Devonshire REIT has acquired three shopping centers for a total of $69.75 million. Two of the properties are in Michigan and the third is in Tennessee, and two are fully occupied. Devonshire's total assets under management now total more than $370 million.
A Chicago-area retail center has traded for $31.6 million. Danada Square East, a 202,036-square-foot grocery-anchored shopping center, was purchased by Newport Capital Partners on behalf of Newport Capital Fund.
The Great Western Shopping Center in Columbus, Ohio, has traded to a privately held group in the city. Tenants in the property include Imagine School, Franklin County Opportunity Center, Talecris and Restaurant Depot.
Petrie Ross Ventures will seek approval to redevelop its City Place retail center in Silver Spring, Md. It will submit a plan within the next few months for the renovation, which will include a modern façade and new tenants.
Village at the Mall, a 92,764-square-foot shopping center in Florence, Ky., has traded for an undisclosed amount. The terms of the sale were not released. A private investor acquired the retail center, which is 100% occupied.