20C — August 28 - September 10, 2015 — ICSC PA/NJ/DE Conference & Deal Making — Shopping Centers — M id A tlantic
Real Estate Journal www.marejournal.com
S hopping C enters
CBRE represents the ownership in all lease transactions Atlantic Realty leases to Natural Foods in newly renovated Main Street Shopping Center
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1955 and is now the second oldest continuously operat- ing retail center in Delaware. Just one of the original tenants from 1955 remains: Minster’s Jewelers. Other recently signed leases include Churrascaria Sau- dades Brazilian Steakhouse, PNC Bank, Capriotti’s Sand- wich Shop, and Sports Clips. The center is now 70% leased. CBRE represented the owner- ship in the lease transactions. After starting construction in the summer of 2014, ARC con- ducted a full-scale renovation of the aging center to meet the needs of residents flocking to Newark’s vibrant Main Street corridor and the University of Delaware campus, just a few blocks away. As part of the ren- ovation, ARC rezoned a portion of the site for residential use, and sold it to Bethesda, MD- based multifamily developer The Bainbridge Companies . Bainbridge Delaware, with 220 class A full-service apartments, is under construction and will start leasing in early 2016. The $10 million renovation also included all-new build- ing facades, roofs, updated signage and landscaping, and improvements to the parking lots. A new walkway allows pedestrian access through the inline shops to the residential building and an adjacent trail. “We are proud to bring our expertise in the redevelopment and development of popular shopping centers, such as Plaza America in Reston, Virginia to new markets including New- ark, Delaware and downtown Baltimore,” said Atlantic Re- alty president David Ross . n a section of the Mid Atlantic Real Estate Journal Phone: 781-871-5298 Fax: 781-871-5299 www.marejournal.com S ection P ublisher Barbara Holyoke bholyoke@marejournal.com S ection E ditor Julie King jking@marejournal.com Shopping Centers
EWARK, DE AND TYSONS, VA — At- lantic Realty Com-
panies has leased a 17,430 s/f, two-level space in its newly renovated 150,000 s/f Newark (DE) Shopping Center to New- ark Natural Foods Co-opera- tive. The co-op also operates a café in its space at 230 East Main St. Newark Natural Foods is the latest tenant in the recently renovated center, owned by a partnership of Tysons-based Atlantic Realty and New York- based Angelo, Gordon & Co. The center opened its doors in
Newark (DE) Shopping Center
ARCHITECTS AND LAND PLANNERS
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