"We're lifestyling the existing mall," Larry Feldman, CEO of the Great Neck, NY-based REIT, tells GlobeSt.com. "Barnes & Noble will be the cornerstone element of several tenants in a streetscape we're creating in front of the mall. It will flank the main entrance and include a Starbucks café. Half of the new store will be in existing space and half will extend into what is now parking space."

Construction will begin within weeks, and the store is expected to open during the first half of 2008. Feldman says the theater is under construction now and will open by holiday 2007. This phase expands the mall from 900,000 sf to one million sf.

The mall, located at the intersection of Interstate 83 and Paxton Street, was originally completed in 1969. Feldman acquired it in late 2003 in joint venture with Philadelphia-based Lupert-Adler for $17.5 million and invested more than $40 million in an opening phase of renovation and repositioning. That included a new façade, entrances, lighting and signage along with major interior upgrades.