Hampshire Cos. has acquired Garden City Square, a retail condo complex in Garden City, N.J., for $66.25 million. The seller is Metropolitan Realty Associates and equity partner Angelo, Gordon & Co. The 176,000-square-foot retail component is fully leased.
DDR Corp. has acquired a retail center in the Dallas area for $40 million. The 400,000-square-foot Marketplace at Highland Village is 90% occupied by tenants that include Wal-Mart, T.J. Maxx, HomeGoods, Petco, LA Fitness and Office Depot.
Morgan Stanley's real-estate fund business is stepping up its investment in Russia's retail sector. It has made two hefty investments in Moscow and St. Petersburg. Russia's retail industry is still emerging and retail sales are expected to rise 5.3% this year compared with last.
The Pentagon Row shopping center in Northern Virginia is making major renovations to its complex. These include more retail space and an expanded ice skating rink. Federal Realty Investment Trust owns the property.
Dollar General, Family Dollar and Dollar Tree prospered during the downturn, and they're continuing to grow both their sales and store counts, even as bigger and more established chains like Wal-Mart experience a slower recovery. A combination of factors is fueling the growth, including the fact that dollar stores' smaller footprint made it easier to get established in urban areas.