REAL ESTATE

Wilder acquires centers in Connecticut and Pennsylvania

BY Al Urbanski

The Wilder companies announced its acquisition of two market-leading retail centers that added more than 800,000 sq. ft. to its portfolio.

Silver Spring Square in Mechanicsburg, Pa., contains the only Wegman’s supermarket in the Harrisburg trade area. The 570,000-sq.-ft. center is shadow-anchored by Target and Kohl’s.

The Marketplace at Hamden in Connecticut, features one of the highest-volume Stop & Shop locations in the New England, along with T.J. Maxx, Old Navy, Petco, Pier One Imports, and TGI Fridays. The 235,000-sq.-ft. center was purchased in partnership with an institutional real estate fund and Silver Peak Real Estate Partners.

“With these acquisitions we are expanding our presence in Connecticut and are pleased to re-establish ourselves in Pennsylvania,” said Shelley Anderson, Wilder’s director of new business development.

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Where are brick-and-mortar’s best retail experiences?

BY CSA Staff

That’s what we want you to tell us.

Chain Store Age is now accepting nominations for its “Top 10 Retail Center Experiences” feature to be published in the July/August issue. We invite retailers to tell us about the centers that build meaningful traffic for them with compelling experiences, and we invite owner/operators to clue us in to unique customer draws they’ve installed in specific properties.

“Unique is the operative word here,” said CSA real estate editor Al Urbanski. “We want a list of centers doing things no other center in the country is doing. It could be something that runs throughout an entire center, or it could be one incredibly innovative feature.”

In last year’s list, for instance, No. 1 Mall of America was recognized for the entirety of experience, while No. 2 Brickell City Centre was singled out for its architecturally and ecologically unique Climate Ribbon roof.

You can make nominations for this year’s list here. Every retail property — from a necessity-based center to the retail portion of a master-planned community — will be considered. Final selections will be made by a panel of CSA editors.

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M.Sapir says:
May-08-2018 11:17 am

We feel our Snow Heights Promenade should be Featured (www.snowheightspromenade.com). Michael Sapir, CEO, Sapir Real Estate Development.

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Million-sq.-ft. project destined for rock quarry in Maine

BY Al Urbanski

Stone from an old quarry outside of Portland, Me., has doubtless found its way into many a mall parking lot. But soon retail will be springing up on the former site of the Pike Industries asphalt operation.

Waterstone Properties has affixed a name to the million-sq.-ft. mixed use project it will build at the quarry and announced its first retail tenant. Market Basket Supermarket plans to open shop at the Rock Row development sometime next summer.

“With Market Basket’s opening at Rock Row, we are one step closer to turning the site of the old quarry into a new gateway for the community,” said Josh Levy, co-founder and principal at Waterstone Properties.

The city council of Westbrook, wherein the property resides, granted Rock Row a tax increment financing agreement, which will provide a financing vehicle for the equivalent of $12 million in public infrastructure costs. Fifty percent of the tax generated at Rock Row over a 25-year period will go to the city in an effort to spur economic growth.

At full build-out, the 100-acre project will include 450,000-sq. ft. of retail space, including a brewery and a food hall, plus more than a million sq. ft. of commercial, residential, and hospitality. Also in the works is a 100,000-sq.-ft. medical and wellness campus.

“This project is transformative for the entire region,” said Lynn Tillotson, president of Visit Portland.

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