CORVALLIS, ORE. — Regency Centers has leased space to Trader Joe’s, a specialty grocer, at Corvallis Market Center, which is located at NW 9th Street and NW Garfield Avenue in Corvallis. Construction for the 12,000-square-foot store is scheduled to begin in August with completion expected in late 2009. With the addition of Trader Joe’s, the 84,548-square-foot shopping center is 100 percent leased by national merchants.
Retail
NEW YORK CITY — Turin, Italy-based Eataly has leased more than 44,000 square feet of ground floor, lower level and rooftop space at 200 Fifth Ave. in Manhattan for its flagship New York City Marketplace. The new eatery will be located in L&L Holdings’ 850,000-square-foot building Flatiron District Building. L&L is completing a $135 million redevelopment program that includes restoration of the property’s façade and infrastructure. Scheduled to open by next summer, the new store will feature a retail center for Italian wine, a culinary educational center and a boutique eateries. Each retail area will be paired with its own dedicated restaurant that will include a wood-fired pizza and pasta bar, a cheese and salami counter, a steak restaurant, a vegetarian restaurant, a crudo and seafood bar and an Italian bar.
FLORENCE AND ERLANGER, KY. — Strategic Storage Trust (SST) has purchased two self-storage properties, located in the Cincinnati suburbs of Florence and Erlanger, for $9.7 million. The two properties go by the Security Self Storage name; they total 1,500 units and 190,000 rentable square feet. The seller was not disclosed. In February, SST purchased three self-storage properties, also located in the Cincinnati/North Kentucky area, for $9.9 million.
FAIRVIEW HEIGHTS, ILL. — Swansea, Ill.-based Holland Construction Services has completed the tenant build-out for a new Ulta beauty supply store. The more than 10,000-square-foot store is located at 6621 N. Illinois St. in Fairview Heights, and it features a salon and a spa.
EAU CLAIRE, WIS. — CB Richard Ellis (CBRE) Capital Markets has arranged a $3.67 million loan for the refinancing of a 220,743-square-foot retail center located in Eau Claire. Occupancy at the center was 98 percent at the time of closing. Baxter Fain and Heather Teverbaugh of CBRE’s Denver office arranged the non-recourse loan, which includes a 10-year term, with a 6.29 percent fixed interest rate and no reserves required. The borrower was a private ownership group and the lender was a correspondent life insurance company.
SADDLE BROOK, N.J. — Jaime Weiss and Matthew Weiss of Weiss Realty Co. have represented Paljer Company in a 10-year lease transaction with Dollar General for 15,593 square feet at 419 Market St. in Saddle Brook. Consultant Tim Keeley represented Dollar General in the lease transaction. Weiss Realty also brokered a land lease for a new 2,400-square-foot Capital One Bank with drive-through on the site. Construction on the bank is expected to start this summer.
UKIAH, CALIF. — Santa Monica, Calif.-based Columbus Pacific Properties has acquired Ukiah Crossroads Shopping Center, a 110,000-square-foot retail center located at North State Street and US 101 in Ukiah. The center is anchored by a 61,046-square-foot Raley’s supermarket. The buyer was represented in-house by Phillip Duke; Dan Wald, Dave Nord, Steve Holm, Mark Koenig and John Schaefer of Terranomics Retail Services represented the seller, a joint venture between Kimco Realty Corp. and Prudential Real Estate Investors, in the transaction.
MIAMI — Hunt-Moss, a joint venture between Scottsdale, Ariz.-based Hunt Construction Group and Fort Lauderdale, Fla.-based Moss & Associates, has broken ground on the 37,000-seat Miami Marlins baseball stadium. The $450 million project is located on 17 acres of the former Orange Bowl Stadium site in Miami. The ballpark will feature a retractable roof and six operable glass panels behind center field. A grand opening is scheduled for April 2012.
MIAMI — Miami-based Link Construction Group has broken ground on a 14,500-square-foot Walgreens at the intersection of Biscayne Boulevard and 150th Street in Miami. Demandt Architecture of Miami designed the project, which is being developed by Taubco. Completion is slated for January.
OVERLAND PARK, KAN. — The scheduled redevelopment of the Cherokee South Plaza shopping center is commencing this month in Overland Park. After obtaining financing in the midst of difficult lending conditions, the developer has commenced the construction process. Tri-Land Properties is handling the renovation of the 118,000-square-foot center, including the demolition of the former Cherokee South Sun Fresh, as well as the construction of three new buildings. Construction of a 15,000-square-foot Walgreens has already begun, with a scheduled opening in October. The remainder of the redevelopment is expected to be complete in December.