REAL ESTATE

Cityline Partners plans 40-acre Tysons Corner transformation

BY CSA STAFF

McLean, Va. — McLean, Va.-based Cityline Partners said Monday it has introduced a plan for the long-term transformation of about 40 acres of land in Tysons Corner, Va., into an integrated mix of office, residential, hotel, retail, and civic uses surrounding an improved Scotts Run Stream Valley Park.

Cityline Partners, a subsidiary of New York City-based DLJ Real Estate Capital Partners, said it has filed an application with Fairfax County, Va., to rezone the property, currently referred to as Scotts Run Station, to fulfill the vision of the county’s recently adopted Comprehensive Plan for the Tysons Corner Urban Center.

Cityline is proposing a mix of uses totaling approximately 8.5 million sq. ft.

“This signature gateway site, with extensive high-visibility road frontage and all located within walking distance of Metro, provides a unique opportunity to create a place for people to live, work, shop, play, and stay,” said Donna Shafer, executive VP, Cityline Partners. “The redevelopment will take many years to complete, and will respond to evolving market conditions.”

The proposed development includes 120,000 sq. ft. of ground-floor retail space, 11 office buildings, nine multi-family residential buildings and a hotel.

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REAL ESTATE

Hhgregg plans 20 new stores in Chicago

BY CSA STAFF

Indianapolis — Electronics and appliances retailer Hhgregg said Friday it is planning to open as many as 20 new stores in the Chicago market this fall.

According to a report by the Chicago Tribune, the openings would make the Chicago area the largest market for the chain, with 11% of its 174 stores.

Hhgregg is leasing former Circuit City, Linens ’n Things and Wickes Furniture sites, and plans to open a DC to support the Chicagoland expansion, it said.

Executive VP and COO Gregg Throgmartin told the Tribune that the retailer is "absolutely" eyeing some of the 200 storefronts marked for closure by the bankrupt Borders Group, which would support its ultimate goal of becoming a national 600-store chain.

Hhgregg has opened 46 stores over the last year and plans to open 35 to 45 more this year.

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Aldi to debut in New York City

BY CSA STAFF

Queens, N.Y. — Discount grocer Aldi said Thursday it will open its first-ever New York City store on Feb. 18. The new store is located in the borough of Queens.

Aldi, which offers a limited assortment of items, said it will bring its standard floorplan to Queens, which includes wider-than-typical 8-ft. aisles.

The Queens store is the first of three grocery stores the company plans to open in the area, including new locations in the Bronx and Bay Shore areas.

“We are looking for other opportunities in the city,” said Bruce Persohn, VP of Aldi’s South Windsor division in Connecticut, adding that Aldi is focusing on all five boroughs as well as Long Island, according to a report by Crain’s New York.

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