According to Edward C. Maher, Jr. of Cushman & Wakefield'sfinancial services group, both transactions involved closed-infunds for two separate clients. For the 226,021-sf center here, TAAssociates and the Estate of James Campbell sold to Lend Lease RealEstate Investments. In Warwick, TA Associates and Alecta, aSwedish-based fund sold the 144,264, sf center to an undisclosedbuyer. "They were selling a number of assets," Maher "This was part of their strategy.

In a released statement, Robert E. Griffin Jr., president of theNew England area for Cushman & Wakefield, says that a dozenoffers were made on each asset, which, notes Maher, testifies tothe strength of this market. "In today's market, getting three orfour offers is a victory," he points out. "Twelve offers is good.Food-anchored centers are very popular right now."

The center here is located on Route 132 and is 94% leased withits anchor tenants including Star Market, Toys "R" Us, HomeGoods,PETsMART and Old Country Buffet. The center in Warwick is locatedon Route 2 and is fully leased to tenants such as Super Stop &Shop, Fabric Place, Colonial Candle, Christmas Tree Shop, Babies R'Us and A.C. Moore.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.