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Shopping Centers Today -> December 2003
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REGION IN BRIEF
QUEENS CENTER EXPANDING
The Macerich Co. is expanding its Queens (N.Y.) Center from 620,000 square feet to 1 million square feet. The expansion, which will open in phases next year, is 73 percent leased. The Body Shop, Coach and Limited Too are among the new tenants. Aldo Shoes, H&M and others will expand their existing stores there.NYC TO GET LIFESTYLE CENTER
Atco Properties & Management will break ground next month on what it calls New York City’s first lifestyle center, The Shops at Atlas Park, in the Glendale section of New York City’s Queens borough. The 275,000-square-foot center, which the developer expects to complete in March 2005, will have 60 stores and restaurants and 110,000 square feet of office space.HOME DEPOT HITS MANHATTAN
The Home Depot will open its first store in New York City’s Manhattan this summer, a two-level, 108,000-square-foot unit. The chain now has 75 stores in the New York City metropolitan area.NATIONAL REALTY PLANS PROJECTS
National Realty & Development Corp. plans to build nine East Coast centers over the next two years, totaling 2.2 million square feet. They include the 100,000-square-foot Commons, Phillipsburg, N.J.; the 242,000-square-foot Hadley Center II, South Plainfield, N.J.; and the 258,000-square-foot Rockaway (N.J.) Center. The new centers will bring Purchase, N.Y.-based National Realty’s portfolio to 16 million square feet.WAL-MART CLOSES IN ON BIG APPLE
Wal-Mart broke ground on its closest units to New York City yet: a discount store and a Sam’s Club in Secaucus, N.J., less than 10 miles west of Manhattan.ROCKWOOD OPENS MEXICO OFFICE
Rockwood Realty Associates, a New York City-based real estate investment banking firm, has opened an office in Mexico City, where it will arrange the sale of retail assets.PHILLY GETS LIFESTYLE CENTER
Stanbery Development opened The Shoppes at English Village, a lifestyle center in Horsham, Pa., 25 miles north of Philadelphia. Ann Taylor, Banana Republic and Coldwater Creek are among the tenants at the 104,500-square-foot center, which was built by Jeffrey M. Brown Associates.CONN. POWER CENTER OPENS
CBL & Associates opened the Waterford (Conn.) Commons, a 354,686-square-foot, hybrid, power-lifestyle center about 45 miles east of New Haven. Boston-based Samuels & Associates and Newton, Mass.-based Packard Development, were partners in development. The anchors include Best Buy, Dick’s Sporting Goods and Michaels.INLAND BUYS CONNECTICUT CENTER
Inland Retail Real Estate has bought the Naugatuck Valley Shopping Center, Waterbury, Conn., from Starwood Ceruzzi Naugatuck for $49 million. Linens ’n Things, Stop & Shop and Wal-Mart anchor the center.GROUND BREAKS ON MASS. CENTER
C. Talanian Realty Co. broke ground on the 160,000-square-foot South Cape Village, Mashpee, Mass., about 70 miles southwest of Boston. A Roche Bros. supermarket and a Marshalls will anchor the center, which Finard & Co. is leasing. Tenants are expected to begin opening in May.CARLISLE, PA., BEGINS STRIP CENTER
Olympic Realty & Development Corp. has broken ground on Radio Square, Carlisle, Pa., about 20 miles west of Harrisburg. A Home Depot and a Ruby Tuesday restaurant will anchor the 125,000-square-foot strip center, which New York City-based Olympic Realty expects to complete in the summer.Shopping Centers Today
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