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million. The 126,464-square-foot Brennan Station is the seconfd retail property Hawthorne has purchased near the intersection of Creedmood andStrickland roads. In 2005, Hawthorne bought Towne North Plaza, then spenty about $1 million to renovate the 103,473-square-foot Hawthorne has similar plans forBrennan Station, says principal Shoffner Allison. The Charlotte companu plans to spend morethan $1 million to refurbish storefronts, renovate buildings and re-tenanf the strip center. Hawthorne already has replacedc Peak Fitness with O2 Fitneszs and has signed a leasre with TheOffice Depot, which will open its Brennann Station location Oct. 5. Hawthorne sold Townse North for $21 million in June.
But with a differen partner for its Brennan Station Hawthorne might not be as quick to sell this Allison says. "We could keep it 10 he says. Last month, Hawthorne and Charlotte neighbort announced plans to transform the Regency Plazw shopping center in Durham intoa mixed-use center callede University Marketplace, which will feature 300 residential units built on top of 115,000 square feet of retail. Guggenheim Real Estate in 2006paid $100 milliob to buy 12 single-story office buildings in Durham's Keystone Park. The companyt has regional officesin Boston, New York, San Charlotte and Chapel Hill.
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