FORT WORTH — Dick's Sporting Goods is slated to open a 50,000-square-foot store that will anchor the 140,000-square-foot Phase II of Alliance Town Center, located on Interstate 35 West at Heritage Trace Parkway in North Fort Worth. Alliance Town Center currently spans 800,000 square feet and includes tenants such as Belk, JC Penney, Best Buy, Jos. A. Bank, Kroger Marketplace, PetSmart, Ulta, Olive Garden and Chick-fil-A, among other retailers and restaurants. The shopping destination is owned by a joint venture between Hillwood and Trademark Property Co. Construction of the Dick's Sporting Goods store is slated to begin in July and is scheduled to open in the summer of 2014.
Retail
PHILADELPHIA — NorthMarq Capital has arranged a $29.5 million construction loan for Bakers Square Shopping Center, a 220,000-square-foot shopping center that will be built at Fox Street and Roberts Avenue in Philadelphia. Major tenants at the center are Shop Rite and Ross Dress for Less. Joseph Sweeney of NorthMarq Capital arranged the 20-year loan for the borrower, TKMG Associates LP, through a regional bank. The loan has a 30-year amortization schedule.
CORNWALL, N.Y. — National Net Lease Realty has arranged the $4.1 million sale of a CVS in Cornwall. The buyer is a New York-based investor who acquires core, net-leased assets. Terry marks of National Net Lease Realty represented the seller, a private investor in the transaction.
CHESTNUT HILL, MASS. — Pottery Barn, Swedish children's apparel retailer Polarn O. Pyret and Treat Cupcake Bar have signed new leases for space at the Chestnut Hill Shopping Center in Chestnut Hill. The new stores are scheduled to open in the spring of 2013 in a new building at the site of a former Macy's. The new stores join others recently announced including The Sports Club/LA , Cinema de Lux, Shake Shack, Pinkberry and gourmet Asian restaurant, Bernard's.
PEORIA, ARIZ. – Oakland Apartments has purchased a Chase Bank ground lease at the southeast corner of Lake Pleasant & Happy Valley roads in Peoria for $3.4 million. The deal will provide the buyer with investment income for the remaining 17 years on the lease. There are also four, five-year renewal options. The lease is for 4,307 square feet inside the Mountainside Crossing Shopping Center. Jan Fincham and Patrick Dempsey of Lee & Associates represented both the buyer and the seller, Barclay Pleasant Valley, LLC, in this transaction.
RIVERVIEW, FLA. — TNP has acquired the 78,500-square-foot Bloomingdale Hills, a shopping center located at the intersection of West Bloomingdale Avenue and Providence Road in Riverview, a submarket of Tampa. Walmart Neighborhood Market anchors the center, which is fully leased. The property is the public non-traded REIT's 19th acquisition.
TAYLOR, MICH. — Rouse Properties has secured a $78.8 million mortgage loan for Southland Center, a 900,000-square-foot enclosed mall in Taylor. Anchors at the mall on Eureka Road include Macy's and JC Penney. Recently, retailer Forever 21 signed a lease to take over a former 22,500-square-foot Borders space at the property. The 10-year, non-recourse loan bears interest at a fixed rate of 5.09 percent.
SPRINGFIELD, MO. — The University Plaza Hotel and Convention Center in Springfield plans to launch construction of the hotel's new, on-site day spa this July. The 1,100-square-foot facility will be located on the hotel's main floor and services will include massages, facials and manicures. The spa is scheduled to open this September. The University Plaza Hotel is owned by John Q. Hammonds Hotels & Resorts.
GIBSONIA, PA. — Philips Edison – ARC Shopping Center REIT Inc. has acquired Northtowne Square, a 113,327-square-foot shopping center in Gibsonia, for $10.6 million. The center is fully occupied and anchored by an 86,477-square-foot Giant Eagle grocery store, which has 12 years remaining on its lease. Recently, Petco signed a 10-year lease at the property for 9,000 square feet. The acquisition brings Philips Edison's total portfolio to 14 properties.
WACO — Conn's Inc. has opened a 45,000-square-foot Conn's Home Plus store, located at 230 N. New Road in Waco. The new store includes more than 23,000 square feet devoted to furniture and mattresses. Conn's currently operates 65 locations in Texas, Louisiana and Oklahoma.