Elder-Beerman in Centerville, Ohio, to shutter
York, Pa. The Bon-Ton Stores announced that it will close its 191,000-Sq.-ft. Elder-Beerman store in Centerville Place in Centerville, Ohio. The location is scheduled to close by late January 2011.
Bud Bergren, president and CEO, commented, “The company continually reviews the performance of its assets; as a result of a review of the Centerville location and its proximity to our Dayton Mall store, we made the decision to close this location. We will continue to provide great service and an outstanding merchandise assortment to our Dayton-area shoppers at our remaining six Elder-Beerman stores.”
Hutensky Capital acquires Woodmore Towne Centre
Glenarden, Md. Hutensky Capital Partners said it has purchased a general partnership interest in Woodmore Towne Centre, a $200-million mixed-use development under construction in the Washington, D.C., suburb of Glenarden, Md.
The Woodmore project features approximately 750,000 sq. ft. of retail space that is 69% pre-leased including anchors Costco, Wegman’s, J.C. Penney and Best Buy.
Phase I will open this fall with a second phase opening in spring 2011. The project also includes fully entitled land for approximately 1 million sq. ft. of office space, over 1,000 residential units, as well as two hospitality outparcels.
Hartford, Conn.-based Hutensky Capital Partners will share general partnership duties with an affiliate of Petrie Ross Ventures who will lead the development and leasing effort. An affiliate of Prudential Insurance Co. continues as a major investor in the project.
Fairway Market to debut on Manhattan’s Upper East Side
New York City Robert K. Futterman & Associates said it has arranged a 45,263-sq.-ft., long-term lease with Fairway Market at 240 East 86th Street between Second and Third Avenues, at the base of The Ventura, a luxury rental apartment building.
The new Upper East Side Fairway Market will be the first on Manhattan’s Upper East Side and the eighth store in the New York metropolitan area.
The new Fairway Market is scheduled to open in fall 2011, and will include 13,650 sq. ft. on the ground floor, 16,000 sq. ft. on the basement level, 4,463 sq. ft. on the sub-basement level, and 11,150 sq. ft. in the mezzanine.
The space was previously occupied by Barnes & Noble and Circuit City.
“This densely populated neighborhood prompted an increased demand for a market and proved to be the ideal location for Fairway,” said Robert Futterman. “This will be the only market of its kind in the heart of the Upper East Side, and Fairway joins a growing roster of prominent retail brands that continue to improve the bustling retail corridor along East 86th Street.”