McLean’s Chesterbrook Shopping Center has changed hands for the first time since the early 1980s.
After managing the property for almost two decades, Federal Realty Investment Trust has now acquired the 89,625 square-foot shopping center at 6244 Old Dominion Drive for $32.1 million, the real estate brokerage firm KLNB announced on Friday (May 7).
The entire transaction took less than four months to complete, according to a press release from KLNB, which represented the previous owner, Chesterbrook One LLC.
First 4 of 6 new tenants open at this longtime shopping center - pennlive.com
Kline Plaza at South 25th Street in Harrisburg. January 14, 2021. Dan Gleiter | dgleiter@pennlive.com
HLCO which stands for Higher Level Community Outreach will open in an upstairs space at Kline Plaza. HLCO is expected to open next month in space 60.
"This is a very special program catered to motivate, mentor and develop educational opportunities for disadvantaged, homeless and at risk youths," Kevin Nassimi, vice president of leasing at Nassimi Realty said in an e-mail.
Value Retail Switches On Virtual Shopping, and Sees Village Sales Soar
The decision was also unusual because, unlike other large multibrand retailers, Value Retail has no e-commerce channel — and doesn't want one.
But the move was a winner: Virtual shopping allowed Value Retail to drive sales throughout the pandemic when the village shops went dark, and it has become a pillar of the business.
"Value Retail has evolved owing to the pandemic," said Scott Malkin, its founder. He said the company's mission is to inspire brands "to deliver the magic," so when that was no longer possible to do in a physical format, Value Retail shifted to digital.
Costly Mistakes People Make While Grocery Shopping
Cut grocery costs by simply shopping on the right day of the week. "We all get into a routine and often hit up our stores around the same time weekly," said Tracie Fobes of Penny Pinchin' Mom. "Make sure that you are shopping at the time when you can be certain to get every deal the store offers."
Heading to the supermarket without a grocery list is a recipe for overspending. That's because you'll likely end up buying things you don't really need and forgetting things you do need. This will force you to make extra trips to the store, which will cost you time and money.
Revolutionizing Main Street: How Shopping Hubs Are Changing
El Centro, the residential and retail complex, on Hollywood Boulevard in Los Angeles, California, ... [+] has recently added Amoeba Music, the world's largest independent record store, as an anchor tenant.
What becomes of Main Street when all of its retail traffic is redirected to Dot-Com Avenue? El Centro knows.
The choice is both untraditional and natural – meaning opportunistic. Amoeba has a long history in Hollywood, but it closed shop nearly a year earlier due to the Covid-19 pandemic. By courting Amoeba to open at El Centro, developer DLJ Real Estate Capital Partners brought the comfort of nostalgia and "normalcy" to a community holed up for a year.
How To Get Your Online Shopping Habit Under Control
Being confined at home during the pandemic limits your choices, so it's no surprise that many people have turned to online shopping. After all, a smartphone, tablet or PC are a mere reach away for many.
If you're wondering why, nearly 3 out of 4 of those surveyed said that buying something on impulse during the pandemic had a positive effect on their mood — a welcome change during a trying time.
As the pandemic persisted throughout 2020, people continued spending more time online. By Oct. 1, 2020, U.S. consumers were spending an average of eight hours per day online — an uptick from the 6.45 hours people spent online before the pandemic, according to data from the National Awareness, Attitudes, and Usage Study. And more time online means more opportunities for buying things you don't need.
05/10/2021 | New Shopping Center Plans Discussed Near Route 50, 589 Intersection | News Ocean
BERLIN – County officials approved conceptual plans for a new shopping center on Route 50 near Ocean Pines.
The Worcester County Planning Commission on Thursday approved a sketch plan for Coastal Square Shopping Center, a commercial development proposed just west of McDonalds. Though a big box store is expected to anchor the project, no specific retailers have been named yet.
“They currently don’t have any leases signed,” said Jeff Harman of Becker Morgan Group.
Olson looks to revamp Pahala Shopping Center | West Hawaii Today
Merchandise is for sale at the Ka'u Coffee Mill visitor center in Pahala on Tuesday, Nov. 10, 2020. (Kelsey Walling/Hawaii Tribune-Herald)
Edmund C. Olson and Sammie Stanbro-Olson watch a blessing ceremony by The Rev. Danny and Anna Akaka after acquiring the Pahala Shopping Center. (Olson Trust/Courtesy Photo)
Edmund C. Olson sits in the koa boardroom at the Wainaku Executive Center in Hilo on Thursday, May 6, 2021. (Kelsey Walling/Hawaii Tribune-Herald)
Auto Insurance Shopping Surged During 2020 Pandemic, JD Power Finds - InsuranceNewsNet
What they found was an increasingly homogenized marketplace differentiated primarily by price. According to the J.D. Power 2021 U.S. Insurance Shopping Study, insurers' efforts to differentiate themselves in the marketplace will increasingly hinge on bringing more innovative customer solutions to market.
"The pandemic has revealed a lot about insurance shopping behaviors in 2020, as there was a significant surge in shopping activity among customers who were financially affected and many gravitated to big, well-known brands and offers for lower rates," said Tom Super, head of property & casualty insurance at J.D. Power. "The experience shines a spotlight on the need for more sophisticated acquisition and retention tools.
KLNB Arranges Sale of 89,625 SF Chesterbrook Shopping Center in McLean, Virginia |
Located at 6244 Old Dominion Drive, Chesterbrook Shopping Center has been anchored by Safeway since 1965.
Vito Lupo, Andy Stape and Jake Furnary of KLNB's investment sales team represented the seller, Chesterbrook One LLC, in the transaction. The team also worked with the buyer, Federal Realty Investment Trust, which was managing the center at the time of sale and has a long-standing relationship with the previous ownership.
Happening on Twitter
The OU has seen a rise in its student numbers over the past year, with significant demand for personal development… https://t.co/aSVakMG7rt OpenUniversity (from UK) Sun May 09 09:35:02 +0000 2021
JPMORGAN: "The global growth boom underway is creating bottleneck pressures, which have important growth and inflat… https://t.co/M6ArMY37FD carlquintanilla (from nyc) Mon May 10 22:45:42 +0000 2021
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