Last year Spectrum acquired seven retail assets from Jacksonville, FL-based Regency through a different partnership with Angelo, Gordon. The retail industry, to say the least, has undergone a huge shift since then, Spector notes. Still, though, "this property is a good opportunity for us. It is fully leased with a good schedule of lease rollover." Also, he says, the tenant roster is strong, with a Giant grocery store anchor.
Located at 8139 Studley Rd., the 176,000-square-foot center includes such retailers as Barnes & Noble Booksellers, Panera Bread, Pier 1 Imports, Ruby Tuesdays and Total Wine. Other participants in the deal, which closed this week, included CBRE, Kelley, Drye & Warren and the Transwestern Structured Finance Group.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
