Friendwell Group of Cos. acquired the Marketplace at Rockaway in New Jersey from an undisclosed seller for $29 million. The 241,000-square-foot center is anchored by Wal-Mart, as well as Bed, Bath & Beyond and DSW Shoe Warehouse.
Borders' new 23,000-square-foot store in National City, Calif., includes kiosks offering downloads, CD compilations and other digital services. The company hopes to profit from the growth of electronic media and give a nudge to lagging print sales.
The Jaffe Cos. and its partners will debut The Arboretum, a 600,000-square-foot shopping center, in South Barrington, Ill., in September. The center will include the first L.L. Bean store in the Midwest and an upscale Australian luxury cinema.
Bade Cos. will debut a 30,000-square-foot retail center in the master-planned community of Estrella, in Goodyear, Ariz. The company is also planning a 29-acre commercial center, with both office and retail space, to develop at a later date.
A partnership between Diversified Partners and Desert Troon Cos. plans to break ground early next year on a $40 million mixed-use center in Mesa, Ariz. Red Mountain Commons will include 150,000 square feet of retail, 60,000 square feet of office and a hotel.