DEDHAM, MASS. — The grand opening has been held for a new L.L. Bean retail location at Legacy Place in Dedham. The two-level store totals 30,000 square feet and has received LEED-Gold certification. Legacy Place is a 675,000-square-foot shopping center that officially opens at the end of August. Additional tenants at the center include Whole Foods Market, Showcase Cinema de Lux, Borders, and more. The project is being developed by Chestnut Hill, Mass.-based WS Development.
Retail
BEL AIR, MD. — SECU has purchased land for a 4,500-square-foot bank branch from Park Centre/Plumtree LLC for $1.85 million. The branch will be built in the Park Centre development, which is located at the intersection of Plumtree Road and Route 24 in Bel Air. The new bank branch will open early next year. Chris Bennett of Columbia, Md.-based Manekin represented SECU, and the firm’s Joe Bradley represented the seller.
INDIANAPOLIS — An 11-acre parcel of land, on which stands a 16,814-square-foot shopping center, has been sold in southeast Indianapolis. The shopping center, located at 6040 Thompson Rd., is anchored by Dollar General. Also included as part of the sale was a 1-acre outlot situated in front of a WalMart Supercenter at 4150 Commerce Rd. in Lafayette, Ind. Chris Hake of locally based development and construction firm Thompson Thrift has represented Old National Bank, while Felicia Hogue represented Thomas A. Grant Inc.
LOS ANGELES — Dallas-based 7-Eleven Inc. is planning an aggressive growth plan for Southern California. The company plans to open more than 100 stores across the region in the next 3 years. The expansion will span seven counties: Los Angeles, Orange, Riverside, San Bernardino, San Diego, Ventura and Santa Barbara. The expansion investment for 2009 is approximately $50 million and expected to be more than $60 million for 2010. The company has hired CB Richard Ellis to serve as its exclusive brokerage firm in Southern California.
NEW YORK CITY — Massey Knakal Realty Services has brokered the sale of a single-story retail building, located at 76-07/23 Jamaica Ave. in New York City, for $1.1 million. The property, which is located in the Woodhaven neighborhood of Queens, totals approximately 4,298 square feet and contains three tenant spaces. The building was fully occupied at the time of closing. Massey Knakal’s Stephen Preuss and Brian Sarath negotiated the transaction. Both parties were undisclosed, but the buyer was participating in a 1031 exchange.
CORPUS CHRISTI, TEXAS — NAI Cravey Real Estate Services has arranged a 25,000-square-foot retail lease of the former Graham Central Station building to E.C. Barton Co. E.C. Barton will be expanding and relocating its Surplus Warehouse store to the 35,000-square-foot building. The company plans to move in November. Lynann Pinkham of NAI Cravey represented the E.C. Barton Co., and Ross Partlow represented the building owner in the lease transaction.
RUSTON, LA. — Stirling Properties will break ground this fall on a 13,650-square-foot Walgreens store in Ruston. The property will be located at the intersection of North Trenton Street and Reynolds Drive. Completion is slated for the third quarter of next year.
POTTSTOWN, PA. — Cedar Shopping Centers has held the grand opening of Upland Square in Pottstown. The $106.4 million, 686,000-square-foot shopping center is being developed by a partnership of Cedar Shopping Centers and Tristate Ventures, an affiliate of Fameco Real Estate. Tenants at in the center include Target, Giant Food Stores, Best Buy, Bed Bath & Beyond, TJ Maxx, Staples, Petco, Sleepy’s, Five Below, Books 4 Less, Famous Footwear and others. Most of the stores are scheduled to open in the next month. Cedar contributed approximately $22 million to the project and owns a 60 percent interest. Fameco will lease and manage the project. Currently, the center has 85 percent committed leases and has 485,000 square feet completed. Upland Square is just one of two centers that Cedar and Fameco are working on. The other is The Shoppes at Crossroads in Stroudsburg. The 131,000-square-foot center will be anchored by a 76,400-square-foot Giant supermarket, AT&T Wireless and a Red Lobster. The center is scheduled for completion in October. Cedar is also developing two other supermarket-anchored properties located in Pennsylvania that are scheduled for completion in the next quarter. Blue Mountain Commons in Harrisburg will be anchored by a Giant supermarket, and …
LEVITTOWN, PA. — Three retailers have opened at DLC Management Corporation’s new 468,675-square-foot Levittown Town Center in Levittown. Wal-Mart Supercenter, Ross Dress for Less and Famous Footwear will join a roster of retailers that include KFC/Taco Bell, Sonic, Wachovia and The Home Depot. Other retailers are scheduled to open in the center towards the end of the year.
DALLAS — Centennial Real Estate Co., in partnership with Westmount Realty Capital, has signed a new anchor tenant as part of its renovation of the 145,000-square-foot Spring Creek Crossing in Dallas/Fort Worth. The Asian-concept grocery chain 99 Ranch Market has signed a 60,000-square-foot lease and will be the anchor store for the project. John Zikos and Bryan Cornelius of Venture Commercial Real Estate represented the landlord in lease negotiations.