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Lease Signings
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Lease SigningsRipco Real Estate Corp. (610-834-8000) negotiated two long-term leases valued at more than $7 million for Cost Less Home Stores. The retailer will open a 24,000-sq.ft. freestanding location next month at MacArthur Road and Grape Street opposite the LeHigh Valley Mall in Allentown, PA. A fall 2000 opening is scheduled for a 20,000-sq.ft. location in the Golden Triangle Shopping Center, anchored by Staples and Marshall’s, in Lancaster, PA. Cost Less is a division of Lechter’s, a 550-unit chain of housewares stores
Winbrook Realty Group, Inc. (212-643-8080), manager of Botany Plaza in Clifton, NJ, leased 4,800 sq.ft. on the upper level of the shopping center to Discount Depot. The ten-year lease brings the center to 100% occupancy. Botany Plaza is anchored by Big Kmart and Pathmark.
The Rappaport Companies (703-641-9103) signed leases with Fashion Bug, Dollar Tree and Radio Shack for space in a 25,000-sq.ft. expansion of the Mount Airy Shopping Center in Mount Airy, MD. The signings follow the announcement of Wal*Mart’s purchase of a 14-acre parcel in order to build a 103,006-sq.ft. store at the shopping center site.
Glimcher Group (412-765-3333) added to the tenant mix at the Lincoln Knolls Plaza in Youngstown, OH with recent lease commitments from Home Savings & Loan and Dollar General.
Sansone Group (314-727-6664) negotiated leases in St. Louis, MO: Rite-Way-To-Rent took 3,000 sq.ft. at Mullanphy Gardens Shopping Center; The Tully’s Nightclub, Inc. leased 4,470 sq.ft. at Ronnie’s Plaza; and POE Document Center took 2,574 sq.ft. at Barrett Station Shopping Center.
Macerich Company (310-474-2785), owners and operators of Westside Pavilion in Los Angeles, CA, negotiated leases with Sephora, TomKid and Coffee Bean & Tea Leaf. All three retailers expect to open during Fall 2000. Westside Pavilion, a 750,000-sq.ft. project, is anchored by Nordstrom and Robinsons-May.
Ramco-Gershenson Properties Trust (248-350-9900) signed a lease with Publix Supermarkets to build a 51,420-sq.ft. store at Sunshine Plaza, a 250,000-sq.ft. community shopping center in Tamarac, FL. Publix’s existing 37,000-sq.ft. store will be demolished to make way for the new supermarket, which is spearheading an exterior renovation of the center.
SCE Shopping Centers, Etc. (407-830-0778) leased 4,000 sq.ft. to Rent Rite at South Trail Plaza and 1,200 sq.ft. to Shanghai Chinese Restaurant at Vista Willa Shopping Center in Winter Springs, FL.
AmCap Properties, Inc. (303-321-1500) negotiated leases throughout the Denver, CO metro area: Sylvan Learning Center is committing to 4,456 sq.ft. and Panda Express is taking 3,000 sq.ft., both at Standley Lake Marketplace in Westminster; Starbuck’s leased 1,800 sq.ft. at North Park Plaza in Westminster; Book Swap will occupy 836 sq.ft., Gotta Go Wireless took 375 sq.ft., and TGF Haircutters leased 1,500 sq.ft., all at Market Square in Arvada; E&A Liquor leased 2,016 sq.ft., Nick N Willy’s Pizza took 1,200 sq.ft., and The Nail Salon committed to 1,048 sq.ft., all at Village at Park Centre in Westminster; New Dynasty leased 1,500 sq.ft. at Stonegate Village in Parker; Helen’s Nails took 1,200 sq.ft. at Pioneer Plaza in Colorado Springs; Dr. McCarty Chiropractic leased 942 sq.ft. at Village Center West in Highlands Ranch.
Flocke & Avoyr (619-280-2600) leased approximately 3,070 sq.ft. to 7-Eleven at 6906 Miramar Road in San Diego, CA. The 10-year lease has an aggregate rent of $1.175 million.
CB Richard Ellis/Oklahoma (918-665-3830) negotiated leases for Papa John’s to take 1,500 sq.ft. in the Cornerstone Shopping Center in Owasso, OK and Goodwill Industries of Tulsa to lease 10,953 sq.ft. in the Crosstown Business Center in Tulsa, OK.
Divaris Real Estate (757-497-2113) leased 3,628 sq.ft. to the Music & Arts Center at Crossways Shopping Center in Chesapeake, VA.
Metro Commercial Real Estate, Inc. (856-866-1900) negotiated a 10,800-sq.ft. lease for ULTA Cosmetics & Salon at Deptford Crossing in Deptford, NJ. The transaction is valued at $1.3 million.
Levin Management Corporation (908-755-2401) leased 7,900 sq.ft. at Capitol Plaza in Ewing Township, NJ to Kidspot Inc, a division of Ashley Stewart. The project is anchored by Edwards, McCory’s, Mandee, Dots and Charming Shops.
Cafaro Company (330-747-2661) signed the following leases: Aeropostale will occupy 3,745 sq.ft. at Kennedy Mall in Dubuque, IA; Regis Hair Stylists will occupy 1,067 sq.ft. at Millcreek Mall in Erie, PA; Cracker Barrel will occupy 9,984 sq.ft. and Country Inn Suites will occupy 11,710 sq.ft. at the Ohio Valley Mall in St. Clairsville, OH; Sound Advice will occupy 875 sq.ft. at South Hill Mall in Puvallup, WA.
Atlantic Realty Companies (703-760-9500) announced that upscale furniture retailer Maurice Villency will anchor Bethesda Corner at Wisconsin and Woodmont Avenues in the Bethesda, MD central business district. Villency signed a lease for 20,263 sq.ft. of space scheduled to open Spring 2001. CNM Associates represented Atlantic Realty and The Greenberg Group represented the tenant in the transaction. Atlantic Realty plans an extensive renovation of the site to yield a 60,000-sq.ft. specialty retail center devoted exclusively to upscale home furnishings and accessories. Existing tenants Parvizian Masterpieces and Richard M. Tunis Custom Kitchens will remain at the renovated center.
Goldschmidt & Associates (914-723-1616) negotiated a lease for CVS to build a 10,125-sq.ft. freestanding pharmacy at the intersection of Route 6 and Mohegan Avenue, Mohegan Lake, NY. The CVS building will be part of a new 36,000-sq.ft. retail center being developed by Celestial Capital Group, Inc., of New York City. Goldschmidt & Associates is the project’s exclusive leasing broker. The property is situated 1.4 miles east of the Cortlandt Town Center and has a daily traffic count of 22,000 cars. Goldschmidt is currently in negotiations with other retailers to fill the project, which is scheduled to open in Spring 2001. |