REAL ESTATE

Chipotle to open at RockPlaza Lofts in Newark

BY Katherine Boccaccio

New York — Winick Realty Group has leased 2,200 sq. ft. for Chipotle Mexican Grill at 222 Market Street, part of the RockPlaza Lofts residential and commercial development in Newark, New Jersey.

Chipotle is the first national quick-service restaurant to open in Downtown Newark in decades, according to Winick. The new unit is located near Seaton Hall University Law School and the Prudential Center, home of the NHL hockey team New Jersey Devils.

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REAL ESTATE

Phillips-Edison acquires Colorado shopping center

BY Dan Berthiaume

Cincinnati — Phillips Edison-ARC Grocery Center REIT II Inc. has acquired Kipling Marketplace, adding a property in Colorado to the company’s portfolio. Kipling Marketplace is a 90,124-sq.-ft. grocery store-anchored shopping center located in Littleton, Colorado, part of the Denver metropolitan statistical area.

Kipling Marketplace is anchored by a Safeway grocery store, the number two grocer in the Denver area. Other national and regional tenants at the center include Sylvan Learning, Dairy Queen, Cost Cutters, and H&R Block.

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REAL ESTATE

Report: New retail center planned for Kalamazoo

BY Dan Berthiaume

Kalamazoo, Mich. – A $2.2 million, 23,000-sq.-ft. retail center is reportedly planned for Kalamazoo, Michigan. According to the Kalamazoo Gazette, developer Habib Mandwee plans to open the center in a downtown area next to a location where Kalamazoo Valley Community College wants to build a health-focused campus.

Tenants for the retail center include Biggby Coffee and On the Rocks Market, with room for four other retailers. Developers hope to start construction in spring 2015 with a fall 2015 completion target.

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