Mid Atlantic Real Estate Journal — Shopping Centers — August 30 - September 12, 2013 — 25C Shopping Centers
www.marejournal.com
In the Washington Metropolitan Area Next Realty Mid-Atlantic signs LA Fitness to 40,000+ s/f
Including 20,000 s/f lease in Hanover, PA LMS Commercial Real Estate leases 28,000 s/f
Lancaster, PA — LMS Commercial Real Estate has recently arranged the fol- lowing lease transactions: Ryan Myers, CCIM , of LMS Commercial Real Estate has recently arranged the 20,000 s/f lease of 100 Eisen- hower Dr., Hanover, PA. The tenant will use the property for automobile services. Ryan Myers represented the land- lord in the transaction. Wilay Boensch of LMS Commercial Real Estate has recently arranged the 4,900 s/f lease to RecoverCare at Eisenhower Blvd., Harrisburg. The 122,035 s/f neighborhood retail center is located in a high traffic area with easy, signalized access from Eisen-
hower Blvd., which is located off interchange for Rtes. 283 & 441. The site offers a mix of retail, office and warehouse space. The landlord was rep- resented by, LMS Commercial Real Estate, Wilay Boensch and the tenant was repre- sented by, PointLine, Inc. , Brian Ritchie. Ryan Myers, CCIM , of LMS Commercial Real Estate has recently arranged the 3,900 s/f lease of Children’s Dental Health Associates at 2820 Whiteford Rd., York. The dentistry will move into the former Talbot Center located across the street from the York Galleria Mall. Ryan Myers represented the tenant in the transaction. n
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ashington, DC — Next Realty Mid-Atlantic an-
Pittsburgh, PA — BIG Shopping Centers USA (BIG USA), M&J Wilkow, Ltd. and CBRE announce new leases and acquisition as preliminary phase of the revitalization of The new Waterfront, a 1.4 million s/f retail, dining and entertainment destination along the river in Pittsburgh, Pennsylvania Leases have been executed for the following tenants: • Crunch Fitness, a upscale fitness club located in such premiere markets as New York City, San Francisco, Los Angeles and Miami, will oc- cupy 20,000 s/f. This will be Crunch Fitness’ first location in Pennsylvania. Crunch is a gym that believes in making serous exercise fun by fusing fitness and entertainment and pioneering a philosophy of “No Judgments.” • Burgatory, Pittsburgh’s preeminent gourmet, full-ser- vice “better burger” concept, leased 5,000 s/f. Burgatory has won Pittsburgh Magazine’s, The City Paper’s and WPXI’s “Best Burger in Pittsburgh” competition annually and is recognized by Burger Busi- ness as the “Nations #1 Burger Joint.” Additionally, Eater.com has awarded Burgatory it’s nounced that LA Fitness has signed four leases in the Wash- ington Metropolitan Area. LA Fitness is represented by George Galloway , principal, and Ray Schupp , principal, of Next Realty Mid-Atlantic in the Washington, DC and Baltimore, MD Metro areas. Three of the stores are over 40,000 s/f. LA Fitness deals include: 31,453 s/f store at Bowie Town Center, Bowie, MD. LA Fitness will occupy the former Bed Bath & Beyond space. Bowie Town Center is an open air mall, with additional an- chors including Macy’s, Sears, Safeway, Barnes & Noble, and Best Buy. 40,903 s/f store at Watkins Park Plaza, in Mitchellville, MD, LAFitness has leased the former Safeway grocery store and will anchor the shopping center. 45,540 s/f store at Davis Ford Crossing in Manassas, VA. LA Fitness will anchor
45,540 s/f store at Davis Ford Crossing in Manassas, VA
The GoldsteinGroup has leased a combined total of 18,000 s/f
the shopping center, and will occupy a former grocery store space. 48,000 s/f store at Towson Commons in Towson, MD. LA Fitness will anchor the retail redevelopment of the retail space at Towson Commons, occupying the former movie theater on two levels. Industry experts purport that the fitness club industry
ments have already surpassed $1.6 million dollars including parking lot renovations, light- ing and landscape upgrades and painting and signage im- provements. These new en- hancements will add to the vitality and success of project, which currently sees $300 mil- lion in sales and several million visitors annually. The next phases will in- clude: • Substantial remodeling of the common areas and aesthet- ics of The Waterfront • Additional retail and res- taurants • New entertainment fea- tures and amenities • Enhanced parking • New signage • New branding, marketing and special events “We felt thatwith the strength of The Waterfront and the team we have assembled, TheWater- front will excel and be elevated to the next level,” said Martin Sweeney, VP acquisitions, M&J Wilkow, Ltd. Herky Pollock , executive vice president and northeast director with CBRE’s Retailer Services Group, along with Lisa Acquaviva , vice presi- dent at CBRE, have spear- headed leasing efforts. n is poised for significant growth in coming years. The growth is driven in part by the increas- ing number of Baby Boomers and also the heightened health conscious Millennials. “LAFit- ness is an appealing anchor for a variety of retail centers, they are a credit tenant, and the drive a great deal of traffic at all times of day,” said Gal- loway. n
CBRE complete leases and acquisitionin PA highly acclaimed “38 Essential Burger Restaurants” across the country.
Marine View Plaza
• Charming Charlie, an award-winning fashion acces- sories retailer that has won many awards for leading a retail revolution, will take 6,500 s/f. With over 250 stores in the United States, Charm- ing Charlie specializes in all of the latest trends and fabulous affordable fashions that keep women coming back again and again. The Waterfront will shortly announce another phase with seven new tenants totaling more than 57,000 s/f, for a total of 10 new tenants and approxi- mately 90,000 s/f. Additionally, the ownership of The Waterfront is purchas- ing the former Fuddruckers building along Waterfront Drive overlooking the river in order to clear the way for an- other phase of future growth. This, coupled with the addition of two new hotels, Hampton Inn and Holiday Inn Express, bolster the hospitality options (including Marriott Courtyard) at The Waterfront. These changes mark the preliminary phase of The Wa- terfront’s new enhancement project. The capital improve-
PARAMUS, NJ (AUGUST 19, 2013) – The Goldstein Group announced today that it has leased a combined total of 18,000 s/f in Hoboken at Marine View Plaza in three different transactions. Vice president Lew Finkel- stein, Matt Flath, and Jesse Finkelstein of The Goldstein Group represented the Land- lord, Ivy Equities, in all three deals. Integrated Women’s Health signed a lease for 10,822 s/f of ground floor retail space facing Hudson St. The second lease consum- HAMPTON ROADS, VA — Marcus & Millichap Real Estate Investment Services has announced the sale of Jiffy Lube #132 and Jiffy Lube #2935, located in Hampton and Virginia Beach, respectively, according to Bryn Merrey , regional manager of the firm’s Southern Virginia office. Mi- chael Early , VP investments and Matthew Greenspon ,
mated by The Goldstein Group was with Work It Out for a 2,534 s/f retail space facing River St.. Offering class-based fitness programs, Work It Out is growing to its second location in Hoboken and is currently under construction. Once open, Work It Out will offer classes including: Ride, Zumba, Barre, Bands, Inter- val Training, Pilates, Toning and more Finally, a lease was recently completed with Wells Fargo Home Mortgage for 4,630 s/f on the fourth floor of Marine View Plaza. n associate director of Marcus & Millichap’s National Retail Group, had the listing to mar- ket the property on behalf of the sellers. The assets were sold to in- vestors seeking passive yields allowed by the lease structures; Greenspon and Early have transacted eight Jiffy Lube units in three states in the trailing 12 months. n
Marcus & Millichap arranges sale of two net-leased Jiffy Lube Properties
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