — Marcus & Mil- lichap Real Estate
Investment Services has arranged the sale of Staples Shopping Center, a 26,115-s/f neighborhood-anchored shop- ping center in Deptford, NJ. The $6.16 million sales price equates to $235.88 per s/f. Marcus & Millichap’s Phila- delphia office represented the seller and the buyer in the transaction. The shopping center was well received by the market as we received multiple HI-LIGHTS Nov. 22 - Dec. 5, 2013
Staples shopping center
Company expands presence in Virginia Beach, VA Phillips Edison–ARC Shopping Center REIT Inc. acquires three grocery-anchored centers
Pioneer Plaza is a 96,027 s/f shopping center located in Springfield, OR, part of the Eugene, Oregon metro- politan statistical area, which includes the University of Oregon. Pioneer Plaza is an- chored by a Safeway grocery store. Safeway is the lead- ing grocer by market share in the greater Eugene area. The center also includes na- tional tenants such as Bank of America, Edwards Jones, Sprint, and Payless Shoes. “We are excited about these acquisitions because we be- lieve they support our objec- tives of creating a diversified and balanced portfolio, and partnering with our tenants to deliver a great shopping experience to their custom- ers,” said Jeff Edison, CEO of the Company.
CINCINNATI,OH — Phil- lips Edison–ARC Shop- ping Center REIT Inc. (the “Company”) announced the acquisition of three grocery- anchored shopping centers: Courthouse Marketplace, The Fresh Market Shopping Center, and Pioneer Plaza. These acquisitions expand the Company’s presence in Virginia, Illinois, and Or- egon, and add the first Fresh Market grocery-anchored property to its portfolio. Courthouse Marketplace is a 106,863 s/f grocery store- anchored shopping center located in Virginia Beach, VA. Harris Teeter anchors Courthouse Marketplace and is a leading grocer in the Mid-Atlantic region. Other national tenants include The UPS Store, Great Clips and Wendy’s. The shopping center serves as a hub for more than 7,000 city employees working in the Municipal Center and Courthouse Complex across the street. The Fresh Market Shop- ping Center in Normal, IL, home of Illinois State Univer- sity, is anchored by a Fresh Market grocery store. The Fresh Market is a leading grocer in the high growth fresh format category. This is the first Fresh Market grocery store anchored shop- ping center in the Company’s portfolio. Other national ten- ants at the 76,017 s/f center include Dick’s Sporting Goods and Marshalls.
NY ICSC Show Edition
Bennett Williams represents seller in $4.697m sale
Courthouse Marketplace
With the acquisitions of Courthouse Marketplace, The Fresh Marketing Shop- ping Center, and Pioneer Plaza, the Company’s cur- rent portfolio is comprised
of interests in 64 properties anchored by 25 leading gro- cers in 21 states, with an aggregate portfolio purchase price of approximately $925 million. n
6C MarketFair Mall hosts ribbon cutting ceremony in NJ
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