Project Profile: Yorktown Centre
Location: Downtown Erie, Pa.
Size: 196,728 sq. ft.
Developer: Existing property acquired in August 2013 by Phillips Edison-ARC Shopping Center REIT Inc.
Major tenants: Giant Eagle, Panera Bread, The UPS Store, GNC, Wells Fargo, Eat’n Park
Yorktown Centre is located in a densely populated trade area in downtown Erie, Pa., less than a mile from I-79. In addition to the primary trade area’s 71,000 residents, the 1-mile radius includes nearly 310,000 sq. ft. of office space, where more than 11,300 employees work every weekday. Anchor Giant Eagle, the region’s dominant grocer, is currently carrying out a comprehensive renovation of the Yorktown Centre store, which will further strengthen the attraction of this popular, 100% occupied center.
Project Profile: Marlton Crossing
Location: 101 S. Route 73, Marlton, N.J.
Size: 333,255 sq. ft.
Developer: Brixmor Property Group
Major tenants: T.J. Maxx, DSW, HomeGoods, Michaels, Burlington Coat Factory, Five Below
Located in an affluent trade area with a 5-mile average household income of more than $117,000, Marlton Crossing is anchored by a strong mix of national retailers, including Burlington Coat Factory, DSW, HomeGoods and T.J. Maxx. It recently expanded onto adjacent property with a 22,000-sq.-ft. Michaels, which opened in October 2013.
Project Profile: Thornwood Village Center
Location: Thornwood, N.Y., in Westchester County
Size: 20,175 sq. ft.
Developer: DLC Management Corp.
Major tenants: Walgreens
DLC completely redeveloped Thornwood Village Center located at the most prominent intersection in central Westchester County. The project involved the partial demolition and reconstruction of a 40-year-old structure, while keeping all tenants open and operating throughout the construction phase. A 12,422-sq.-ft. Walgreens anchors the center, which serves a population of 89,845 residents within a 5-mile radius. Average annual household income is $177,668.