READING, MA-Dickinson Development, in a joint venture with Pinnacle Partners, has finalized the construction and sale of two retail condos to the Home Depot and Jordan's Furniture. The JV, Walkers Brook Crossing LLC, closed the sale of the 140,000-sf Home Depot and the 260,000-sf Jordan's in the final week of December. The 475,000-sf development, the Crossing at Walker's Brook, also includes 75,000 sf of retail space, which has been 97% leased to local and regional retailers.

The project is constructed on a landfill that Dickinson recycled in a deal with the town. The project is expected to bring in more than $500,000 annually to the town in property taxes, as well as millions in sales and income tax revenue to the Commonwealth.

"Being on a landfill with the type of construction we had, made it a very complex and expensive project," Ed Shaw, vice president of Dickinson, tells GlobeSt.com. "But it was worthwhile from both a commercial and environmental standpoint. The environmental benefits far outweigh any typical negative impact from the project."

Construction on Phase I of the $90-million project, which also included a land-leased Chili's restaurant, was started in March 2003 and completed in the fall 2004. Phase II of the development, a "lifestyle strip center", which has leased space to Staples, Linens 'n Things, Bank of America and Starbuck's among others, is slated to open in the summer.

Formed in 1980, Dickinson is a commercial real estate development and project management consulting firm that has developed more than three million sf of office parks, shopping centers, hotels and industrial buildings. Primarily focused in Massachusetts, Dickinson has developed the 125,000-sf Braintree Executive Park and the 175,000-sf Merrimac Plaza shopping center in Methuen.