The Reel

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A blog for breaking sales and neighborhood real estate news.

The retail sector saw 155 properties sold, down 4% from 2013,
with 31 properties sold in the fourth quarter, down from 41 sold
in 4Q13. Total dollar volume for the year reached $388M, a drop
of 48% from 2013’s total, with $56M sold in 4Q14, a decrease
of 2% from 4Q13. As mentioned above, this year’s drop in dollar
volume resulted from 2013’s total being boosted by the $500M
sale of Green Acres Mall; excluding this sale, this year’s total of
$388M  represents  a  59%  increase  in  dollar  volume.  Price  per
square foot averaged $331, up 12% from 2013’s average, with the
fourth quarter averaging $306, up 5% from 4Q13’s average. Cap
rates fell 49 bps on the year, to 6.7%.