HUNT VALLEY, MD. — Walker & Dunlop has secured $90 million in acquisition financing for the 766,256-square-foot Hunt Valley Towne Center, a shopping center located on York Road in Hunt Valley. Wegman's anchors the center, which includes Chipotle, Chico's, California Pizza Kitchen, Caribou Coffee and M&T Bank. Tyler Blue and Paul Wallace of Walker & Dunlop's Bethesda, Md., office arranged the 8-year, interest-only loan through American International Group.
CHESTERFIELD, MO. —Taubman Centers Inc. has broken ground on Taubman Prestige Outlets Chesterfield, located in the western St. Louis suburb of Chesterfield. The open-air shopping center will include 450,000 square feet of retail with more than 100 stores. In a statement, Taubman said demand has been positive and it has firm commitments from most major retailers. The company expects the project will generate 750 construction jobs and employ about 1,200 people when the mall opens. The center will include a mix of high-end, fashion-focused designer outlets, popular favorites and a food court. The mall is scheduled to open in the fall of 2013.
PETERSBOROUGH, N.H. — Petersborough-based Eastern Mountain Sports, one of the nation's largest outdoor retailers, plans to open three new stores in the Northeast. An existing location at the Plaza at Buckland Hills in Manchester, Conn. is moving approximately 12 storefronts down the plaza to an 18,831-square-foot space next to PetSmart. The store is expected to open April 27. The retailer will also open a 20,442-square-foot store at 301 Maine Mall Rd. in South Portland, Maine on May 11. Construction is currently underway for a new 13,013-square-foot Eastern Mountain Sports Store in the North Village Shopping Center in New Brunswick, N.J. The store is scheduled to open June 15.
NEW YORK CITY — Equity One has been selected to redevelop an 80,000-square-foot site along the Broadway retail corridor in the Bronx. The firm will spend $54 million to construct a new, 133,000-square-foot retail development and parking facility on the site in the Kingsbridge area. Equity One plans to look for four national retail tenants for the space. The developer will purchase the site from the city for $7.5 million, with construction expected to begin in early 2013 and be completed within two years. Equity One was selected as developer after responding to a request for a proposal from the New York Economic Development Corp. in August 2011.
NEW YORK CITY — The Texas-based Alamo Drafthouse theater chain is opening its first location in New York. Alamo Drafthouse will own and operate the five-screen theater, which will be located on the Upper West Side, occupying the former Metro Theater at 2626 Broadway. Like all Alamo Drafthouse theaters, the Alamo Drafthouse at the Metro will provide food and drink service to movie-goers' seats and uphold its famously strict no-talking policy. The new theater is scheduled to open in 2013.
COLLEGEVILLE, PA. — Trappe Strip Center, a 10,664-square-foot retail property in Collegeville, has sold for $1.6 million. The center is located at 430 W. Main St. and was fully occupied at the time of sale. Brad Nathanson of Marcus & Millichap's Philadelphia office represented the seller, a Norristown, Pa.-based private family. He also procured the buyer, a Reading, Pa.-based, privately held real estate company.
KATY — Houston-based Q10 Kinghorn, Driver, Hough & Co. (KDH) has secured $14 million in long-term senior debt permanent financing for a 167,000-square-foot, grocery-anchored center in Katy. The property is 99 percent leased and was built in 2004. Sam McHard of KDH's Houston office arranged the financing through Prudential Mortgage Capital Co.
FORT PIERCE, FLA. — H&H has sold the 53,000-square-foot Virginia Avenue Plaza, located at 800 Virginia Ave. in Fort Pierce, to Virginia Plaza Avenue LLC for $2 million. Nikolaus Schroth of Stuart, Fla.-based NAI Southcoast represented the seller in the transaction and Bryan Grunbaum, also of NAI Southcoast, represented the buyer.
PLOVER, WIS. — Staples has signed a retail lease for 15,500 square feet at Common Crossroads, located at 1230 Commons Circle Parcel 8 in Plover. Joe Kleiman and Daniel Cohen of Mid-America Real Estate's Milwaukee office represented the tenant in the deal. Kim Pischeke of CORE Commercial's Appleton, Wis. office represented the landlord, JJ Plover Max Venture II and Plover Shoppes LLC.
BOSTON — Linear Properties has acquired five retail condominiums at 346-354 Congress St. in Boston for $4.8 million. The condos are located within a seven-story property, known as FP3. The acquisition includes 15,711 square feet of space within the five retail condos on the first two floors of the building. Jonathan Dutch of Boston Urban Partners represented the seller, 346 Congress Street LLC, in the transaction. He also procured the buyer. The purchase price was undisclosed.
