Inland acquires Bayonne Crossing Shopping Center for $75.2 million
Bayonne, N.J. — Inland Real Estate Acquisitions announced it has acquired Bayonne Crossing, a 356,647-sq.-ft. shopping center in Bayonne, N.J., for approximately $75.2 million.
Located just off the Hudson River and across from Manhattan, the acquisition includes a 91,109-sq.-ft. Wal-Mart Urban Store and a 146,583-sq.-ft. Lowe’s Home Improvement, both anchor tenants on ground leases purchased by Inland Real Estate Acquisitions.
“I am very pleased to have closed on the purchase of what I believe to be one of the finest retail assets I have ever acquired,” Joe Cosenza, president, said.
The newly built center was completed in 2012 and is located on the land once owned by John D. Rockefeller. Other tenants include Michaels and Dollar Zone. Additionally, Longhorn Steakhouse and T.G.I. Friday’s are operating on ground leases, also purchased in this transaction.
J. Crew, The Art of SpYn to open at Penn Quarter
Washington, D.C. — Douglas Development said that J. Crew and yoga and spinning studio The Art of SpYn will open at its Penn Quarter property, in Washington, D.C.
J. Crew is slated to open in August and The Art of SpYn is scheduled to open this spring.
J. Crew will occupy 3,044 sq. ft. on the ground floor and 5,581 sq. ft. on the lower level for a total of 8,625 sq. ft. in the Atlantic Building, which borders the historic Ford’s Theatre. The Art of SpYn, the city’s first combined indoor cycling and yoga studio, will also occupy two levels of space for a total of 5,272 sq. ft. and will feature two studios and a lifestyle retail boutique. These new tenants will join Anthropologie in the building.
Elijah Peters Optique to open Manhattan flagship
New York City — Prudential Douglas Elliman’s Retail Group said it has orchestrated a long-term lease for Elijah Peters Optique at 1039 Third Avenue, between 61st and 62nd Streets.
The luxury boutique represents the Elijah Peters Optique’s first U.S. flagship.