REAL ESTATE

Phase I underway at The Shoppes at Parma

BY Michael Fickes

Parma, OhioPhillips Edison & Company has broken ground on The Shoppes at Parma — formerly Parmatown Mall. Phase I will focus on infrastructure. Work will include new lighting, new sidewalks and the restoration of the parking lots. In addition, the contractor will prepare out-parcels for development. Phase I will wrap up this fall.

The project will go beyond a basic facelift. “Besides bringing in additional shops, restaurants and services, we will create a more attractive, pedestrian-friendly, family-oriented environment that will act as a town center for Parma residents and surrounding communities,” said Roy Williams, senior VP of Phillips Edison’s Strategic Investment Funds.

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REAL ESTATE

CitiTrends renews at Richmond’s Brookhill Azalea

BY Michael Fickes

Richmond, Va. — Divaris Real Estate has renewed its lease with CitiTrends for 12,000 sq. ft. at the Brookhill Azalea Shopping Center in Richmond, Va.

DRE represented BSV Premier Brookhill LLC, the landlord. Specializing in low-priced urban brands for the whole family, CitiTrends operates six stores in Richmond.

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REAL ESTATE

Zoom Tan to shine at Liberty Center II in Erie, Pa.

BY Michael Fickes

Erie, Pa. — Zoom Tan has leased a 1,559-sq.-ft. space for a tanning parlor at Liberty Center II in Erie, Pa., according to Levin Management. Flaum Management Co. Inc. represented the tenant in the transaction.

The 7,443-sq.-ft. Liberty Center II is directly across the street from the 227,000-sq.-ft. Liberty Center, which is anchored by Top’s Markets and Peebles department store.

Close to two interstates, both centers draw from the 156,188 residents within a five-mile ring of the center. The median household income within the ring is $42,032.

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