REAL ESTATE

REI to open two Columbus, Ohio, stores next year

BY Michael Fickes

Seattle — Next fall, REI will open a 23,000-sq.-ft. store at Sun Center in Columbus, Ohio. That store will join a previously announced 23,400-sq.-ft. REI slated to open in the spring at Easton Gateway. The retailer opened its first Ohio store in Cincinnati in 2012.

REI is the nation’s largest consumer cooperative with 5.1 million active members and 132 stores.

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REAL ESTATE

Stirling and JCH acquire land for New Orleans center

BY Michael Fickes

Covington, La. — Stirling Properties and JCH Development have closed on land acquisition and development financing for Magnolia Marketplace, a 106,000-sq.-ft. shopping center in New Orleans at the intersection of South Claiborne Avenue and Toledano Street. First NBC Bank of New Orleans provided financing for the project.

Stirling and JCH previously announced the 6,000-sq.-ft. initial phase of the problem. Capital One Bank is currently open in that building. T-Mobile and a proposed national sandwich shop are slated to open in early 2014.

When the project opens in the spring of 2015, the tenant list will include Ross Dress For Less, T.J.Maxx, Michaels, PetSmart, Shoe Carnival, Ulta Beauty and Raising Cane’s. The project is 100% pre-leased. The developers expect to break ground in January.

Stirling’s recent projects in New Orleans include Mid-City Market, a 108,000 square-foot Winn-Dixie anchored shopping center located at North Carrollton Avenue and Bienville Street, as well as the full renovation of the former American Legion building located on Magazine Street into a new 13,000-sq.-ft. Walgreens Marquee Store. Since 2011, Stirling has invested over $120 million in the City New Orleans.

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REAL ESTATE

Transwestern brokers two East Bay leases

BY Michael Fickes

Walnut Creek, Calif. — Transwestern has brokered leases on behalf of two retail tenants: 9Round Fitness & Kickboxing and Buon Vino Manufacturing.

9Round Fitness has taken a 1,300-sq.-ft. lease for five years in the Diablo Plaza in San Ramon, Calif. Buon Vino signed a 1,635-sq.-ft. lease for three years at 1545 Locust St. in downtown Walnut Creek, Calif.

Transwestern represented both tenants in the transactions and the landlord at 1545 Locust St. Cornish and Carey Commercial Newmark Knight Frank represented Diablo Plaza and its parent company, Regency Centers.

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