DALLAS-UCR Investment Sales closed the sale of shopping centers in New Jersey and Oklahoma for a total price of $102.7 million. When the dust settled, Canada’s RioCan Real Estate Investment Trust claimed ownership rights to the 517,057-square-foot Deptford Landing in Deptford Township, NJ, while Inland Diversified nabbed the 259,996-square-foot Shops at Moore in Moore, OK.
David Disney with UCR Investment Sales handled the transactions on behalf of the sellers. An affiliate of Cypress Equities Real Estate Investment Management and Sarofim Realty Advisors sold Deptford Landing, at 1750 Deptford Center Rd. The 100%-leased center, across from Deptford Mall, has Walmart and Sam’s Club as anchors, with additional tenants including Michaels, hhgregg, PetSmart and DSW. A source familiar with the deal tells GlobeSt.com that all the tenants – including Walmart and Sam’s Club – are occupying space through leases or ground leases.
Shops at Moore, at 19th Street and Interstate 35, was sold by an affiliate of Burk Collins & Co. Completed in 2008, the property is shadow-anchored by JCPenney, with additional anchors including Ross Dress for Less, Best Buy, Bed Bath & Beyond, Office Depot and Hobby Lobby.