Pine Tree announces expansion, new leases

Northbrook, Ill. Pine Tree Commercial Realty has announced a completed expansion and new retail leases for shopping centers it develops and manages in Colorado and California.

In Westminster, Colo., a suburb of Denver, Pine Tree recently completed construction of 32,200 sq. ft. of new retail space at the Shops at Walnut Creek, a 410,860-sq.-ft. shopping center that the firm acquired in partnership with Newport, Calif.-based Buchanan Street Partners when the center was nearing completion in 2007.

New retailers that opened in April in the expanded space include Dollar Tree, Famous Footwear and Pacific Dental. The center is anchored by TJ Maxx, HomeGoods, OfficeMax, PetSmart, Golf Galaxy and shadow-anchored by a separately owned Super Target.

In San Ramon, Calif., on San Francisco's East Bay, Pine Tree signed two new leases to Gateway Center, a 110,440-sq.-ft. community center it co-owns and leases/manages for a state pension fund being advised by Henderson Global Investors of London. The new leases include Papa John's Pizza for 1,069 sq. ft. and Medifast Weight Control Centers for 918 sq. ft.