REAL ESTATE

Madison Marquette to lease retail space for Dilworth Plaza

BY Katherine Boccaccio

Philadelphia — Philadelphia’s Center City District, a private-sector sponsored business improvement district, announced on Friday that it has retained Madison Marquette Retail Services to lease the retail space for Dilworth Plaza.

As part of a major transformation of Dilworth Plaza, premium retail space for the operation of a café concept is available, encompassing 600 sq. ft. with indoor and outdoor seating that can accommodate 60.

“Dilworth Plaza will be one of the most important new civic spaces in the country, providing retailers the opportunity to operate in the Center Square of the city,” said Paul R. Levy, president and CEO, Center City District.

The Dilworth Plaza transformation, which began in January 2012 and is slated for completion in summer 2014, will create a barrier-free plaza with public amenities. Adjacent to the restored National Historic Landmark City Hall, the Plaza will link the Avenue of the Arts to the Benjamin Franklin Parkway and connect West Market office buildings to convention hotels and department stores on Market East.

CCD selected Madison Marquette Retail Services as an advisor in its efforts to secure a premier operator for the café space and additional retail moving forward.

In addition to the Dilworth Plaza consultation, MMRS will assist CCD in the enhancement of retail activities in two other downtown parks, Sister Cities Park and John F. Collins Park.

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REAL ESTATE

Kona Grill to open at West 7th

BY Katherine Boccaccio

Fort Worth, Texas — Cypress Equities, the developers of West 7th in Fort Worth, Texas, announced that Kona Grill will open a new restaurant location within the mixed-use development later this year.

The new 7,500-sq.-ft. restaurant marks Kona Grill’s fifth Texas location and second in the DFW metroplex.

West 7th’s mixed-use community is comprised of retail, entertainment, office and residential in 13 acres. The retail and office components are being developed by a Cypress Equities company and the residential component by Columbus Realty Partners.

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REAL ESTATE

Jones Lang LaSalle brokers sales of Bethesda Walk

BY Katherine Boccaccio

Atlanta — Jones Lang LaSalle’s Capital Markets announced that the firm has closed the sale of Bethesda Walk in the Lawrenceville suburb of Atlanta, on behalf of DLC Management Corp., Tarrytown, N.Y.

Solon Mack Real Estate purchased the 68,271-sq.-ft. shopping center, which is anchored by a 44,271-sq.-ft. Walmart Neighborhood Market that opened in mid-2012.

Terms of the deal were not disclosed.

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