REAL ESTATE

Chestnut Hill, Mass. -- WS Capital Partners, the institutional investment arm of WS Development, announced that it has completed the acquisition of Hilldale Shopping Center, a 474,000-sq.-ft. retail center located in Madison, Wis.

Anchored by Macy’s, Metcalfe’s Market, Sundance Cinemas and Target, Hilldale Shopping Center serves the entire Madison metropolitan area, including the nearby University of Wisconsin-Madison.

South Gate, Calif. -- Primestor Development announced that Azalea Regional Shopping Center has launched construction in South Gate, Calif. The 380,000-sq.-ft. project, expected to be completed by early 2014, will include retailers, restaurants and services in a modern setting with water features, a large open-air plaza, Wi-Fi and gathering areas.

Honolulu -- Jones Lang LaSalle announced that it has been awarded the leasing and management of Hawaii Kai Towne Center, a 480,000-sq.-ft. mixed-use center located in Honolulu.

Jones Lang LaSalle's retail portfolio in Hawaii also includes Windward Mall on O’ahu, Queen Ka’ahumanu Center on Maui and the Kings’ Shops on Hawai‘i Island.

Houston -- Wulfe & Co., managing partner of Blvd Place, said that construction has started on Phase II of the mixed-use development located in The Uptown District of Houston.

Blvd Place will contain retail, office and residential components in an urban environment. This phase of the project is 60% pre-leased and will contain approximately 211,000 sq. ft. of upscale retail, restaurant and office space. The retail space will be anchored by a 48,500-sq.-ft. Whole Foods Market.

Boyertown, Pa. -- Brixmor Property Group said that Dollar Tree has opened a 9,600-sq.-ft. store at Boyertown Shopping Center, located in Boyertown, Pa.

Brixmor, based in New York City, is the owner of Boyertown Shopping Center.

Minneapolis -- Target Corp. said it will open a store in East Peoria, Ill., in March 2013.

The store will be part of the 86-acre East Peoria Downtown development. This will be the first Target store in East Peoria.

Westport, Conn. -- Charter Realty & Development said that it has arranged a 4,800-sq.-ft. lease for Panera Bread located in the Westport Plaza in Westport, Conn.  

The shopping center is anchored by Home Goods, Walgreens and Pet Supplies Plus. The deal was co-broked by RHYS commercial of Stamford.

In order to make room for Panera, Stride Rite and a nail salon will be relocated.
 

Deerfield, Ill. -- Walgreens announced plans to close more than half of the stores it is acquiring in its deal with USA Drug.

The company — which said in July it would purchase the mid-South drug store chain for approximately $438 million — confirmed it would close approximately 76 stores across the region. USA Drug operates 144 stores under the USA Drug, Super D Drug, May's Drug, Med-X and Drug Warehouse banners.