Kimco Realty is selling a four-property shopping-center portfolio in Mexico to its local operating partner, Planigrupo, for $92 million. The properties are an aggregate 1.1 million square feet. The sale is expected to close in the fourth quarter.
The planned redevelopment of Skyland Shopping Center in the District of Columbia has come at a price -- city officials spent at least $1 million in legal costs on its use of eminent domain to force out business owners that did not want to sell. The city is within weeks of having control over all the necessary parcels at Skyland.
Retail centers in the Jacksonville, Fla., area are learning to attract non-retail tenants to fill their space. There are 43 businesses in three area retail centers, but only four actually sell products such as sportswear or jewelry. The rest are service providers.