WOODBURY, MN-Work has started on the SuperTarget-anchored retail center here called Commerce Hill. The 287,000-square-foot complex will have the anchor, plus a number of retailers in smaller surrounding buildings on 40 acres on Woodbury Drive between Commerce Drive and Tamarack Road.

The development is going after a couple of hiccups. The City Council denied the project in June 2008, but approved it four months later after site owner JMW Development LLC agreed to pay more than $5 million for infrastructure and road improvements. Then Target itself held up the construction due to the economy, but decided to move forward on the store, the second in the city. Also, JMW has paid about $1.6 million in required taxes, said Paul Maenner, principal of the Minneapolis-based JMW.

He tells GlobeSt.com that Target has since bought the property its store is going on. The sale was reported as about $5.3 million. It will cost about $15 million to build the 177,000-square-foot store, Maenner says.

The rest of the property will consist of small restaurants, a bank and a drugstore, if things go well, Maenner says. “Interest has been predicated upon the breaking ground announcement,” he says. ‘Now that they know it’s a real live project, that has triggered interest.”

He says there haven’t been a lot of new developments anywhere in the Twin Cities, mirroring the rest of the country, but what has been done is usually a site that has all the fundamentals. “Retailers are being cautious about what they move into,” Maenner says. “There are some companies that want to expand, and there are infill opportunities out there, but there has to be some compelling reason to act on these sites. You have to be fundamentally sound, or you can’t attract financing.”

CHICAGO-Inland Real Estate Corp. has signed a lease with value retailer AJ Wright to occupy 21,346 square feet at Six Corners Plaza, bringing the shopping center to 100% leased. A division of TJX Cos., owner of TJ Maxx, AJ Wright offers brand name apparel, footwear and homegoods at up to 70%off of discount and chain store prices. The store is scheduled to open in late October. Situated in the historic six corners shopping district, Six Corners Plaza’s other tenants include LA Tan, Chicago Eye Institute and GameStop.

WHEATON, IL-Little Monkey Bizness, a relatively new concept that offers an incidental coffee bar alongside a children’s play area, recently signed a lease for 7,880 square feet at Rice Lake Square in Wheaton, according to Richard Spinell, principal of Oakbrook Terrace-based Mid-America Asset Management Inc. Marget Graham and Katie Hennegan transacted the lease on behalf of the landlord, with Dan Merrion with City Point Realty representing the tenant, which is based in Colorado.

CHICAGO-Aries Capital has successfully closed a $1 million loan for an apartment complex on the North Side. Eric Jones originated the loan. The investor for the transaction was a Fannie Mae DUS Lender. The walk-up complex, built in 1929, features 19 one-bedroom units. The 10-year fixed-rate loan arranged by Aries features a 30-year amortization. As a result of this transaction, the borrower was able to cash-out a significant amount of funding to be used as an investment toward another multifamily property in the area. “While more loan transactions are beginning to take place, it is still an incredibly tight credit market,” said Jones.

ZION, IL-Essex Realty Group Inc. announced the sale of an 18-unit, garden-style apartment building in Lake County. The site is at 2711 Gabriel across from parks, a school and a golf course. The property consists of three six-unit buildings with five two-bedroom/1 bath apartments and one 1-bedroom/1 bath apartment in each building. Jim Darrow represented the buyer and the seller. The price was approximately $620,000.

KANSAS CITY, MO-A subsidiary of One Liberty Properties Inc., based in New York City, has acquired an approximately 88,248 square foot retail department store situated on approximately 7.47 acres here for an all-cash purchase price of $9 million. The property is net leased to Kohl's Department Stores Inc. through 2025 (with tenant options to extend) and is located in the Wilshire Plaza Shopping Center, which is anchored by the subject property, a Super Target and a Home Depot.

EASTLAKE, OH-Centro Properties Group said that Value King plans to expand at the Vineyards Shopping Center, just off of the Lakeland Freeway, on the southwest corner of Som Center Road (Highway 91) and Vine Street. The tenant will be expanding its 28,669-square-foot store, increasing the total store size to 44,212 square feet, with plans to open in August. Centro is the owner and was represented by Avi Abroms.

COLUMBUS, OH-Ollie’s Bargain Outlet has leased its first two locations in the Columbus market. The mid-Atlantic’s largest retailer of closeout, surplus and salvage merchandise leased 30,000 square feet in Columbus Square Shopping Center and 32,000 square feet in Great Southern Shopping Center. Kevin James and Micha Bitton in Cassidy Turley’s regional office in Columbus represented Ollie’s in leasing the locations. Terms of the leases were not disclosed. The store in Columbus Square held its grand opening on June 23. The center is anchored by a Kroger’s and includes a variety of merchandise and service retailers, as well as restaurants and entertainment.  Ollie’s will hold a grand opening in July in the Great Southern Shopping Center. The 605,000-square-foot center is anchored by a WalMart, Lowe’s and Kroger’s. Based in Harrisburg, PA, Ollie’s operates 94 stores in Pennsylvania, Maryland, Delaware, Ohio, Virginia, West Virginia, New York, North Carolina, New Jersey and Kentucky.

TROY, MI-Friedman Real Estate Group Inc. recently negotiated the lease renewal of 12,901 square feet of office space at 2800 Livernois Rd. The Landlord, Osprey-Troy Officentre LLC leased the space to Amdocs Inc., which delivers advanced business and operational support systems to their clients. Glenn N. DesRosiers represented the landlord in this transaction.