MONROE, NC—New York City-based real estate development andinvestment firm Time Equities Inc. has acquiredthe Monroe Crossing Shopping Center here from MadisonMarquette of Washington, DC.

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No purchase price was revealed in the transaction for the389,630-square-foot at 2107-2133 West Roosevelt Blvd. The MonroeCrossing Shopping Center boasts such tenants as the top performingBelk's “flagship” store, which is one of the top 10 storesnationally, as well as JC Penney, Sears, Hibbett Sports, ShoeCarnival, Buffalo Wild Wings, and Planet Fitness.

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“Time Equities Inc. strives to acquire well-positioned retailcenters in highly-trafficked areas with long-term upside. We wereattracted to the strong leasing momentum and tenant productivity atthe property,” says Ami Ziff, national director ofretail with Time Equities. “The successful completion of thisacquisition marks our firm's third enclosed mall and we continue toexplore opportunities to maintain this momentum.”

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Cushman & Wakefield, its Carolina's-basedaffiliate Cushman & Wakefield | Thalhimer, and its CapitalMarkets Group represented the seller. Time Equities was representedin-house by Ziff and Jonathan Kim.

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Time Equities' portfolio consists of approximately 20 millionsquare feet of residential, industrial, office and retailproperties in 25 states, four Canadian provinces and Germany.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.