WS Development will develop a 500,000-sq.-ft. outlet project in Cheshire, Conn.
The upscale open-air center will include dining and entertainment components, open public space, recreational amenities, a residential component and a full-service grocer.
WS Development plans to start construction in early 2014, with opening scheduled for the summer of 2015. The project will create an estimated 400 construction jobs and 1,100 permanent jobs and will bring in approximately $1.6 million in annual property tax revenues.
“The decision to build a destination outlet center is in large part due to the very strong retail interest in the project and the success of outlet centers today,” said Mark Roberts, senior vice president of leasing with WS Development, in a statement. “With its convenient highway location and super regional access, the project is perfectly positioned within the state for outlet retail.”
Biltmore Square Mall in Asheville to Become an Outlet Center
A joint venture of Tremont Realty Capital LLC and New England Development will redevelop Biltmore Square Mall in Asheville, N.C. into Asheville Outlets, a 325,000-sq.-ft. outlet center.
The center, located 80 miles away from the nearest competing outlet property, will feature an open-air design. Tremont Realty and New England Development plan to open Asheville Outlets in 2014.
Biltmore Square Mall was completed in 1989.
“When we acquired this property in 2010, our market studies confirmed that an outlet mall would work well in this location,” said Richard Gallitto, executive director of Tremont, in a statement. “Partnering with New England Development makes ultimate sense, as we are both Boston firms that share a common interest in high quality development.”
Sabre Real Estate to Handle Chocolate Works’ Expansion in New York Metro Area
Chocolate Works appointed Sabre Real Estate Group LLC as its exclusive broker for franchise expansion in the New York metropolitan region.
The retailer plans to open several hundred stores in the next several years, including approximately 25 stores on Long Island. It is looking for locations ranging from 1,800 sq. ft. to 2,500 sq. ft.
Scott Sher, Melissa Batista and Greg Batista will handle this assignment on behalf of Sabre.
CBRE|Richmond Becomes Leasing Agent for Stony Point Shopping Center in Virginia
CBRE|Richmond has been appointed as the leasing agent for Stony Point Shopping Center, a 115,021-sq.-ft. shopping center in Richmond, Va. The center currently has 18,200 sq. ft. of available space. Martin’s grocery, Einstein Bagels, Frank’s Pizza and Toys That Teach anchor the property.
Rob Black and Will Donovan will handle this assignment on behalf of CBRE|Richmond.
Other Notable News
Northshore Care Supply signed a lease with Giftco Building LLC for an 86,000-sq.-ft. space at 1200 Barclay Blvd. in Buffalo Grove, Ill. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham, of CBRE, represented the tenant in the transaction. Joel Friedland and Steve Stone, of Newmark Knight Frank, represented the landlord.
SRS Real Estate Partners hired Bob Taylor as senior vice president in its New York office. In his new position, Taylor will be responsible for tenant and landlord representation. He has more than 25 years of experience, including previous stints at SRS. Most recently, he was with Cassidy Turley.
Marcus & Millichap Real Estate Investment Services appointed Craig M. Fuller as director of the firm’s national retail group and net leased properties group. Fuller joined Marcus & Millichap in June 2008. He specializes in the sale of retail investment properties throughout the Midwest, with a special focus on Ohio and Pennsylvania.
Frew Development Group appointed Lisa Rowe as general manager of the Westdale Mall in Cedar Rapids, Iowa. In her new position, Rowe will be responsible for the management, operations and marketing of the property and will act as a tenant and community liaison. She has more than 20 years of experience in shopping center management and marketing. Previously, she worked as director of marketing and business development for Lindale Mall in Cedar Rapids.