Retail

PHILADELPHIA-By Memorial Day, the rapidly expanding warehouse grocer will open in the space at the strip center in Phoenixville, PA that was vacated last March by the Ames department store chain. Plymouth Meeting, PA-based Kramont Realty Trust recently renovated the 177,000-sf property.

ATLANTA-The deal for the 14-building, 300,000-sf, 88%-leased property on Hammond Drive is expected to close this quarter, area brokers tell GlobeSt.com. The estimated price is $15 million, or about $50 per sf.

COLUMBIA, MD-The Plaza at The Mall in Columbia prepares to welcome a new tenant as AMC Entertainment Inc. commits to opening a new theater in the retail center. The 14-screen, state-of-the-art movie complex is expected to make its debut later this year.

SOUTHFIELD, MI-Ramco-Gershenson Properties Trust acquires 75% equity interest in 342,000-sf East Town Plaza near an I-90 interchange in Madison, WI. The REIT's purchase was made with preferred stock offering money.

TACOMA, WA-The Ted Brown Music and Thea's Landing projects receive federal tax incentives from the Washington State Department of Community, Trade and Economic Development. Tacoma is the only place in the region to receive a special designation allowing for such credits.

LONDON-Shopping centres and retail outlets saw an 11.3% decrease in shopper numbers on Christmas Eve but an 8.6% increase on Boxing Day (26 December) this year compared to the same days in 2001, according to figures released by the FootFall Index.

ATLANTIC CITY-The combination of the two adjacent properties creates this city's biggest hotel/casino with more than 1,750 rooms and almost 180,000 sf of casino space.

PHILADELPHIA-The Port Washington, NY-based REIT contemplates redevelopment of an 89,000-sf former Montgomery Ward unit and other renovations for the 523,000-sf mall located on 44 acres in Camp Hill, PA. The seller is an affiliate of Connecticut General Life Insurance Co.