Village Pointe Shopping Center is under new ownership. Federal Realty Investment Group has purchased the 453,000 sq. ft. retail center for $153.3 million from RED Development, according to a news release. This sale includes the main shopping strip, including the theater, and big box retail buildings to the east. Village Pointe is 96 percent leased. Scheels owns their own building. Maryland-based Federal Realty is a leader in property management and redevelopment of retail-based real estate assets. – Isaiah Ang
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