COLUMBUS, OHIO — This spring, London-based Burberry will open its first Ohio store within the 1.7 million-square-foot Easton Town Center in Columbus. The 4,280-square-foot store, which will feature an extensive collection of Burberry products, will be situated within the North District, between BCBG and Benetton. Co-developed by The Georgetown Company, Columbus-based Steiner + Associates and Limited Brands, Easton Town Center features more than 160 retail, entertaining and dining tenants.
Retail
CHICAGO — Spain-based Zara, Germany-based PUMA and United Kingdom-based Ben Sherman have signed leases within Joseph Freed and Associates’ Block 37 development in Chicago. The 280,000-square-foot retail project is 60 percent leased, with another 20 percent in final lease negotiations. Apparel retailer Zara will occupy 15,030 square feet of space on the first and second floors of Block 37, along Randolph Street; PUMA will take approximately 8,000 square feet of space on two floors at the corner of State and Randolph Streets; Ben Sherman will move into a 3,100-square-foot store on State Street. This will be Zara and Ben Sherman’s first stores in the city of Chicago. Additional tenants at the project include Muvico, David Barton Gym, Auntie Anne’s, Godiva, Sabon and Steve Madden. Terms of the leases were not disclosed.
CHANDLER, ARIZ. — Mark McGovern and Jeff Rice of CBRE Capital Markets’ San Diego Central office has originated $48.6 million in financing for Westcor, a Macerich company, to refinance two community retail centers in Chandler. The properties are Chandler Festival, a 368,000-square-foot retail center located on West Chandler Boulevard and Price Freeway, and Chandler Gateway, a 255,289-square-foot retail center located on Chandler Boulevard. Tenants for the centers include Nordstrom Rack, Ultimate Electronics, Ross Dress For Less, TJ Maxx, OfficeMax, PetSmart, The Men’s Warehouse, Oreck Floor Care, Sleep America, Hall of Frames and Foster’s Leather.
CARROLTON, GA. — In an agreement with Hull Storey Retail Group, Lowe’s Home Improvement Warehouse is putting the finishing touches on a new store on U.S. Highway 27 in Carrolton. The store will span 117,000 square feet and feature a 38,600-square-foot garden center, representing an investment of $18.5 million. Delivery of the store, which is expected to generate 175 jobs, is slated for the fourth quarter of this year.
BIRMINGHAM, ALA. — CMH Architects has entered the design phase on a 100,000-square-foot addition to the Summit Birmingham, a lifestyle center in Birmingham built in 1989. The addition includes a 50,000-square-foot building for retail and office space and a second 50,000-square-foot retail building. A 163-car parking deck, a valet parking station and outdoor dining areas are also part of the design. The project marks the property’s sixth phase.
RALEIGH, N.C. — Greenway Creekside has purchased the 60,529-square-foot Creekside Crossings shopping center from EIG Creekside for $12.82 million. The center, located at 404 E. Six Forks Rd. in Raleigh, houses Staples and Borders Books & Music. Banks A. Hunter of Hunter & Associates brokered the sale.
BURBANK, CALIF. — Santa Barbara, Calif.-based Invest West Financial Corp. and Santa Barbara Capital have acquired Gateway at Burbank, which is located at the northwest corner of Alameda Avenue and San Fernando Road in Burbank. Ralphs Grocery and CVS/pharmacy anchor the 74,391-square-foot retail center. The transaction was valued at $40.5 million and required the assumption of the existing $31.6 million loan. The seller was Bellevue, Wash.-based Lakha Investments. Marcus & Millichap represented the buyer in the transaction.
TORRANCE, CALIF. — Kyle Matthews of Marcus & Millichap’s Encino, Calif., office represented the undisclosed seller in the disposition of a Rite Aid location in Torrance. The 26,400-square-foot, net-leased property sold for $4.12 million. Additionally, Matthews represented the undisclosed buyer in the transaction.
ATLANTA — iCap Realty Advisors has secured a $1.5 million loan for the acquisition of a Bank of North Georgia in Atlanta. The undisclosed borrower’s 10-year loan has a 6.5 percent fixed rate and a 25-year amortization. Alfie Means and Bill Mitchell of iCap’s Atlanta office arranged the financing through a life insurance company.
BROOKFIELD, WIS. — CBL & Associates Properties, as owner and operator, has completed its year-long renovation of Brookfield Square, a 1.1 million-square-foot mall located at the intersection of Interstate 94 and Moorland Road in Brookfield. As part of the renovation, four new restaurants have moved into the mall, including Stir Crazy, Claim Jumper, Flemings Steakhouse and Wine Bar, and Mitchell’s Fish Market. Additionally, upscale specialty grocer The Fresh Market has opened on the periphery of the center, and Ethan Allan will open a store in January. The regional mall features 110 stores and restaurants, as well as four anchor tenants including Barnes & Noble, Boston Store, JCPenney and Sears.