REAL ESTATE

Bayer Properties expands 3P management services portfolio

BY CSA STAFF

Birmingham, Ala. Bayer Properties said Monday that it continues to expand the national footprint of its third-party management services, now providing leasing, property and marketing consulting for Langley Properties’ Pelican Place at Craft Farms (Gulf Shores, Ala.) and The Mall at Lexington Green (Lexington, Ky.).

Pelican Place at Craft Farms is a 372,000-sq.-ft. lifestyle center anchored by Target, Books-A-Million, Bed Bath & Beyond and Cobb Theatre. The Mall at Lexington Green is a 168,000-sq.-ft. lifestyle center anchored by Whole Foods Market and Joseph-Beth Bookstore.

Bayer said it has already completed a trade area and retail feasibility study in both markets to identify growth opportunities in each respective location. The planning process for Pelican Place at Craft Farms will include leasing, property and marketing strategies necessary to drive retailer sales growth and overall asset value. The Mall at Lexington Green will also include a redevelopment and merchandising plan designed to advance the continued success of the property.

“We’ve assembled a great team with the expertise to successfully create enjoyable and customer friendly environments throughout the country,” said Bayer Properties president and CEO Jeffrey Bayer. “We’re bringing our leasing, management and marketing skills to Pelican Place at Craft Farms and The Mall at Lexington Green to enhance the retailer and consumer experience while improving asset value for ownership.”

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REAL ESTATE

Borders to open in Dedham, Mass.

BY CSA STAFF

Ann Arbor, Mich. Borders Group said Friday it will open a two-level, 24,479-sq.-ft. store in Dedham, Mass., in the Legacy Place lifestyle complex owned and operated by WS Development and National Amusements.

The new store will open to the public on June 10 and will be the retailer’s 20th Borders store to open in Massachusetts.

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REAL ESTATE

JBG announces leasing at North Bethesda Market

BY CSA STAFF

Chevy Chase, Md. The JBG Cos. and JBG Rosenfeld announced that they are bringing three new retailers to North Bethesda Market and Montgomery County.

Furniture retailer Arhaus; Seasons 52, a grill and wine bar; and Dolce Amore Cafe will join Whole Foods Market and LA Fitness at the 600,000-sq.-ft., mixed-use complex in North Bethesda, Md., across from White Flint Mall.

North Bethesda Market includes 200,000 sq. ft. of retail space and 400 apartment homes, half of which are located in a 24-story glass tower that is now Montgomery County’s tallest residential building. Residential leasing will kick off early this summer.

“North Bethesda Market is positioned to be the gateway into the new White Flint corridor and we are thrilled to introduce new and exciting retailers to this market,” said Kai Reynolds, executive development officer for The JBG Cos.

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