2 posts tagged “target”
Fred Sands' Vintage Real Estate, a wholly-owned division of Vintage Capital Group, has acquired the 1.1 million square foot SouthBay Pavilion in Carson, California from Hopkins Real Estate Group for an estimated $50 million, according to a CoStar article. The property, with 35,000 square feet of space currently available, is anchored by Ikea, Target, Sears and JC Penney, and houses 54 specialty stores and restaurants including brands like Old Navy, Children's Place, Foot Action, Panera Bread, Panda Express, Sansai Grill, Five Guy Burgers, Wing Stop and Jamba Juice.
"We can't go wrong with this location just off of the 405 Freeway with more than 350,000 cars a day driving by," said Sands. "With 73 acres of land we have room to expand." The seller, HREG Genesis, completed a $30 million remodeling of the center in 2007. In addition to increasing the restaurants offered, Vintage wants to enhance the mall's appeal as a destination by adding a cinema. Sands' Vintage Real Estate has been quietly acquiring regional malls at what he considers to be bargain prices for the last few years.
For more news and information, visit Blumberg Capital Partners.
NAI Welsh are marketing office space for lease in the Macy's Building in Downtown Minneapolis, marking the first time in the building's 107-year history that space has ever been available for lease according to a Business Journal article. Located at 700 Nicollet Mall in the heart of downtown Minneapolis, the iconic building dates back to 1902 when Dayton's first opened and has since served as the headquarters and regional office of Dayton's, Marshall Fields, Target, and Macy's. The site was largely emptied last fall when Cincinnati-based Macy's cut about 1,000 jobs in Minnesota, leaving 350,000 square feet on floors six through 10 above the Macy's store now up for lease.
"This space is main-on-main as far as Minneapolis office space goes," said Jim Damiani, Senior Vice President, NAI Welsh. "You couldn't ask for a more prominent location in this market." Damiani said Macy's would prefer to lease the entire space to one or more large tenants, but it is willing to cut up the space to accommodate smaller ones.
For more news and information, visit Blumberg Capital Partners.
