REAL ESTATE

Triangle Equities hits milestones in Bronx development

BY Michael Fickes

Bronx, N.Y. — Triangle Equities has reached several milestones in the development of the $35 million, 88,000-sq.-ft. Triangle Plaza Hub at 149th Street in Bronx, New York. The development aims to help revitalize a generally underserved area with a mixed-use commercial and community facility located at a transit center that serves 200,000 people daily. Vista Optical has also leased space.

To date, Triangle’s accomplishments include signing two key anchor tenants: Fine Far supermarket and Metropolitan College of New York.

In addition, the company has successfully completed the initial structural work of installing the first steel columns. The difficult work was carried out after substantial underground preparations — near live subway rail tracks.

Developed in accordance with energy efficient and green building principles, Triangle is aiming for a minimum goal of LEED Silver certification.

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REAL ESTATE

Firehouse Subs enters Charlottesville, Virginia, market

BY Michael Fickes

Charlottesville, Va. — Firehouse Subs has signed a 2,264-sq.-ft. lease for its first location in Charlottesville, Virginia — at 100 Shoppers World Court.

Divaris Real Estate’s Richmond, Virginia, office represented Firehouse Subs in the transaction. Divaris (www.divaris.com) has represented Firehouse in the site selection and lease negotiations for the majority of its Hampton Roads sites and for several locations in the greater Richmond area.

Divaris Real Estate is a member of Realty Resources, (http://www.realtyresources.org/) a national group of independent retail property brokers and managers, covering 91 major markets throughout the United States.

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REAL ESTATE

Advance Auto to South Plainfield, New Jersey, center

BY Michael Fickes

South Plainfield, N.J. — Advance Auto Parts has signed an 11,382-sq.-ft. lease at Oak Park Commons in South Plainfield, New Jersey, bringing the center’s occupancy rate up to 95%. Charter Realty & Development co-brokered the transaction with NJ Commercial Realty.

The auto parts retailer will be joining Dollar Tree, A&P, McDonalds, CVS, Subway, GNC, Wells Fargo, Goodyear, RadioShack, and H & R Block.

The average household income within a three-mile radius of Oak Park Commons is $124,454. The traffic count for the location is 21,000 vehicles per day.

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