|
New Construction
|
|
|
New ConstructionCB Richard Ellis is leasing a 60,000 sq.ft. expansion at Broadway Shopping Center in Bangor, ME. Spaces of 25,000 sq.ft. and 8,000 sq.ft. are also available in the strip center located on Route 15 just off Interstate 95. The center is anchored by Hannaford Brothers Supermarket and TJ Maxx. The entrance is signalized and area demographics include a population count of 325,000 residing in a 50-mile radius earning $37,807 as an average annual household income. The company is also leasing the 498,100 sq.ft. Oswego Retail Center in Oswego, IL. The power center is anchored by Target, Dominick’s and Home Depot and ground breaking will take place in the spring. Demographics include a population count of 133,215 residing in a five-mile radius earning an average annual household income of $59,256. The company also brokered the following sales for Sears, Roebuck & Company’s The Great Indoors concept in Southern CA: A 12-acre parcel of the planned 103-acre Empire Center in Burbank, CA where a 143,000 sq.ft. store will be built and a 16-acre parcel at Payton Drive and State Highway 71 in Chino Hills, CA where a 143,000 sq.ft. store will be built. For more information contact, CB Richard Ellis, Northeast Partners, 600 Atlantic Avenue, Boston, MA 02210; 617-912-7000, Fax 617-912-7001. For information on the Oswego site contact Joseph Parrott, 100 Tri-State International Suite 140, Lincolnshire, IL 60069; 847-948-6957; Fax 847-948-8785. For the CA transactions contact Brent Howell, 310-516-2401.
ORIX Real Estate Equities is developing the 130,000 sq.ft. Manahawkin Commons in Stafford Township, NJ. The power center is located at the intersection of Washington Avenue and Doc Cramer Boulevard and has direct access to Route 72. Area demographics include a population count of 62,981 residing in a 10-mile radius earning an average annual household income of $48,270 and a daily traffic count of 46,256 cars on Route 72. The company is also developing the 850,000 sq.ft. Deer Creek in Harmar Township, PA. The power center is located at Routes 910 and 28 immediately west of Interstate 76, and includes nine outparcels. Major tenants include Target, Costco, Home Depot, Giant Eagle, OfficeMax, PetsMart, Michaels Arts & Crafts, Pep Boys, Dick’s Sporting Goods, Linens ‘n’ Things, Best Buy, Family Toy and Famous Footwear. For more information on Manahawkin Commons contact Matt Bloom, Retail Realty, 158 Linwood Plaza, Suite 329, Route 9W, Fort Lee, NJ 07024; 201-592-0900; Email: mbloom@retailrealtyus.com. For information on Deer Creek contact Woodmont Realty, 6500 West Freeway, Suite 900, Fort Worth, TX 76116; 817-732-4000, Fax 817-735-4738. AAC Real Estate Services Inc. is developing Brier Creek Commons in Raleigh, NC. The 770,000 sq.ft. center will be located between Glenwood Avenue and Lumley Road. BJ’s Wholesale Club will anchor the development which will open late 2001. For more information contact AAC Real Estate Services Inc., 5950 Fairview Road, Charlotte, NC 28210-3104; 704-556-0975.
Reitnour Investment Properties is constructing the 190,000 sq.ft. Lakeview Shopping Center in Royersford Borough, PA. The center will be anchored by a 86,000 sq.ft. Kohl’s and a 55,000 sq.ft. Giant Food Store and is located at Route 422 and Walnut Road. A Fall 2001 opening is planned. For more information contact Kevin Lahn, R.J. Waters & Associates, Inc., 610-444-6000; Fax 610-444-8351; Web site: www.rjwaters.com.
GBT Realty Corporation is developing the 294,176 sq.ft. Cox Creek Center in Florence, AL. The 36-acre site is adjacent to Regency Square Shopping Mall. The center will be anchored by a 125,000 sq.ft. Target and cotenanted by Linens ‘N Things, Best Buy, Dick’s Sporting Goods and Michael’s Arts & Crafts. Space is available in the center which is scheduled to open spring 2001. For more information contact Arlene Mount, GBT Realty Corporation, 201 Summit View Drive, Suite 110, Brentwood, TN 37027, 615-370-0670; Fax 615-373-3111.
Pennmark Management Company will build a 103,000 sq.ft. Kmart store at Montgomery Commons in Montgomery Township, PA. The store will be built on the west side of the center where Drug Emporium and US Toy Store units are currently located. For more information contact Pennmark Management Company, 801 West Germantown Pike, Norristown, PA 19403; 610-272-6500.
Brock Development Corporation is leasing the Northmil Plaza Shopping Center in Palm Beach Gardens, FL. The 90,393 sq.ft. community center will be anchored by a 53,683 sq.ft. Albertson’s Superstore and is located at the intersection of Northlake Boulevard and Military Trail. Three outparcels and a corner retail space are available. Area demographics include a population count of 122,249 residing in a five-mile radius earning an average annual household income of $52,591. The site is less than a half of a mile from Interstate 95. For more information contact Brock Development Corporation, 561-684-1040.
Konover Property Trust is building and managing Falls Pointe Shopping Center in Raleigh, NC. The center will be tenanted by Harris Teeter, Kohl’s, Dress Barn, Hallmark Creations, Outdoor Bird Company, Mail Box Etc., Great Clips, Number One Carpets and Best Dry Cleaners. The stores are scheduled to open in May. For more information contact Konover Property Trust, 11000 Regency Parkway, Suite 300, Cary, NC 27511; 919-462-8787; Fax 919-462-8799.
Bradford Real Estate Services is developing the 6.5-acre Archway East center in Crystal Lake, IL. The center has three buildings tenanted by Portillos, T.G.I. Friday’s, Starbucks, Gateway Computer Center and other local retailers. The site is located at Routes 14 and 31 on Cog Circle Drive. Other area retailers include Menard’s and Hooters. For more information contact Bradford Real Estate Services, 10 South Riverside Plaza, Chicago, IL 60606-3708; 312-474-9000; Fax 312-474-9070.
Developers Diversified Realty Corporation has begun construction on the 175,000 sq.ft. Shops at Kildeer in Kildeer, IL. The community center is directly across from Deer Park Town Center and will be anchored by a 35,000 sq.ft. Bed Bath & Beyond and a 32,772 sq.ft. Circuit City. Other tenants will include Cost Plus (17,300 sq.ft.), Ulta 3 (11,200 sq.ft.) and The Avenue (5,000 sq.ft.). For more information contact Eric Mallory or Michelle A. Mahue, Developers Diversified Realty Corporation, 216-755-5500; Fax 216-755-1500; E-mail: mmahue@ddrc.com.
Westland Industries is renovating Plaza de La Fiesta in Huntington Park, CA. The project will add 7,000 sq.ft. to the center located at Florence and Pacific Streets in the busiest Hispanic shopping district in Los Angeles County. The center is anchored by Banco Agricola, Bancomer and ChinaTown Express. Area demographics include a population count of 420,000 residing in a three-mile radius earning an average annual household income of $43,000. For more information contact David Kracoff, Westland Industries, 6665 Long Beach Boulevard, Long Beach, CA 90805; 310-639-7130; Fax 310-639-0785; E-mail: dkracoff@evc-inc.com.
Mid-America Real Estate Group is building The Highlands, a 30-acre mixed-use development in Lombard, IL. The first phase of the development is a 133,000 sq.ft. Sears-The Great Indoors. It will be the concept’s first Chicagoland store. The development is scheduled to be completed in Fall 2002 and is located at Butterfield Road and Highland Avenue. For more information contact Mid-America Real Estate Group, 630-954-7300; Web site: www.midamericagrp.com. |