CHULA VISTA, CALIF. — Aliso Viejo, Calif.-based Shea Properties is developing The Marketplace at Windingwalk, an approximately 104,000-square-foot neighborhood retail center located at the corner of EastLake Parkway and Birch Road in the Otay Ranch community of Chula Vista. The company recently signed five major leases for the center with a total consideration of approximately $45 million. The leases include a 55,985-square-foot Vons Supermarket, a 35,000-square-foot In-N-Out Burger, a 5,000-square-foot Bank of America location, a 4,500-square-foot Wells Fargo Bank, and a 5,109-square-foot Oggi’s Pizza & Brewing Co. Completion for the center is slated for this summer. The center is located at the gateway to the village of Windingwalk, a 2,300-unit residential community being developed by Brookfield Homes and Shea Homes.
Retail
SMYRNA, TENN. — Jacksonville, Fla.-based Capitol Development International is building Gateway Centre, a $30 million, 260,000-square-foot shopping center in Smyrna. The center will include a 105,000-square-foot JC Penney department store, slated to open in fall 2009, along with additional retail, restaurants and service businesses. The property is located at the intersection of Sam Ridley Parkway and Wolverine Drive. Construction is slated to begin in May and complete in August 2009.
KNIGHTDALE, N.C. — Charlotte, N.C.-based Crosland is developing Midtown Commons, a 30-acre, 225,000-square-foot retail center located at the intersection of Knightdale Boulevard and Hinton Oaks Boulevard, near the Interstate 540 and Highway 64 interchange, in Knightdale. Phase 1 will include 235,000 square feet of retail space. The property will be anchored by Kohl’s, Best Buy, Dick’s Sporting Goods, T.J. Maxx and PetSmart, as well as 17,322 square feet of additional retail shops and two outparcels. Construction is projected to begin this month, with the first stores opening in November.
OVERLAND PARK, KAN. — Chattanooga, Tenn.-based CBL & Associates Properties has announced the Barnes & Noble will join the tenant roster at Oak Park Mall, a 1.6 million-square-foot regional mall located in Overland Park. The two-story, 35,000-square-foot bookstore will be located near the mall’s main entrance next to Rainforest Café. Construction is currently underway and scheduled for completion in the fourth quarter.
NEW YORK CITY — David Johnson and Alan Miller of Eastern Consolidated have negotiated the $12 million sale of a four-building package located in the High-Line district in Manhattan, New York City. Located at 197-199 Tenth Ave., the property allows for approximately 25,000 buildable square feet with 50 feet of frontage. The buyer, Peter Moore of PMA Associates, is evaluating the possibility of constructing a boutique hotel, a condominium or both with high-end retail on the ground floor. Eastern Consolidated procured the buyer, and the seller, the Wynne Family, represented itself in the transaction.
MINEOLA, N.Y. — Harold D. Baker & Co. has arranged $5.5 million in financing for a CVS ground lease in Mineola. The leased property is a 1.31-acre site at the intersection of Jericho Turnpike and Roslyn Road. CVS plans to construct a 12,900-square-foot building on the property. The loan was funded by RiverSource Life Insurance Co.
ORLANDO, FLA. — TIAA-CREF’s Charlotte, N.C., office will build a 7,500-square-foot Sweet Tomatoes Restaurant in the Crossroads Shopping Center at Lake Buena Vista, located along S. Apopka-Vineland Road, in Orlando. The restaurant is projected for completion in fourth quarter 2008. Nick Boehme of CB Richard Ellis’ Orlando office will serve as the owner’s representative and oversee site modifications and construction. Dave Kreinest of CB Richard Ellis’ Jacksonville, Fla., office and Brit Christian of the Orlando office also negotiated the project management deal.
GADSDEN, ALA. — Atlanta-based RCG Ventures has acquired East Side Plaza, an 85,196-square-foot shopping center in Gadsden. The property is anchored by Fred’s discount store, Burke’s, Dollar General and Food World, which is separately owned. Also, Tractor Supply has signed a lease with RCG.
JOLIET, ILL. — A partnership between Los Angeles-based O&S Holdings and Hollywood, Fla.-based Strategic Retail Development has announced plans to develop 314 acres into a 1.27 million-square-foot mixed-use development called Bridge Street Towne Centre. The site is located at the intersection of interstates 55 and 80 in an unincorporated area of Joliet. The project will contain retail space, restaurants, a hotel and a movie theater. It is being designed by Baltimore-based Development Design Group.
JOLIET, ILL. — A partnership between Los Angeles-based O&S Holdings and Hollywood, Fla.-based Strategic Retail Development has announced plans to develop 314 acres into a 1.27 million-square-foot mixed-use development called Bridge Street Towne Centre. The site is located at the intersection of interstates 55 and 80 in an unincorporated area of Joliet. The project will contain retail space, restaurants, a hotel and a movie theater. It is being designed by Baltimore-based Development Design Group.