REAL ESTATE

Tri-Land announces new leases

BY Staff Writer

Westchester, Ill. — Tri-Land Properties announced Thursday that Marshalls and Qdoba Mexican Grill have joined the company’s projects in Indiana and Minnesota.

At Southern Plaza, a 335,000-sq.-ft. Indianapolis shopping center anchored by Kroger and Office Depot, Marshalls has opened a 24,084-sq.-ft. store.

At Century Plaza, a 300,592-sq.-ft. shopping center located in Merrillville, Ind. anchored by Staples and Old Time Pottery, Qdoba Mexican Grill has opened a 2,700-sq. ft. Mexican fast-casual restaurant.

Also, in related news, Blaine Oriental Market has expanded to 4,280 sq. ft. at Oak Park Plaza, a 95,340-sq. ft. shopping center in Blaine, Minn.

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REAL ESTATE

Brooks Brothers to open at Renaissance at Colony Park

BY Staff Writer

Ridgeland, Miss. — Renaissance at Colony Park announced that Brooks Brothers is joining its tenant lineup and is scheduled to open a 7,500+-sq.-ft. store in Ridgeland, Miss., in November. Currently, the nearest Brooks Brothers stores to the Jackson (Miss.) metropolitan area are in New Orleans and Memphis.

Other recent openings at Renaissance at Colony Park include Another Broken Egg Café and Apricot Lane Boutique. Opening soon are SOMA Intimates and Altar’d State Christian Stores.

The open-air Main Street-style center is in the midst of leasing Phase two, which is slated for a fall 2012 opening. Upon completion of the second phase, Renaissance at Colony Park will consist of approximately 500,000 sq. ft. of building space on 57 acres and 50,000 sq. ft. of office space above the retail shops.

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Westwood Financial sells center in Lone Tree, Colo.

BY Staff Writer

Lone Tree, Col. — Westwood Financial Corp. has sold the 34,749-sq.-ft. Heritage Hills Shopping Center in Lone Tree, Colo., as part of its efforts to strengthen its strategic investment in new Southeastern U.S. markets. The retail property, located at 9227-9231 Lincoln Ave., was in Westwood Financial’s portfolio for 11 years and sold to Carlisle Properties for $11.4 million.

“We see an opportunity to expand our scope in the Southeast utilizing the capital gained from this transaction,” said Joe Dyksra, executive VP Westwood Financial Corp. “While our immediate plans will be to own the anchor space, Westwood Financial will also be re-deploying funds gained from this particular transaction into the Southeast market.”

The 18-unit Heritage Hills Shopping Center was built in 1999 and currently is 96% leased.

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