REAL ESTATE

Ulta Beauty to open at Cumberland Mall in the fall

BY Michael Fickes

Vineland, N.J. — Ulta Beauty will open a new superstore this fall at Cumberland Mall in Vineland, N.J. The 10,500-sq.-ft. store will feature a full-service salon as part of its offerings.

Cumberland Mall is anchored by Boscov’s, Marshalls, J.C. Penney, Burlington Coat Factory, Michaels, Old Navy and Bed Bath & Beyond.

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REAL ESTATE

Urstadt Biddle acquires two retail properties

BY Michael Fickes

Greenwich, Conn. — Urstadt Biddle Properties Inc. has acquired two retail properties on Putnam Avenue (US Route 1) in Greenwich, Conn., for $18 million.

West Putnam Plaza is a 9,300-sq.-ft. retail strip center shadow-anchored by a Stop & Shop supermarket. National tenants include Cosi and JP Morgan Chase Bank. A wine retailer, day spa and women’s fitness studio round out the tenant list.

The second property is Cos Cob Plaza, a 15,000-sq.-ft. retail and office center. Tenants include Jos. A. Bank.

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REAL ESTATE

Vintage Real Estate acquires The Mall at Whitney Field

BY Michael Fickes

Leominster, Mass. — Vintage Real Estate has purchased The Mall at Whitney Field, a 700,000-sq.-ft. regional shopping center in Leominster, Mass., about 35 miles west of Boston. Anchors include Macy’s, Sears, J.C. Penney, Market Basket, Toys “R” Us and Old Navy.

Concurrent with the acquisition, Burlington Coat Factor signed a 10-year lease for a 66,000-sq.-ft. space formerly occupied by Circuit City.

About 70 inline retailers and restaurants make up the remainder of the tenant list. National names include Victoria’s Secret, Bath & Body Works, Justice, Payless Shoes and Panera Bread. The center’s average sales per square foot is $355, which is above the national average.

The mall changed hands in 2007 for $82 million, including the assumption of a $74.5 million loan. The lender foreclosed in November 2010 with a $72.2 million loan balance. Eastdil Secured marketed the property.

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