Atco acquires Austin shopping center
New York City — Manhattan-based Atco Properties & Management said it has purchased Crossroads Center, a 99,000-sq.-ft. neighborhood shopping center in Austin, for $14.25 million.
The center is currently 70% leased to a mix of national tenants such as Bennihana, Chili’s, West Marine, Cycle Gear, as well as locals Trudy’s, Plucker’s and Big Daddy’s Burgers.
Atco plans to begin a modest capital improvement program that will include parking lot resurfacing, adding locally grown, drought-resistant plants to facility landscaping and signage upgrades.
Cole Real Estate executes 278,000 sq. ft. in retail leases
Phoenix — Cole Real Estate Investments announced Monday that it has signed leases totaling approximately 278,000 sq. ft. at Cole-related retail properties through the first half of 2011.
The leases consist of approximately 129,000 sq. ft. of new leases and approximately 149,000 sq. ft. in renewals, bringing the occupancy rate for Cole’s portfolio of more than 1,450 properties to 97.3%.
Notable new leases include Bally Total Fitness for 39,500 sq. ft. at a former Circuit City in Aurora, Colo.; Ross Dress for Less for 28,000 sq. ft. at Lincoln Place in Fairview Heights, Ill.; Bassett Furniture for 7,500 sq. ft. at Manchester Highlands in Manchester, Mo.; and Men’s Wearhouse for 6,000 sq. ft. at Winter Garden Village in Winter Garden, Fla.
Key renewal leases include Bed Bath & Beyond for 36,500 sq. ft. and Beauty Brands for 8,300 sq. ft. at Barrywoods Crossing in Kansas City, Mo., as well as Marshalls for 30,000 sq. ft. at Lincoln Place in Fairview Heights, Ill.
Whole Foods Market signs lease in Virginia Beach
New York City — Whole Foods Market plans to open a store in Virginia Beach, Va.
The retailer recently signed a lease with S.J. Collins Enterprises for the construction of a 40,000-sq.-ft. store in the Hilltop section of Virginia Beach. It is scheduled to open by yearend 2013.