Illinois-based real estate investment trust Retail Properties of America acquired the 262,000-square-foot Fordham Place in the Bronx from an affiliate of City Point developer Acadia Realty Trust for $133.9 million.
Fordham Place opened at 400 East Fordham Road in 2009 as the first mixed-use new development in the borough in more than 15 years. It is fully leased with tenants that include Best Buy, Sears and Walgreens.
CBRE Group brokers Jeff Dunne and David Gavin represented Acadia Strategic Opportunity Fund II in the deal, the New York Observer reported. Dunne secured the buyer.
Earlier this month, Retail Properties of America picked up Pelham Manor Shopping Plaza from Acadia for $58.5 million, the Observer said. [NYO] — Mark Maurer