LANCASTER, PA. — Kohl's is set to open its newest located at the end of the month at Mill Creek Square in Lancaster. The apparel retailer will anchor Phase I of the $40 million project. Additional Phase I retailers, which will open through October and November, will include Bed Bath & Beyond, Christmas Tree Shops, Ross Dress for Less, Shoe Carnival, Sally Beauty Supply and Hair Cuttery. Phase I is currently 90 percent leased. In addition, construction has commenced for Phase II of the project, with an anticipated completion of next summer. At full-build-out, Mill Creek Square will contain 288,132 square feet of retail space on 35 acres. Its developer is locally based High Real Estate Group. The project architect is Greenfield Architects, and the general contractor is High Construction Co., both of which are affiliates of High Real Estate.
Retail
NEW YORK CITY — REI plans to open its first retail located in New York City with the signing of a 39,000-square-foot lease at Manhattan's historic Puck Building. The outdoor retailer will occupy 14,000 square feet of ground-floor space and 25,000 square feet of below-grade space at the historic building, which is located at the corner of East Houston and LaFayette streets. The new store will be contained over three floors and will feature a full-service bike repair shop. Susan Kurland of CB Richard Elllis represented REI in the long-term deal. Lori Shabtai of Winick Realty represented the landlord, Kushner Cos. The store is REI's third planned for the Tri-State area. A location is East Hanover, N.J., is already open, and another one will open next month in Norwalk, Conn.
FAIRVIEW — A Real Bookstore has signed a 20,000-square-foot lease at The Village at Fairview, making it the largest locally owned bookstore in North Texas. The one-story bookstore will open in December and will include a 2,000-square-foot children's section, a dedicated event space and an area for cooking demonstrations. The Village at Fairview is being developed in conjunction with its sister property The Village at Allen, which opened in October 2008. Together, the mixed-use projects span 400 acres and will include 2 million square feet of retail and 1 million square feet of office, residential and hotel space.
AURORA, ILL. — Chick-fil-A, an Atlanta-based chain restaurant, is opening three restaurant locations in the Chicagoland area by the end of the year. The first of the new locations opened in mid-September and is located at 4435 Fox Valley Center Drive in Aurora. The company plans to open a location in Orland Park, Illinois, in October and a location in Wheaton, Illinois, in November. The new Chicagoland locations are part of the 78 new locations that the company plans to open this year. Additionally, Chick-fil-A plans to expand its Midwest presence with a planned 2011 expansion in St. Louis.
DALLAS — Austin-based Chuy's, a Tex-Mex concept created in 1982, has opened its fourth location in the Dallas-Ft. Worth Metroplex. Located at 3908 Dallas Pkwy. along the Dallas North Tollway, Chuy's chose the location due to the daytime corporate population in opening its fourth Metroplex location. This is the 20th Chuy's opening and the restaurant is looking to expand throughout the Southeast. Dallas-based Foremark represented Chuy's in its site location
DALLAS — Dallas-based Stan Johnson Co. has sold a retail property housing Chase Bank, located at 4709 Ross Ave. in Dallas, for $1.8 million to an international investor. Brett Butler of Stan Johnson Co. represented the company, while Tom Roth of Strategic Retail Advisors represented the buyer in the sale.
MACON, GA. — Hull Storey Gibson Cos. has purchased the 1.44 million-square-foot Macon Mall from a private party for an undisclosed price. The mall, which opened in 1975, is located on Eisenhower Parkway in Macon. The property is anchored by Belk, JC Penney and Sears. Macon Mall underwent an expansion in 1997.
SPARTANBURG, S.C. — Centro Properties Group has borrowed $18.5 million for its 384,306-square-foot Hillcrest Shopping Center. The Publix-anchored center, which is 76 percent leased, is located on East Main Street in Spartanburg. Quadrant Real Estate Advisors funded the 5-year loan. Dustin Stolly, Jere Lucey and Bryan Jonas of Jones Lang LaSalle secured the loan.
ROY, UTAH — Marcus & Millichap has brokered the $3.55 million sale of the 30,860-square-foot Roy Crossroads, located at 5647 South 3500 West in Roy. The two-building retail complex was fully occupied by seven tenants at the time of the sale. Marcus & Millichap’s Russell Packer represented the seller, a developer, in the transaction, and the brokerage firm’s Michael Beckstead and Jeff Dopp of Utah Executive Real Estate represented the buyer, a private investor, which was involved in a 1031 exchange.
NORTH ARLINGTON, VA. — Rick Fernandez of Calkain Cos. represented an undisclosed party in its $7.3 million sale of a Walgreens store to an undisclosed buyer. The NNN property, which is located in North Arlington, sold at a 6.8 percent cap rate.