Chicago-based Orix Real Estate Equities Inc. built the center, located at 310 Goddard Blvd., last year. According to published reports, bidding on the center was fierce. Overlook is less than a mile from the larger King of Prussia Plaza. It is fully leased to five tenants, and there is room for expansion.
The current Overlook tenants are a 15-screen United Artists theater; a Best Buy consumer electronics store; Nordstrom Rack, which is the off-price division of the famed Seattle-based retailer; Champps, an upscale restaurant chain based in Littleton, CO; and a Bahama Breeze restaurant, which has not yet opened. Typically, a Bahama Breeze unit also includes a retail component that sells "Island" merchandise.
Joe Cosenza, chairman of Inland Real Estate Acquisitions Inc., negotiated the transaction on behalf of the REIT, and attorney Gary Pechter represented Inland Retail at the closing.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
