REAL ESTATE

Richmond-area center to be sold at auction

BY CSA STAFF

The Shops at Stonehenge in Chesterfield County, Virginia, south of Richmond, will be sold in a foreclosure auction this week, according to a report in the Richmond Times-Dispatch.

The 3.8-acre center, which was last sold in 2007 for $6.95 million, is situated near a Sam’s Club and contains Q Barbecue restaurant, Cato Fashions, and Domino’s Pizza.

The Tysons Corner office of the Venable law firm will hold an auction on Friday, February 24, at the front entrance of the Chesterfield Circuit Court building at 9500 Courthouse Road.

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REAL ESTATE

Nordstrom Rack location set for Baltimore center

BY CSA STAFF

Nordstrom Rack announced it would open its first Baltimore store at The Shops at Canton Crossing in spring 2019. It will be part of the center’s 90,000-sq.-ft. Phase II addition, which is expected to begin construction in November.

The center is a half-mile off the Boston Street Exit of I-95 and currently houses tenants such as Harris Teeter, LOFT, Michaels, Old Navy, Ulta, Chick-Fil-A, and On The Border. Mark Sapperstein of 28 Walker Development, one of the partners in The Shops at Canton Crossing, claimed that it offers more national retailers than any other shopping center in the city of Baltimore.

Nordstrom Rack president Karen McKibbin said the center was chosen for its “more convenient location for customers who live and work closer to downtown.”

The Baltimore store will be Nordstrom Rack’s sixth in Maryland.


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REAL ESTATE

Quick-service chain sees big expansion push

BY CSA STAFF

The Wendy’s Co. is bullish on expansion.

The chain wants to add approximately 1,000 locations by 2020, reported Nation’s Restaurant News.

Wendy’s currently has a little over 6,500 locations worldwide. The new units would be located in North America, where the brand has commitments from operators to build at least 500 locations, and internationally, where it wants to grow from its existing 439 locations to 850 units, the report said.

Key to its growth strategy is a new, more flexible design that will allow Wendy’s to open in smaller spaces, the report said.

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