WILLIAMSBURG, VA. — S.L. Nusbaum Realty Co. has begun construction of Quarterpath Crossing Shopping Center, an 85,610-square-foot retail center located at the intersection of Quarterpath Road and Route 199 in Williamsburg. The development, which is situated on 14.88 acres of land that was acquired from the Colonial Williamsburg Foundation, will be anchored by a 52,610-square-foot Harris Teeter food market. Additionally, 21 small stores will be available for lease. Harris Teeter’s grand opening is scheduled for the summer of 2009. Raleigh, N.C.-based Ashland Construction Co. is the general contractor for the project; Williamsburg-based Jack L. Massie Contractor will act as site contractor for the shopping center and will construct Quarterpath Road.
Retail
DUNELLEN, N.J. — Woodbridge, N.J.-based The Kislak Company has completed the sale of Station Plaza, a 27,200-square-foot retail strip center located in Dunellen, for $6.75 million. The property features nine tenant spaces, and is anchored by Family Dollar and The UPS Store. Barry Waisbrod of Kislak represented the seller, Valstir LLC; Matt Weilheimer, also of Kislak, represented the undisclosed buyer.
CALABASAS, CALIF. — Cypress Retail Group and Dollinger Properties have broken ground for the construction of The Summit at Calabasas, the first privately-funded green retail center in Calabasas. Located along the 101 Freeway at Lost Hills Road, the 70,000-square-foot center will be anchored by a 20,000-square-foot The City, an upscale electronics store operated by Circuit City. Approved by the city council in March, the center follows Calabasas’ green building ordinance. Tenant space is slated for delivery at the end of first quarter 2009, with the center opening in July 2009.
SAN ANTONIO — Irving, Texas-based Archon Group is nearing completion for Alamo Ranch, a 950,000-square-foot power center located in San Antonio. Situated on 114 acres at the intersection of Loop 1604, State Highway 151 and Culebra Road, the retail project is already 80 percent pre-leased. Tenants will include Target, J.C. Penney, Lowe’s Home Improvement Warehouse, Best Buy, Dick’s Sporting Goods and Ulta, among others. In addition to in-line shop space, Alamo Ranch also will include 16 outparcels. Tenants already signed to these spaces include Olive Garden and Chick Fil-A. MDN served as project architect, and EMJ Corp. is providing general contracting services. The grand opening is scheduled for July 30th.
BONITA, CALIF. — California-based Alcott Estates LP c/o PVCC Inc. has acquired the Bonnie Brae Center, which is located on Bonita Road and Central Avenue in Bonita, for $13.88 million. The 53,512-square-foot retail center is anchored by the U.S. Post Office, Starbucks Coffee and Kentucky Fried Chicken. California-based VLD Bonnie Brae LP c/o R&V Management sold the property. Scott Duhs and Craig Duhs of Duhs Commercial Real Estate represented the buyer; Brian Quinn and John Still of Flocke & Avoyer Commercial Real Estate represented the seller in the transaction.
SAN BERNARDINO, CALIF. — Arrowhead Central Credit Union has acquired a 62,547-square-foot retail building, which is located at 420 S. E St. in San Bernardino, from San Bernardino Design Center LP for $3.95 million. The buyer plans to raze the existing building and develop a corporate campus on the site. David Moore of NAI Capital’s Riverside, Calif., office represented Arrowhead in the transaction; Tony Guglielmo of RE/MAX Commercial Pacific represented the seller.
CLERMONT, FLA. — Ross Dress for Less will join Weingarten Realty’s Clermont Landing retail project as a co-anchor. Clermont Landing, which will be located at the intersection of U.S. Highway 27 and Steve’s Rd. in Clermont, is slated for completion in 2009. The project will include 366,000 square feet of retail space with a mix of lifestyle tenants and national retailers. Other tenants within the center will include JC Penny, Epic Theatres, T.J. Maxx, Michaels and Famous Footwear. Alex Munoz of The Shopping Center Group represented Ross Dress for Less in the lease negotiations.
JOLIET, ILL. — Los Angeles-based developer O&S Holdings, in partnership with Hollywood, Fla.-based Strategic Retail Development, has acquired 130 acres of land in Joliet for the purpose of building Bridge Street Town Centre, a 3.5 million-square-foot mixed-use development. Located at the intersection of Interstate 55, Interstate 80 and Route 59, the remaining parcels for the project — 184 acres — will have staggered closings until the end of the year. The approximately $1 billion Bridge Street Town Centre will consist of approximately 1.7 million square feet of upscale shops, big-box retail stores, and a variety of restaurants; a 66,000-square-foot upscale movie theatre; 96,000 square feet of Class A office space; at least two hotels; and a variety of residential unit types. Groundbreaking for the development is projected for early 2009, with completion slated for 2010.
MISSOURI CITY, TEXAS — SDI Realty Management has acquired an approximately 20-acre site located at the corner of Murphy Road and Highway 6 in Missouri City for redevelopment. The existing hospital and professional office building will be razed, and the site will be redeveloped into a retail center anchored by Lowe’s Home Improvement Warehouse. Keith Lloyd and Sam Sheff of the Houston office of Grubb & Ellis, along with Kirk Guilanshah of System Executive Real Estate, represented the land seller, Memorial Hermann.
RIALTO, CALIF. — National Exchange Advisors LLC and Millennium Development Partners LLC have broken ground for the construction of The Shoppes at Creekside, a neighborhood shopping center in Rialto. Located at the corner of Riverside Avenue and the 210 Freeway, the 76,000-square-foot property will feature a variety of tenants, including Fresh & Easy Neighborhood Markets, Walgreens, Alta Vista Credit Union, Chevron and Corky’s Kitchen & Bakery. Pierce/Cooley Architects Inc. provided architectural services for the project; Murrieta, Calif.-based Darcon Builders is serving as general contractor. Completion is slated for February 2009.