"We've already built the brand here in Lahaska. Our initialproperty's about 16,000 sf," Chris Leskauskas, CEO of Peddler'sVillage Partnership, tells GlobeSt.com. "We're going to recreatethat brand and recreate that brand with footprints of 25,000 sf."Leskauskas adds that the two sites will most likely be developed byspring of 2010. He further explains that the first one should bedone by the second quarter of 2009.

"Right now we're looking at standalone centers--some of thelarger lifestyle centers. What's kind of ironic," Leskauskas notes,"is that we are ourselves a lifestyle center." Peddler's Villagefocuses on smaller boutique stores, though, without any big boxtenants. The company leases out 120,000 sf to outside retailers,and owns and operates the balance of its space for the 70-roomGolden Plough Inn, restaurants, corporate office space, andGiggleberry.

Meridian Capital Group has arranged a $20 million refinance withlender LaSalle Bank for Peddler's Village, with a 6.4% rate over aten-year, interest-only term. Israel Schubert and Mary Jane Stofikof Meridian's New Jersey office represented Peddler's Village. "Therefinancing of the Village is going to be giving us the opportunityfor growth," Leskauskas says.

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