REAL ESTATE

Inland Diversified acquires City Center at White Plains through JV

BY Katherine Boccaccio

White Plains, N.Y. — Oak Brook, Ill.-based Inland Diversified Real Estate Trust announced the acquisition of a majority interest in City Center at White Plains, a four-story, 381,905-sq.-ft. mixed-use shopping center and apartment property in White Plains, N.Y.

The property was acquired in a joint venture between a subsidiary of Inland Diversified and affiliates of real estate developer Cappelli Group. The joint venture valued the property at approximately $166.4 million.

The retail portion of the property is anchored by ShopRite Supermarkets, Nordstrom Rack, New York Sports Club and Barnes & Noble. Other tenants include a 15-screen National Amusements movie theater, Buffalo Wild Wings, Applebee’s, Atlanta Bread Company, Temptation Asian Fusion, Cold Stone Creamery and Greenpoint Bank. Toys “R” Us is scheduled to open in March. The property is shadow-anchored by a 154,241-sq.-ft. Target P-Fresh store, located in the basement of the four-story building, which was not acquired.

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REAL ESTATE

Sun & Ski to open in Woburn, Mass., in former West Marine space

BY Staff Writer

Burlington, Mass. — KeyPoint Partners said Tuesday it has negotiated a lease with Sun & Ski Sports to occupy a 14,393-sq.-ft. space at 406 Washington Street in Woburn, Mass.

The store will be situated on the upper level of the building which houses Hogan Tire & Auto Service Center.

According to Sun & Ski parent Retail Concepts, a November 2012 opening is planned for this newest store, which is the chain’s thirtieth.

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Verizon to open in Dress Barn Plaza

BY Staff Writer

Norwalk, Conn. — Charter Realty & Development said that it has arranged a 2,350-sq.-ft. lease for Verizon located in the Dress Barn Plaza in Norwalk, Conn.

Dress Barn Plaza also contains Dress Barn and Dress Woman. Verizon will be relocating and expanding from a nearby location.

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