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CBL’s Waterford (Conn.) Commons Shopping Center is due to open in fall 2003.

CBL & ASSOCIATES BREAKS GROUND ON WATERFORD COMMONS

CBL & Associates Properties, Chattanooga, Tenn., has begun site work on the 354,872-square-foot Waterford (Conn.) Commons Shopping Center. The development is a joint venture between CBL; Samuels & Associates, Boston; and Packard Development, Newton, Mass. The grand opening is scheduled for September 2003.

Under the venture agreement, CBL is in charge of developing and constructing the center and will serve as property manager. Samuels is handling leasing.

In addition to Waterford Commons, Packard’s other projects in the region include the recently completed 260,000-square-foot Maine Crossing, South Portland, Maine, and two centers under development: a 250,000-square-foot center in Weymouth, Mass., and a 300,000-square-foot center in Greenland, N.H.

CANTON, CONN., GROUP BACKS DOWN ON BIG-BOX BAN

An anti-growth community group in Canton, Conn., Canton Advocates for Responsible Expansion (CARE), in May withdrew its proposal for a ban on building big-box retail in the town, which lies about 15 miles east of Hartford. The group, which last year was able to defeat the proposed construction of a 125,000-square-foot Target store, faced opposition from business leaders and residents who argued that the town needed the tax revenues that would come with new retail development. Following the defeat of the proposed Target, CARE had put forward a proposal to change Canton’s zoning regulations to bar new retail stores bigger than 40,000 square feet or new supermarkets of more than 60,000 square feet.

BUCKLAND HILLS MALL TO EXPAND

General Growth Properties, owner of Buckland Hills Mall, Manchester, Conn., has announced plans to renovate and expand the 1 million-square-foot shopping center. A Barnes & Noble bookstore and more fashion, home furnishings and dining options will be added to the complex, which lies about eight miles west of Hartford. The expansion is expected to be complete by fall 2003.

STARWOOD, KONOVER COMPLETE NAUGATUCK VALLEY MAKEOVER

Starwood Ceruzzi and Konover Construction have completed a $17 million, two-year renovation of the Naugatuck Valley Shopping Center, Waterbury, Conn. The project included demolishing the old Naugatuck Valley Mall and building a new center on the 52-acre site. The center will be anchored by a 145,000-square-foot Wal-Mart to open later this year. To celebrate the project’s completion, the developers held a ceremonial reraising of the old mall’s flagpole. The original center opened in 1969.

SUN REALTY FINANCES $10.5M FAIRFIELD, CONN., RENOVATION

Sun Realty Associates closed on a $10.5 million financing deal to help pay for recent improvements it completed on the Black Rock Shopping Center, Fairfield, Conn. L.J. Melody & Co., Houston, arranged the deal. The 99,519-square-foot neighborhood center is anchored by recently completed Gap and Old Navy stores. The 80,000-square-foot main building, previously occupied by Steinbach’s, was constructed in 1965 and then fully renovated in 2000.

BOSTON’S FIRST VIRGIN STORE OPENS

New England got its first Virgin Megastore in February when the British retailer opened a 40,000-square-foot location in Boston on the site of a former Tower Records. The three-floor store cost about $10 million to build.

KOHL’S ENTERS NEW ENGLAND

Continuing its nationwide expansion, Kohl’s entered the Boston area market in late April, where it opened 13 stores in one day. The retailer also has Providence, R.I., in its sights, with plans to begin opening stores there this fall. As of late May, the chain operated 420 stores and is adding 70 more this year.

EASTERN DEVELOPMENT BUYS RIVERDALE SHOPPING CENTER

Eastern Development, Woburn, Mass., has acquired the 273,000-square-foot Riverdale Shopping Center, West Springfield, Mass., from Prudential Insurance for $26.5 million. The center is anchored by a Stop & Shop supermarket. The move is part of Eastern Development’s focus on adding grocery-anchored centers in the New England market. Overall, the company has 80 office and retail properties in its portfolio.

PROJECTS NEAR MARLBOROUGH MALL GET THE GREEN LIGHT

The Marlborough (Mass.) City Council in June gave the go-ahead to two projects next to that town’s existing Solomon Pond Mall. Construction will begin on a 126,000-square-foot Target store this summer, and in the fall work will start on a 101,000-square-foot retail center west of the mall that will house a Borders and nine other tenants. Newton, Mass.-based New England Development will oversee the projects. New England Development built Solomon Pond in 1997 and later sold it to Simon Property Group.

S.R. WEINER TURNS HINGHAM PLAZA INTO DERBY STREET SHOPPES

S.R. Weiner Associates, Newton, Mass., and affiliate W/S Development Associates are converting the roughly 500,000-square-foot Hingham (Mass.) Plaza into Derby Street Shoppes, an open-air center. Anchored by a Kohl’s department store, the new center will open in April. Other likely tenants include Ann Taylor, Banana Republic, Gap and Gap Kids. S.R. Weiner said it is also close to deals with Barnes & Noble, Coldwater Creek, J. Crew, Williams-Sonoma and Yankee Candle. The new, 435,000-square-foot center will feature pedestrian walkways, an upscale grocery store, possibly a specialty wine store and about six full-service restaurants.

CB RICHARD ELLIS TAKES ON WORCESTER COMMON OUTLETS

CB Richard Ellis has assumed the leasing and management responsibilities for the Worcester (Mass.) Common Outlets. The company wants to revive the center to appeal to a younger audience by bringing in tenants to complement its outlet store base. CB Richard Ellis is the third group in three years to take on the mall, which is owned by Cigna Investments. Jones Lang LaSalle and Chelsea Property Group previously leased and managed the property.

JOINT VENTURE PLANS UPSCALE, OPEN-AIR PROJECT FOR MANCHESTER

A joint venture of three companies has acquired 15 acres in Manchester, N.H., to build an upmarket, open-air, 160,000-square-foot community center. The partnership, called K&S Manchester Commons, is made up of Feldco Development Corp., Roslyn Heights, N.Y.; The Kalikow Group, Westbury, N.Y.; and Retail Development Corp., Simsbury, Conn. They expect to open the center next year, and it will be anchored by a 70,000-square-foot Shaw’s Supermarket.

DEVELOPERS DIVERSIFIED REALTY SELLS VILLAGE SHOPPES OF SALEM

Developers Diversified Realty, Beachwood, Ohio, and its majority-owned affiliate, Coventry Real Estate Partners, sold the 170,000-square-foot Village Shoppes of Salem (N.H.). The center was developed in 1999 by Developers Diversified, Coventry and Prudential Real Estate Investors. The shopping center is anchored by Best Buy, CompUSA, Linens ’n Things and Michaels.

PACKARD’S PLAN FOR GREENLAND, N.H. POWER CENTER APPROVED

Greenland, N.H., has approved Newton, Mass.-based Packard Development’s proposed 300,000-square-foot shopping center on the 56-acre site of a former industrial building. No tenants have been announced for the power center, which will feature six stores in all.

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