News:
Brokerage
Posted: November 28, 2014
Dividend Capital Diversified Property Fund acquires Salt Pond Shopping Center in Narragansett for $39.2 million
Dividend Capital Diversified Property Fund Inc. (DPF), acquired Salt Pond Shopping Center for $39.2 million. DPF funded the acquisition through
cash on hand and availability under its revolving credit facility.
Salt Pond Shopping Center is a grocery-anchored shopping center that comprises approximately 185,000 rentable s/f. The center is currently 96% leased to 18 tenants, including Stop & Shop and Marshalls.
"Due to the lack of competing retail, Salt Pond serves as a regional shopping destination for the surrounding population where customers from a broad radius are able to fulfill much of their shopping needs in a single location," said Greg Moran, executive vice president of Diversified Property Fund.
CBRE/New England's Chris Angelone, Bill Moylan, Nat Heald and Bruce Lusa represented the seller and procured the buyer.
MORE FROM Brokerage
Horvath & Tremblay sells three retail properties in New Hampshire for $6.285 million
Franklin, NH Horvath & Tremblay has completed the sale of three retail properties in New Hampshire for a total of $6.285 million. Jake Mabardy, Aaron Huntley and Brad Canova of Horvath & Tremblay have completed the sale of Franklin Shopping Center. Horvath & Tremblay exclusively represented the seller and sourced the buyer to complete the transaction at a sale price of $3.595 million.
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
