WELLESLEY, MASS. —Federal Realty Investment Trust has announced nine new tenants at Linden Square, a lifestyle center in Wellesley. Beacon Hill Athletic Club; Bella Sante Day Spa; Blue Tulip, a national specialty gift store; The Cottage, an upscale, family owned restaurant; CVS/pharmacy; French Lessons, an intimate apparel boutique; Magic Beans, a children’s store; National Jean Co.; and Starbucks have opened or will open in Linden Square throughout September, October and November. The new retailers join tenants including Fitness for Women, Smatterings and L&M Lock/Boston Decorative Hardware. Future retailers Roche Bros., a locally based grocery store; Head Games, a retailer specializing in women’s hats and accessories; Cold Stone Creamery; Qdoba, a fast-casual Mexican restaurant; and California Pizza Kitchen are all slated to open in 2008. Linden Square will also include approximately 21,000 square feet of office space and four residential units once the next redevelopment phase is completed. Four townhouse-style apartments will be designed with the objective of receiving LEED certification and will be targeted at low- and moderate-income residents.
Retail
HOUSTON — BMC Capital recently provided $1.7 million in financing for the acquisition of 4240 Highway 6 Retail, a retail property in Houston. The six-unit multi-tenant development is located at 4240 Highway 6. Keith van Arsdale of BMC Capital’s Houston office arranged the fixed-rate loan.
POST FALLS, IDAHO — Phillips Edison Development Co. has acquired a 50-acre land site, which is located at the northeast corner of State Highway 41 and Prairie Avenue in Post Falls, from Vision First LLC. The company plans to develop a 465,000-square-foot community shopping center on the site. The center will feature a grocery component and other large-box anchors, as well as restaurants and in-line specialty stores. Additionally, the center will anchor Vision First’s Prairie Crossing, a 184-acre planned mixed-use development. The acquisition price was not disclosed.
WEST HOLLYWOOD, CALIF. — Jonathan Ahron and David Aschkenasy of Charles Dunn Company, a partner of GVA Worldwide, represented both parties in the sale of a three-building, 9,270-square-foot retail portfolio, which is located at 624-630 N. La Cienega Blvd. in West Hollywood. A private investor purchased the portfolio from Nolaci Investments for $13.9 million. The building is occupied by Train West Hollywood, Los Angeles’ largest private gym.
SAN DIEGO — Torrey Highlands Plaza LLC has purchased Torrey Highlands Plaza, a 14,042-square-foot retail center located at 13350 Camino Del Sur in San Diego, from TH Retail Associates for $8.4 million. The two-building center is 100 percent leased to tenants including Subway, Supercuts, It’s a Grind Coffee, RE/MAX and Bank of America. Reg Kobzi, Joel Wilson, Carrie Bobb and Matt Shope of CB Richard Ellis represented the seller; Packard Realty represented the buyer in the transaction.
TARRYTOWN, N.Y. — Tarrytown-based DLC Management Corp., a national owner and operator of open-air shopping centers, has acquired a portfolio consisting of seven shopping centers throughout the Southeast. The acquisition includes Brookwood Village, located at the intersection of Peachtree and Brighton roads in Atlanta; Cobb Center, located near Cumberland Mall in Smyrna, Ga.; Greystone Village in Raleigh, N.C.; Highland Square in Jacksonville, Fla.; North Pointe in Columbia, S.C.; Peachtree Parkway Plaza in Norcross, Ga.; and Poplar Springs Plaza in Duncan, S.C.
DULLES, VA. — The retail portion of Dulles 28 Centre, a 300-acre master-planned development located at the interchange of Virginia Route 28 and Waxpool Road (Route 265) at Pacific Boulevard in Dulles, is opening in November. Lerner Enterprises and The Tower Companies, both of North Bethesda, Md., developed the lifestyle retail center portion. Target and Wegmans will anchor the retail portion.
SHELBY TOWNSHIP, MICH. — The Boise, Idaho, acquisition office of DDRS has purchased Lifestyle Center, an approximately 41,622-square-foot retail center located at 45835-45883 and 45905-45983 Hayes Rd. in Shelby Township. The property was acquired by DDRS for an undisclosed amount from an undisclosed seller.
LANCASTER, PA. — AMC Delancey Group has sold its 60,712-square-foot Quality Center Shopping Center to Waterford Realty, a Meridian Capital Group affiliate. The center, located in Lancaster near routes 30 and 896, is 88 percent leased. Quality Center tenants include Adidas, Tuesday Morning, Lemon Grass Thai and Oriental Rug. Richard Frolik of CB Richard Ellis represented the seller in the transaction. The sale price was undisclosed.
KELLER, TEXAS — Staubach Retail recently negotiated the disposition of Stone Glen Village, an approximately 27,000-square-foot retail center in Keller. The development, which is located at FM 1709 and Bourland, comprises retail shops and restaurants. Lynn Dowdle of Staubach Retail represented the seller, Keller/1709 Retail.