REAL ESTATE

  • Phase one of center court redevelopment completed in July; More to come

    Honolulu — With 42 million visitors per year, the two million-sq.-ft. Ala Moana Center in Honolulu boasts sales per square foot of $1,300. At the beginning of the year, owner General Growth Properties began a massive $572 million redevelopment of Ala Moana — the world’s largest open-air shopping mall. The goal is to add 650,000 sq. ft. of new retail space.

  • eShave leases Upper East Side storefront

    New York — eShave, the Long Island City-based shaving products and services company, has leased its first Upper East Side storefront at 1025 Third Avenue between 60th and 61st Streets. The space is across the street from Bloomingdale’s.

    Winick Realty Group represented eShave in the transaction, while the landlord, Mall Properties, was represented in-house.
     

  • Ohio Valley Mall announces three new tenants

    Youngstown, Ohio — Ohio Valley Mall in St. Clairsville, Ohio, has leased space to three new retailers: Panda, Boscov’s and The Children’s Place.

    Panda will arrive in November with its Asian fusion menu, taking 1,500 sq. ft. Boscov’s department store will open its doors in October. So will The Children’s Place, which has leased 4,000 sq. ft.

    The recently renovated Ohio Valley Mall is owned and managed in association with Cafaro affiliated companies.

     

  • Divaris inks two leases in Westfield Eastridge Mall

    Charlotte, N.C. — Divaris Real Estate has arranged two leases totaling approximately 9,000 sq. ft. of retail space at the Westfield Eastridge Mall in Gastonia, N.C. Divaris represented the landlord, WEA Eastridge LP.

    Los Arcos, a family owned Mexican restaurant, leased a 6,183-sq.-ft. outparcel building. Creations, a gift card shop, renewed its lease for 2,669 sq. ft.

    Belk, J.C. Penney, Sears and Dillard’s anchor the mall, which is leased exclusively by Divaris.

     

  • Simon opens St. Louis Premium Outlets

    Chesterfield, Mo. — Simon Property Group has announced the opening of Phase I of St. Louis Premium Outlets in Chesterfield, Mo., a suburb of St. Louis.

    The 350,000-sq.-ft. Phase I features 90 outlets and is 100% leased. Designer and name branded outlet shops include Armani, Kate Spade New York, Michael Kors, Nike, Saks Fifth Avenue Off 5th and Under Armour.

    The center is a joint venture between Simon Property Group and Woodmont Outlets, an affiliate of The Woodmont Company, a retail shopping center developer and operator.

  • Walmart Canada opens first of nine Maritime supercenters

    Saint John, New Brunswick -- Walmart Canada grand-opened a 129,000-sq.-ft. superstore in Saint John, New Brunswick, on Friday, the first of nine “Maritime Supercenters” planned for the country by Jan. 31, 2014, said the retailer.

    The newly redeveloped store, which signals the launch of Walmart Canada’s Maritime sourcing program for produce, features a fresh grocery section that will serve as a prototype for all Maritime supercenters.

  • Net leased Jacksonville Walgreens goes to bankruptcy auction

    Jacksonville, Fla. — Madison Hawk will conduct a real estate auction on Sept. 18 for a free standing retail building just east of downtown Jacksonville, Fla. The building is part of a Chapter 11 bankruptcy proceeding.

    Located at 1220 University Avenue, the 1.72-acre property contains a 15,070-sq.-ft. Walgreens Pharmacy that generates about $302,000 in net income annually. The Walgreens Co. lease is Double Net (NN) with the initial term running through 2019.

  • Divaris signs PetSmart into Roanoke shopping center

    Roanoke, Va. — PetSmart has leased 17,168 sq. ft. at he Hunting Hills Shopping Center in Roanoke, Va. Divaris Real Estate and Metro Commercial represented PetSmart in the transaction.

    DRE is the exclusive tenant representative for PetSmart in Virginia and Metro Commercial is the national tenant representative for PetSmart.

  • Huntington Mall signs Lifeway Christian bookstore

  • Times Square Mall welcomes Hobby Lobby

    Mount Vernon, Ill. — Hobby Lobby has signed a lease for 52,729 sq. ft. at Times Square Mall in Mount Vernon, Ill., and plans to open in the first quarter of next year, according to Pine Tree Commercial Realty LLC.

    Pine Tree owns the 269,328-sq.-ft. center, anchored in partnership with The Sansone Group and Wanxiang America Real Estate Group.

     

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