Chattanooga, Tenn. — CBL Properties is planning to redevelop a Sears building at its Hamilton Place mall in Chattanooga into a mixed-use project.
Charlottesville, Va. — O’Connor Capital Partners has opened L.L.Bean, an outdoor apparel and footwear retailer, at the Shops at Stonefield, a 265,000-square-foot shopping center located roughly two miles north of the University of Virginia in Charlottesville.
Norfolk, Va. — Simon has opened the 332,000-square-foot Norfolk Premium Outlets, bringing retailers including Banana Republic Factory, Calvin Klein, Nike Factory Store, Old Navy and Steve Madden to the Norfolk, Chesapeake and Virginia Beach areas. Located at 1600 Premium Outlets Blvd. on Interstate 64, the village-style outlet mall features covered walkways, courtyards, a fountain, fireplace, public artwork, children’s play area, indoor and outdoor dining options and a 1.3-mile walking trail surrounding Lake Wright.
Davenport, Fla. — Franklin Street has closed on the $23.4 million sale of Ovation Town Center, a 96,750-square-foot, Publix-anchored shopping center located at 7800 Lake Wilson Road in Davenport, roughly 35 miles south of Orlando. Bryan Belk and John Tennant of Franklin Street’s Atlanta office represented the seller, Armstrong Development, in the transaction. Publix Super Markets purchased the property. McDonalds, Wells Fargo, Tropical Smoothie and Anytime Fitness are among the shopping center’s other tenants.
Columbus, Ohio — Eight new tenants have signed on to open at Easton Town Center in Columbus. Fashion and accessory brands Zara, Shinola, Filson and A Pea in the Pod will open in fall 2017. MAC Cosmetics and clothing brands Soft Surroundings and Lilly Pulitzer will join the retail center this summer. A new restaurant, Condado Tacos, will also open in summer 2017. To date, Easton Town Center is home to over 200 shops, restaurants and entertainment venues.
Streetsboro, Ohio — Envoy Net Lease Partners LLC has provided a $1 million-plus loan on a corporate ground lease for a Wendy’s restaurant in Streetsboro, roughly 20 miles north of Akron. The real estate finance company, who specializes in single-tenant, net leased commercial properties, financed 100 percent of the total project cost and allowed the undisclosed borrower to retain full control and ownership of the property. Construction on the 2,565-square-foot restaurant is slated for completion Dec. 1, 2017.
Delray Beach, Fla. — The Keith Corporation has finalized plans for the redevelopment of Delray Square Shopping Center, a 150,000-square-foot retail center in Delray Beach, Fla. The center will be anchored by a new 45,600-square-foot Publix Super Market, which will replace their existing store in the center, and approximately 17,000 square feet of retail space will be available for lease. Mike Fetherston with The Shopping Center Group will handle leasing of the property. Chick-fil-A, Chipotle, Mattress One, Great Clips, Pet Supermarket and Lee’s Nails are among the development’s newest tenants. …
Charlotte, N.C. — Westwood Financial LLC has acquired The Arbors at Mallard Creek, a 55,323 square-foot, Trader Joe’s-anchored shopping center in Charlotte’s University City neighborhood. CBRE’s Mike Burkard and Casey Rosen represented the buyer, Los Angeles-based Westwood Financial, and the undisclosed seller in the $25.1 million transaction. Located at 2121 E. Arbors Drive, the property sits approximately four miles from the University of North Carolina, Charlotte and is home to tenants including Petco, Massage Envy, Hickory Tavern and Zoë’s Kitchen. The center was 98 percent leased at the time of …
La Quinta, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building occupied by TJ Maxx and ULTA Beauty in La Quinta. The 33,708-square–foot building is within Washington Park Shopping Center, which houses Target, Lowe’s, Trader Joe’s, ALDI, Stein Mart and Century Theatres. Hanley Investment Group’s Bill Asher represented the undisclosed seller in the $8.8 million transaction. Steven Gelber of Gelber Realty Corp. represented the buyer, a private investor from Los Angeles.