REAL ESTATE

Westfield Valley Fair announces nine new tenants

BY Michael Fickes

Santa Clara, Calif. — Westfield Valley Fair in Santa Clara, Calif., is welcoming nine new retailers.

They include:

• Prada recently opened a new 6,254-sq.-ft. boutique.
• Ferragamo has opened a new 3,155-sq.-ft. store.
• UNIQLO will open a new store this fall.
• 49ers Team Store is scheduled to open this month.
• MAKE UP FOR EVER will open a 1,100-sq.-ft. boutique next week.
• Brandy Melville will open a 2,938-sq.-ft. store also this month.
• JOE’S Jeans opened a 1,499-sq.-ft. store last week.
• Mezlan has recently opened a new boutique.
• Hanna Andersson has also recently opened a new store.

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REAL ESTATE

CVS/Pharmacy opens at Parkesburg, Pa., center

BY Michael Fickes

Parkesburg, Pa. — CVS/Pharmacy recently opened a 7,940-sq.-ft. store at the Parkesburg Shopping Center in Parkesburg, Pa. CVS purchased the business of the location’s previous occupant, Longenecker Pharmacy, an independent, family-owned chain.

The 56,652-sq.-ft. development is exclusively leased and managed by Levin management. The center serves a population of more than 34,600 people within a five-mile radius. Average household income is more than $67,500. Daily traffic count is about 23,800 vehicles.

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REAL ESTATE

CBRE sells Albuquerque retail center — again

BY Michael Fickes

Dallas — CBRE’s National Retail Investment Group www.cbre.com has arranged the sale of Cottonwood Commons on behalf of Columbus Pacific Properties www.columbuspacific.com. The 191,893-sq.-ft. Class A retail center in Albuquerque sold to Cole Real Estate Investments www.colecapital.com.

In 2010, CBRE marketed the then 84,545-sq.-ft. center in a short sale to Columbus Pacific. At the time, the center was 84% occupied. Since then, Columbus Pacific has expanded the center with the purchase of an adjacent 99,000-sq.-ft. building. The center now consists of four buildings — two large multi-tenant buildings and two single-tenant buildings. In addition to the expansion, Columbus Pacific improved the center with a new façade and pylon sign.

Over the last 12 months, Cottonwood Commons has added Dick’s Sporting Goods, Gordmans, Panera Bread and La Montanita Natural Foods Market, bringing the center’s occupancy to 96.7%.

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