Eastchase Station ramps up development
Montgomery, Ala. — With the completion of Selas Drive, Eastchase will welcome the beginning of construction for Eastchase Station, a multi-tenant shopping center, and Kobe Japanese Steakhouse and Sushi Bar.
Located at the southwest corner of Eastchase Parkway and Eastchase Lane, Kobe Japanese Steakhouse and Sushi Bar will provide over 7,300 sq. ft. of dining space on the 1.4-acre site. Construction is scheduled to begin in late 2014 and be completed in the spring of 2015.
Eastchase Station, featuring two new buildings, will be home to several new tenants, new to the Montgomery region. Construction of the over 16,000 sq. ft. of new shop space on the 1.7-acre parcel will begin in the summer of 2014 with a completion date in late fall 2014.
ALFA Realty and Jim Wilson & Associates are the developers of Eastchase. Eastchase Station is a development of Terra Equities and Allen Hawkins.
Uniqlo to open first green store, in Northern California’s Great Mall
New York – Uniqlo will open a store at Great Mall in Milpitas, California, on Sept. 12. The store will be the first Uniqlo location to feature a 100% eco-friendly design, with LED lighting, greener materials and high-efficiency elements throughout.
The new Uniqlo also include specialty shopping vignettes that will create a store-within-a-store feel in the women and children’s departments. In-store display materials will also include updated digital screens.
Uniqlo’s arrival coincides with the recently-announced interior space reconfiguration of the mall’s center that will provide space for Uniqlo along with Guess Factory Store, an expanded Tommy Hilfiger Company and other retailers.
Great Mall is the largest outlet and value retail shopping destination in Northern California.
Kimco Realty buys 10 shopping centers for $276 million
New Hyde Park, N.Y. – Kimco Realty Corp. has acquired a portfolio of 10 shopping centers from its joint venture with SEB Asset Management for $275.8 million, including $193.6 million of mortgage debt. Kimco, which previously held a 15% ownership interest in the properties, paid approximately $69.8 million for the remaining 85% equity interest held by SEB Asset Management, the group’s specialist real estate manager.
The 1.4 million-sq.-ft. portfolio is located in mature markets in the Mid-Atlantic region that have high barriers to entry and strong household income levels. The predominately grocery-anchored portfolio is 95.4% occupied and its anchors include Giant Food, Harris Teeter, Weis Markets, Safeway, and Food Lion, with Kroger and Sam’s Club as shadow anchors. The properties also feature national retailers including Ross Stores, Bed Bath & Beyond, Marshalls, Kohl’s, PetSmart, and Michaels, with Target and Lowes as shadow anchors.