REAL ESTATE

PREIT announces new leases at Moorestown Mall

BY Staff Writer

Philadelphia — Pennsylvania Real Estate Investment Trust announced the addition of new restaurants and retailers to its Moorestown Mall property, located in Moorestown, N.J.

New tenants include Marc Vetri’s Osteria, Firebirds Wood Fired Grill, Corner Bakery, The Walking Company, Cotton On and Body Central. As the remerchandising of the property continues to progress, more restaurant and store additions will be announced, according to PREIT.

Moorestown Mall is a 1 million-sq.-ft. enclosed regional shopping mall anchored by Macy’s, Lord & Taylor, Sears and Boscov’s.

Upon acquiring the first four liquor licenses awarded in what was previously a “dry” town in southern New Jersey just outside of Philadelphia, PREIT is executing its strategy of adding restaurants as a key element to improving the shopping experience and driving traffic to its retail partners. PREIT worked closely with Moorestown Township and its residents over the past several years to successfully pass a referendum to lift the nearly century-old ban on alcohol sales in the town.

Earlier this year, PREIT executed a lease with Marc Vetri’s affiliate, Vetri Family Restaurants, to open the second location of its restaurant concept Osteria at Moorestown Mall, marking Vetri’s inaugural foray into a suburban environment. The original Osteria restaurant is in Philadelphia, and was named one of the “101 Best Places to Eat in the World” by Newsweek. The Moorestown Mall location is expected to open in the summer of 2013.

Corner Bakery has also signed a lease to open in the summer of 2013 on an outparcel. This will be the first Corner Bakery in Southern New Jersey.

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M.Mirevski says:
Mar-10-2013 03:46 pm

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M.Mirevski says:
Mar-10-2013 03:46 pm

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REAL ESTATE

Pine Tree acquires Bloomington Grocer

BY Staff Writer

Northbrook, Ill. — Pine Tree Commercial Realty said its affiliate has acquired a Rainbow Foods grocery store in Bloomington, Minn.

The purchase expands the real estate development firm’s portfolio of shopping centers to include freestanding grocery stores.

The 64,130-sq.-ft. building is fully leased to Rainbow Foods, and features nearby retailers Target and Walgreens.

Rainbow Foods is a division of Roundy’s Supermarkets Inc.

Pine Tree acquired the property from a Chicago-based seller for an undisclosed amount, and will manage the center.

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P.Lopez says:
Apr-06-2013 10:26 pm

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The purchase expands the real estate development firm’s portfolio of shopping centers to include freestanding grocery stores. chat random

P.Lopez says:
Apr-06-2013 10:26 pm

The purchase expands the real estate development firm’s portfolio of shopping centers to include freestanding grocery stores. chat random

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REAL ESTATE

CBL announces expansion of Cross Creek Mall

BY Staff Writer

Fayetteville, N.C. — Chattanooga, Tenn.-based CBL & Associates Properties announced an expansion of Cross Creek Mall in Fayetteville, N.C. The 46,000-sq.-ft. expansion will deliver new retailers to the fully leased center, such as Chico’s, Loft, White House|Black Market, Men’s Wearhouse, Reed’s Jewelers and Lane Bryant. Additional stores and restaurants will be announced as the project progresses.

Construction on the expansion is scheduled to begin in early 2013, with a grand opening anticipated in late fall 2013.

Cross Creek Mall is a 1-million-sq.-ft. enclosed regional mall anchored by Belk, Macy’s, J.C. Penney and Sears. It recently received a multi-million dollar renovation featuring new entrances, new flooring and a renovated food court.

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A.Smile says:
Jan-21-2013 10:51 am

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A.Smile says:
Jan-21-2013 10:51 am

Thanks for taking this opportunity to discuss this, I feel fervently about this and I like learning about this subject. If possible, as you gain information, please update this blog with more information. I have found it really useful. technology

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