REAL ESTATE

Hobby Lobby to open second location in Washington State

BY CSA STAFF

Kennewick, Wash. Los Angeles-based BH Properties said it has signed Hobby Lobby Stores to a lease agreement for 60,000 sq. ft. of retail space in Kennewick, Wash., an area that is known as the retail hub for the southeastern portion of the state.

BH Properties has secured a 10-year commitment from Hobby Lobby to occupy the former location of GI Joe’s, a regional sporting goods and automotive parts seller operating in the Western United States. Hobby Lobby anticipates opening in late October.

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REAL ESTATE

Former Circuit City renovated for new Ashley Furniture

BY CSA STAFF

Hawthorne, Calif. Colton, Calif.-based Hodgdon-Miank Construction said it has completed a major renovation of the former Circuit City in Hawthorne, Calif., for a new Ashley Furniture HomeStore, which celebrated its grand opening on Sept. 1.

The 33,952-sq.-ft. retail building features a 65-ft.-tall architectural element for interstate visibility. In addition to the exterior modification, the interior was gutted and redesigned to accommodate the new furniture store.

KTGY Group, Architecture and Planning, served as the project architect for the project.

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Jones Lang LaSalle secures $18.5M refinancing for S.C., center

BY CSA STAFF

Spartanburg, S.C. Chicago-based Jones Lang LaSalle announced it has secured $18.5 million in refinancing capital for Centro Properties Group’s Hillcrest Shopping Center in Spartanburg, S.C.

The Real Estate Investment Banking practice of JLL secured a five-year, fixed-rate loan for the 384,306-sq.-ft. grocery-anchored shopping center from lender Quadrant Real Estate Advisors.

Hillcrest Shopping Center is anchored by a Publix supermarket and is currently 76% leased.

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