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Mid Atlantic Real Estate Journal — Shopping Centers — December 21, 2012 - January 10, 2013 — 11A


RINCE GEORGE’S COUNTY, MD — Tanger Factory Out- Project features 340,000 s/f of GLA & represents a private investment of almost $100m Tanger Factory Outlet Ctrs. & Peterson Cos. break ground on Tanger Outlets National Harbor P

of world-class hotels including the Gaylord National Resort and Convention Center, the largest non-gaming hotel on the eastern seaboard. Developed by Peterson Companies, National Harbor comprises 350 acres of prime real estate along the scenic Potomac River in Prince George’s County, MD. This project features 340,000 s/f of GLAand represents a pri- vate investment of almost $100 million. It is one of the largest economic development projects

Peterson Companies and will be branded as Tanger Outlets National Harbor. Tanger and Peterson will each own a 50% interest in the project and will jointly provide site develop- ment and construction super- vision services to the venture. Tanger Outlet Centers will provide management services, leasing and marketing to the joint venture. “We are pleased to begin con- struction of Tanger Outlets Na- tional Harbor in this dynamic lifestyle destination and to create new job opportunities in Prince George’s County,” said Steven B. Tanger , president and CEO of Tanger Factory Outlet Centers. n

letCenters, Inc. andP eterson Companies hosted an official Ground Breaking Ceremony to announce that construction has commenced on Tanger Outlets National Harbor. The center is located at National Harbor, the Washington, DC area’s premier waterfront resort destination which includes fine restau- rants, distinctive retail, office and residences, and a number

Tanger Factory Outlet Ctrs. & Peterson Cos. ground breaking ceremony

in the county and will create an estimated 600 jobs during con- struction and approximately 1,000 full and part-time retail jobs upon completion. The center is estimated to create

an additional $6.5 million in annual sales tax revenue for the state. The new outlet center will be co-owned by Tanger Fac- tory Outlet Centers, Inc. and

December 21, 2012 - January 10, 2013


Benderson Development acquires 209,000 s/f retail center Crampsie of NAI Summit reps seller in $10.5m sale of Cheektowaga Plaza

Shover & Gorman of Marcus & Millichap arrange $5.946m sale

BUFFALO, NY — John L. Crampsie , principal with NAI Summit , represented a major bank in the sale of a distressed property in Buffalo. The prop- erty is a 209,000 s/f retail center and had an asking price of $12 million. The property was sold to Benderson Development Company for $10.5 million. Known as Cheektowaga Plaza, the site was a former Sorrento Cheese warehouse before being converted to a retail complex. The former Walden Village Plaza covers 24 acres and sits

Marcus & Millichap Real Estate Investment Services has arranged the sale of two separate net-leased drugstores located in PA and MD. See page 14A

Anapol of Metro Commercial negotiates 45,524 s/f lease

Cheektowaga Plaza, Buffalo, NY

just across from the Walden Galleria and off the I-90 Thru- way. At various times tenants included Wegmans and its Chase-Pitkin affiliate and, briefly, Ultimate Electronics.

Burlington Coat Factory re- mains as its anchor tenant while the Olive Garden, Jared’s Jewelry and Smoky Bones an- chor outparcels closer toWalden Avenue. n

Metro Commercial ne- gotiated a new 45,524 s/f lease with Restaurant Equippers at The Point in Pennsauken, NJ. See page 15A


B est R etail P rojects & D evelopments .................17- 23A

B usiness C ard D irectory .............................................. 24A


R etail B rokerage D irectory ........................................ 25A



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