A partnership between a real estate fund managed by New York City-based DRA Advisors, LLC and KPR Centers has completed the acquisition of a portfolio of 35 grocery-anchored shopping centers, comprising more than 4.9 million square feet of space, from Cedar Realty Trust for $879 million. The centers are situated in nine states throughout the Mid-Atlantic and Northeast regions of the country. The partnership disposed of 16 of those shopping centers, totaling more than 1.5 million square feet of space, to three separate entities simultaneously at closing. The remaining 19 shopping centers, comprising more than 3.4 million square feet of space and cumulatively 93% leased, will be owned and managed by the two real estate companies focused on value-add investments. Chris Angelone of JLL represented the seller in this transaction.
Finmarc Management, Inc., a commercial real estate investment and management firm headquartered in Bethesda, Maryland, together with KPR Centers, a real estate investment and operating firm based in New York City, have completed the acquisition of Providence Town Center, a 760,000 square foot retail center located northwest of Philadelphia in Collegeville, Pennsylvania. The purchase price was $161.75 million. Located at 100 Town Center, the asset was 92% leased at the time of the sale and features 11 anchor tenants led by Wegmans Food Markets, and approximately 70 tenants in total.
A joint venture between PCCP, LLC and KPR Centers has acquired Schaumburg Corners, a 100% leased 160,301-square-foot shopping center located at 16-66 E Golf Rd. in the northwestern Chicago suburb of Schaumburg, IL. The seller was Kensington Development Partners. Deal terms weren’t disclosed.
CARY, N.C. — Katz Properties Retail, a New York-based real estate firm, has acquired Amberly Place, a 77,675-square-foot shopping center located in Cary. Dennis Carson, Casey Rosen and Mike Burkard of CBRE represented the St. Petersburg, Fla.-based seller, The Sembler Co. The sales price was $28.4 million.
Active across New England for almost a decade, Gotham-based KPR Centers is moving beyond the grocery anchored shopping plazas focused on while assembling a seven-million-sf platform extending from Maine to Florida, yet Managing Partner Daniel Katz tells Real Reporter its just completed deal spending $47 million on 310,000 sf of refrigerated industrial space here in southern New Hampshire does connect to the firm’s real estate roots. The off-market agreement arranged Read More
New York, New York – KPR (Katz Properties Retail) and DRA Advisors jointly purchased Concordia Shopping Center, located in Monroe Township, NJ, for $32,300,000. Read More
New York, New York – KPR (Katz Properties Retail), an East coast retail investor and operating firm, continues to add to its portfolio with the recent acquisition of The Shops at Blue Bell, located in Blue Bell, Pennsylvania. Read More
Meet four rising stars who are making standout contributions to retail real estate
By Ben Johnson
The bar for being named an ICSC NextGen 4 Under 40 designee was higher than ever this year, because this annual award received the greatest number of nominations ever in its five-year history. “We are excited to continue the legacy of 4 Under 40 with very bright and talented men and women who are proven leaders from a variety of backgrounds, including leasing, asset management, brokerage and consulting,” said Jessica Goss, vice president of Americas real estate at J.P. Morgan & Co. and a member of the national ICSC NextGen Leadership Board, which oversees the subcommittee responsible for the 4 Under 40 program. Read More
New York, New York – Katz Properties Retail announced the addition of Michael J. Zieja as Leasing Director. Mr. Zieja will contribute to leasing KPR’s 5+ million square foot growing portfolio and will be reporting to Thomas Smith, KPR’s National Director of Leasing. Read More
QUAKERTOWN, PA. — Katz Properties has purchased Richland Marketplace, a shopping center located on 36.9 acres on Route 309 in Quakertown. …. View Article
New York-based Katz Properties has acquired Vestavia Hills City Center, a 392,000-square-foot shopping center in Vestavia Hills…. View Article
Katz Properties has acquired the Village at Westfork, a Kroger-anchored shopping center in Lithia Springs, for $11.6 million… View Article