Friday , 30 September 2016
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RNR Retail Center Report

(Compiled by RealtyNewsReport.com) —

SAN ANTONIO -Tryperion Partners has acquired Gateway Plaza, a 138,510-square-foot community shopping center at the interchange of Interstate 35 and state Loop 1604 in San Antonio. The acquisition, which is Tryperion’s second of a San Antonio REO property in less than a year, includes additional land for future development. Tryperion, a private real estate investment firm, has engaged San Antonio-based Endura Advisors to market the existing shopping center vacancies and future development sites. Tryperion Partners is a Los Angeles-based firm focused on value-add office, retail, hospitality, and multifamily investments in secondary Western and Midwestern U.S. markets.

EDMOND, Okla. – Inland American Real Estate Trust, has announced the acquisition of the 275,466-square-foot Bryant Square Shopping Center in Edmond, Okla., a northern suburb of Oklahoma City. The property was purchased for $33.7 million. “This power center, with a grocery component, is a terrific addition to our retail portfolio due to its solid national tenant line-up, strong demographics and an ideal location trafficked by more than 40,000 vehicles per day,” said Christopher Covey, senior vice president of transactions for Inland American. OAK BROOK, Ill.-based Inland American Real Estate Trust, has a large portfolio of commercial real estate assets with a focus on three asset classes – lodging, multi-tenant retail and student housing.

LOS ANGELES-The International Council of Shopping Centers (ICSC), in collaboration with the USC Lusk Center for Real Estate, is bringing the ICSC University of Shopping Centers to the West Coast for the first time. Previously only available on the East Coast through the University of Pennsylvania’s Wharton School, the executive level education event will be held on the USC campus Oct. 14 – 16. Industry leaders and educators, including members of the USC faculty, will conduct intensive training on cutting edge issues. Experts and industry professionals with an average of more than 20 years of experience in their respective fields will be covering various aspects of the real estate industry – including urban development, leasing, demographics in the housing market and investing. For more information or to enroll, visit the ICSC University of Shopping Centers West event page at http://www.icsc.org/2014UVW/.

HONG KONG – Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, has increased its ownership interest in South Korea’s Hanam Union Square shopping center project. In the new ownership structure, Taubman Asia has acquired an additional 19 percent stake from Shinsegae Group. Taubman Asia’s effective ownership is now 34.3 percent. Rene Tremblay, Taubman Asia president, said, “Through our great partnership with Shinsegae Group, we’re building a landmark project that is on track to transform Hanam City into a premier shopping and entertainment destination.” Hanam Union Square shopping center will be in Hanam City, Gyeonggi Province, South Korea. Taubman Asia and Shinsegae Group, a South Korean retail group, are co-developing the site. Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia.

ORLANDO – JLL’s Capital Markets has closed the sale of Lake Washington Crossing on behalf of WSRI-SRP Lake Washington, LLC. Baltimore-based Philips Edison Group, LLC, purchased the 118,698-square-foot grocery-anchored shopping center, which is near Florida’s coast, in the town of Melbourne. The selling price was not disclosed. Kris Cooper, a JLL managing director, said, “Grocery-anchored shopping centers such as Lake Washington Crossing continue to be in very strong demand from retail investors from around the country.”

AUSTIN, Texas – Two more restaurants, each with outdoor dining areas, will complete the development of the Mueller regional retail center at Interstate 35 and 51st Street in Austin. The la Madeleine Country French Café and custom pizza establishment Pieology are scheduled to open in early 2015. Minnesota Vikings tackle Matt Kalil is bringing his second of six Pieology Pizzerias to the Austin area. At Pieology Pizzeria, guests, known as Pieologists, create and enjoy their own custom pizzas. La Madeleine Country French Café was founded by self-described “French country boy” Patrick Esquerré to fulfill his dream of bringing classic French country fare to America.

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