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Brokerage
Posted: April 21, 2011
CBL Properties sells two shopping centers to O'Connor/Real Vest Retail Holding Company
O'Connor/Real Vest Retail Holding Company LLC, a partnership formed by O'Connor Capital Partners and Wafra Investment Advisory Group, have teamed with The Wilder Companies to complete transactions that include the purchase of Milford Marketplace and the acquisition of the ownership interest in Phase I of Settlers Ridge in Pittsburgh, Pa.
The centers were developed and managed by CBL Properties.
Milford Marketplace is a 112,000 s/f open-air center anchored by Whole Foods Market. Milford Marketplace has a mix of destination tenants including LOFT, Banana Republic, Chico's, Coldwater Creek, and J. Jill. The center opened in 2007.
Phase I of Settlers Ridge is a 400,000 s/f regional shopping center in Robinson Township, part of the Pittsburgh, Pa trade area. Settlers Ridge features top retail tenants including a 150,000 s/f Giant Eagle Market District, REI, LA Fitness, Barnes & Noble, a 16-screen Cinemark theater, and P.F. Chang's. The center also features a Courtyard by Marriott. Settlers Ridge opened October 2009.
The Wilder Companies have assumed management and leasing of the two centers.
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