Retail

BERKELEY TWP., NJ-The owner of Berkeley Plaza is preparing to launch an $8-million expansion (to almost 107,000 sf) and renovation that includes Shop Rite replacing a shuttered A&P as anchor tenant.

SAN ANTONIO-Spigel Properties, a recognized turnaround specialist, is working out the details for its newest acquisition, the Westlakes Mall in San Antonio. The property, anchored by Target, is shouldering a 50% occupancy.

MIAMI-The 61,200-sf building in West Palm Beach, FL, was sold to St. Anthony's Building Partnership, which plans either to convert the asset into a skating rink or lease it out as office or call-center space.

MIAMI-The Bloomfield Hills, MI-based REIT now owns 100% interest in the 1.3-million-sf value mall. The deal, valued at approximately $97 million, involved $94.5 million in debt and $2.3 million in peripheral property.

RANCHO MIRAGE, CA-Developer J.H. Snyder Co. obtains $41-million construction take-out loan for the recently completed, 240,000-sf retail and entertainment center. The lender was Sonnenblick-Eichner Co.

PHILADELPHIA-The home-grown grocery chain buys 3.5 acres at the 86-acre former Quartermaster Depot. This gives Philadelphia Industrial Development Corp.'s plans to convert the excess military asset to retail a big boost and

PHOENIX-With the highest number of vacant big boxes in the West, the Valley is fertile ground for discount retailers looking to tap middle-class dollars. Discounters are finding some sweet deals in the metro's upscale neighborhoods.

CHICAGO-New Jersey-based Chelsea increases its presence in the Upper Midwest with the acquisition of two outlet malls, one in the Twin Cities market, another that serves the Milwaukee and Madison metro areas.