ICSC DEAL MAKING ISSUE "The Locations Newsletter" Published Twice Each Month
Vol. 36, Nos. 18 & 19
Box 837 Nyack, NY 10960 Murray Shor - Editor & Publisher
(845) 348-7000, (800) 211-6858
September 22, 2008
$349 per year
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• Recognized brands • Repeat, loyal salon traffic • Financial strength
1-952-947-7777 • www.regiscorp.com
J218 9/22/08 Send submissions to realestate@regiscorp.com.
(845) 348-7000 • A partnership that delivers success
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
Over
6300
locations ...and growing strong. CVS/pharmacy is looking to add to our existing store fleet via strategic growth in quality, convenient locations. Now serving our customers in 40 states and the District of Columbia.
The best locations share these features... • Prototype size is 12,900 sf with Drive-Thru Pharmacy • Minimum 1.5 acres of land to accommodate parking for 60+ cars • Highly visible with pylon sign identity • Easy access, high traffic volume and free standing Please contact us at 401-770-4310 with your site.
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NEW AND EXPANDING CENTERS OVER 501,000 SQ. FT. (Unless mentioned otherwise, all are enclosed, air-conditioned malls)
ARIZONA Surprise: Developer requesting development-impact fee cuts for a planned 1 million sq. ft. Surprise Spectrum at Asante along 163rd Ave, between Grand Ave and Pat Tillman Blvd; center to house Fry’s grocery, store, a home-improvement store, a department store, an office supply store, pharmacies, restaurants and banks; part of Asante master-planned community, which is envisioned as 14,000 homes, schools, retail and a 55-acre park; fees jumped more than 300% in some cases; developer Barclay Group (Trey Eakin), 7702 E Doubletree Ranch Rd, Ste. 220, Scottsdale, AZ 85258-2131, (480) 596-9399, Email: srosenberg@barclaygroup.net. CALIFORNIA Carson: A second phase of construc-
tion now underway on 1 million sq. ft. SouthBay Pavilion at Carson on 71.3 acres at SE corner of Del Amo and Avalon Blvds in Los Angeles County (See SCD, P. I101); Sears, Target, JCPenney, Ikea, and Maric College; 81 stores; parking 4458 cars; opened ‘73; population 1.78 million within 5
didja hear...??? New Albany, OH-based specialty retailer Tween Brands Inc will convert 560 Limited Too stores to its more value-oriented Justice nameplate by May ‘09, expanding to more than 900 stores catering to girls ages 7 to 14...Mervyn’s is suing its former private-equity owners—Cerberus Capital Management and Sun Capital
Strolling the AGORA
By Murray Shor This has not been a great year for the great majority of dealmakers in this industry, to say the least. However, speaking to leading landlords, tenants and brokers directly involved with leasing and development— admittedly an historically optimistic group —things, many are certain, “will be much better in 2009.”
TABLE OF CONTENTS New and Expanding Shopping Centers Over 501,000 Sq. Ft. ............................. J195 Strolling the Agora ................................... J195 Didja Hear??? ............................................ J195 Financial/Sales Results ........................... J202 New And Expanding Shopping Centers 201,000-500,000 Sq. Ft. ........................ J200 New And Expanding Shopping Centers Up to 200,000 Sq. Ft. ............................ J206 Upscale, Specialty, Lifestyle, Mixed-Use, Entertainment ........................................ J208 Centers With Lease Space Available .................................... J211 Retailers Seeking Space .......................... J212 Classifieds ................................................. J214
miles; average household income $49,501; developer General Growth Properties, Inc (Carol Reynolds),100 W Broadway #700, Glendale, CA 91505, (818) 459-6817, Email:carol.reynolds @ggp.com . Cerritos: Nordstom to open a larger (continued)
Whichever major political party wins the presidential election in November, they are confident the winds of change will fill the sails of our retail flagships to power us to an improved economy, better store sales, and many new leases signed. (Hmmmm, talk of purple rhetoric). With only so-so back-to-school sales helping to slow the process of expansion for the rest of the year, dealmakers see delayed openings of new shopping centers into next year a chance to get those projects fully leased up for spring openings. “When open, they should be producing great sales from Day One,” said one developer. Some landlords concede that the time required to process deals—by them, governmental agencies, financial investors, and various tenant committees—has escalated to a point that some leases have “died on the vine.” Simplify Wordage In Leases “There’s no reason,” said one top developer, “that if our leasing representatives and in-house staff are not (continued)
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
Partners—charging they stripped it of valuable real estate, nearly doubled its rent and forced it into Chapter 11 bankruptcy protection; the defendants bought the discount chain from Target for $1.26 billion in 2004...Michael Singh has joined Jones Lang LaSalle as West Coast managing director; previously, Singh was with Goldman Sachs Commercial Mortgage Capital...Mrs. Fields’ Original Cookies, which filed for bankruptcy protection on Aug 24, days later received approval from the courts on all its motions to emerge from Chapter 11... Although its name will live on in outlet malls, Wilsons Leather, says it is going out of business and will close its remaining 100 mallbased stores by October... Bankruptcy judge approves $163 million acquisition of Steve & Barry’s apparel chain by BHY Holdings (Bay Harbour Man(continued on P. J198) RETAILERS SEEKING SPACE Page J212 • Ann Taylor and LOFT • Barnes & Noble • Boloco • Bruegger's Bagel Bakery • Chico's FAS • CVS Caremark • Einstein Noah Restaurant Group • Gap • Gilly Hicks • JCPenney • Lowe's Companies • Maid-Rite Corp • Marble Slab Creamery • Opa! Souvlaki • PetsMart • Rainbow Apparel Co • Rue21 • Staples • Urban Outfitters, Anthropologie, Free People, and Terrain
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Strolling the AGORA
(continued) working on active deals, we shouldn’t be able to use that time to simplify wordage and streamline the process to make it easier in the future.” Granted, some of the positive signs dealmakers point to may very well be due to some taking advantage of the “ill-winds” that forced cutbacks by their competitors. With the bankruptcies and store closings setting new highs, many landlords see the vacancies as an opportunity to improve tenant/merchandise mix in older shopping centers—at higher rents than that paid by tired operators who have vacated—“and offer these locations to some of the new foreign retailers who may see these sites as an ideal way to get a foothold in the US.” Speaking of “foreign,” said another landlord, with some of the larger owner-developers directing their attention off-shore, “…it’s given us a chance to acquire some malls, strips and other projects from those who are hard-pressed for funds, such as the centers from Centro Properties and smaller operators.” Some retailers see the rising number of closings and mall vacancies as an opportunity, also, to use pop-up stores to test new concepts and markets, “especially since they can be done at relatively little cost.” These are not only in major urban areas, such as Target’s move toward designer-focused pop-ups in New York with new fall merchandise. CVS And Beauty 360 CVS Caremark, for instance, based on research and sales from its traditional drugstore/pharmacies, is testing a high-end beauty concept, Beauty 360, specializing in skin-care and cosmetics; the first units will open next to stores in the Washington, DC, market and in Sacramento, CA. Ann Taylor Stores anticipates its Loft Outlet division could become an important growth center in the future; of the 66 new units opening, 25 are Loft stores and 14 are Loft Outlets. Urban Outfitters is another retailer planning to expand through new concepts, and is looking to open two or
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three new spinoffs to help its growth. Its first Terrain store—gardening and antiques focusing on the affluent baby boomers— opened in the spring; its Leifsdottir apparel is being sold through other operators, and may soon be the impetus for another retail division. Innovative apparel chain Ed Hardy had only three stores in New York and Los Angeles last year. It has opened 10 units within the past year and has many more in high-end, major markets across the country, and has “a substantial” number due to debut in 2009. There has been much “ink” poured at how luxury retailers have been hurt by the economy and how good sales have been for discounters and promotional chains such as WalMart, Target, Family Dollar, Kohl’s. Yet, upscale merchants like jeweler Tiffany’s recorded zooming profits, mostly due to foreign operations. Though Zale Corp posted a loss for its fourth quarter, results were still better than expected, and it plans to take advantage of new growth opportunities to expand north into Canada where, it says, it is receiving much higher returns on capital expenditures. Talk of “seizing the day,” with Starbucks closing some 600 stores and concentrating on foreign expansion, national and regional coffee houses—such as Caribou Coffee, Coffee Bean & Tea Leaf, Dunn Bros, etc., etc.—see this as an opportunity to capture a larger market share by opening new stores. Expanding New Prototype While on the subject of food, Sizzler, says its first new prototype in 15 years is a great success and will be opening new stores in its strong core markets in California and the West. It will also be expanding the concept east of the Rockies into such markets as Puerto Rico, Arkansas and Texas. We concede that some dealmakers find it difficult to “think positive” when faced with “negative cash flow from a couple of projects
that will ultimately be great but for now are more difficult than usual.” And some are disgruntled that they may have had to accept a joint venture partner on a well-planned, timely center that lost its initial financing. But they also get philosophical: “Fifty percent of something is better than 100% of nothing.”
Regis Plans Raze Salons For Men Regis Corp is planning an upscale men’s salon chain called Raze with the first unit, consisting of six haircutting stations in 1200 sq. ft., opening in August in Minnetonka, MN. Three or four more companyowned units will open by next year, with many more franchised stores, up to 50-60, committed by the beginning of next year. Mark Kartarik, president of Regis’ franchise division, said 500 Raze locations could be opened within the next five years, with a potential of 500-800 units in the US; the sizes would range from 1200-1800 sq. ft.
$700 Million WaterLights Planned Outside Of Houston Historic Real Estate is planning a $700 million mixed-use project on 150 acres called the WaterLights District, along Clear Creek, south of Texas Medical Center, in Pearland, 15 minutes from downtown Houston, TX. It will contain boutique retail, a row of restaurants along the river bank, residential, office and hotel facilities, a 7,500-seat enclosed area, parks and gardens. It will be developed by Richard P. Browne, who was involved with Columbia Town Center in Maryland and The Woodlands in Texas.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
(continued) 138,000 sq. ft. two-story store at the vacant Robinson's-May store in spring ‘10 at 1.28 million sq. ft. Los Cerritos Center at 605 Frwy and South St in Los Angeles County (See SCD, P. F141); there are no plans for the building the current Nordstrom's will vacate; other anchors include Sears, Macy’s, and Mervyn’s; 208 stores; parking 6708 cars; opened ‘71; population 635,194 within five miles; average household income $61,758; developer Macerich (Bob Aptaker), 401 Wilshire Blvd., Ste. 700, Santa Monica, CA 90401, (310) 394-6000, Email: bob_aptaker@macerich.com. Sacramento: Construction put on hold and completion date pushed back from fall ‘09 for 1.1 million sq. ft. Elk Grove Promenade open-air mall on 107 acres off the new Grant Line Rd interchange and Hwy 99 in Sacramento County (See SCD, P. J159); Macy’s, Target and JCPenney have pulled permits to open stores of between 120,000 and 156,000 sq. ft.; more than 100 stores; parking 5000 cars; population 450,000; developer General Growth Properties,
110 N Wacker Dr, Chicago IL, IL 60606-1116, (312) 960-5751, www. ggp.com. FLORIDA North Tampa: Anchors Dillard's and Macy's set to open Oct 30 at $105 million, 750,000 sq. ft. The Shops at Wiregrass open-air center at State Rd 56 and Bruce B. Downs Blvd in Pasco County (See SCD, P. I920); a 98,000 sq. ft. JCPenney stand-alone store already open; 60 stores will include American Greetings, Aveda, Brown Shoe Closet, Christopher & Banks, Hot Topic, Limited Too, Put a Cork In It, Williams-Sonoma and Yamato Japanese Steak House; developer Goodman Co, 777 S Flagler Dr, Ste. 1106 - Philips Point, West Palm Beach, FL 33401-6192, (561) 833-3777 and Forest City Enterprises, 1100 Terminal Tower, 50 Public Sq, Ste. 700, Cleveland, OH 44113-2203, (216) 621-6060, www.fceinc.com. The Villages: Construction continues on 1.2 million sq. ft. Buffalo Ridge at NE corner of CR 466 and Villages Campus Circle (See SCD. P. I891); a 21,000 sq. ft. The Fresh Market grocery
chain to open in Nov and a Buffalo Ridge Animal Hospital to open a 6,000 sq. ft. clinic by late summer or early fall; anchor Wal-Mart Supercenter; part of The Villages mixed-use development; leasing Crossman & Company (Scott Renick), 3309 Wedgewood Ln, The Villages, FL 32162, (352) 753-6654, Email: srenick@ crossmanco.com . Wesley Chapel: Construction continues on 1 million sq. ft. Cypress Creek Town Center open-air and power center on 510 acres at SR 56 and I-75 in Pasco County (See SCD, P. J103); anchors Super Target, Kohl’s, an 18screen, 2564-seat AMC Theaters multiplex, Books-A-Million, Staples, Sports Authority, and Circuit City; 100 stores to open fall ‘09; developer The Richard E. Jacobs Group (Ben McMillon or Scott Fatzinger) 25425 Center Ridge Rd, Cleveland, OH 44145-4122, (440) 871-4800, Email: bmcmillon@rejacobsgroup.com or sfatzinger@rejacobsgroup.com. HAWAII Kailua-Kona: Ground to be broken (continued)
36 States and Growing Strong....
Leasing Opportunities
Triangle Plaza Shopping Center Raleigh, NC
Westport, CT
Taylor Place & Jessup Road 8,000 sf next to Tiffany & Co.
1,680 sf- 3,000 sf available Best Buy, FedEx/Kinko’s Panera Bread
Main Street & Post Road 2,400 sf - 4,800 sf next to HSBC & Starbucks
Rye Ridge Shopping Center Rye Brook, NY
Brookfield, CT
1,000 sf- 6,700 sf available D’Agostino’s Supermarket, CVS, Blockbuster, Starbucks, My Lily Pad, Last Licks, JW Tumbles, Contact Opening Soon: Paper Tree
21 Federal Road 2,520 sf, In-line, Free Standing Strip Vitamin Shoppe, Omni Fitness
Marion, IL
1205 Skyline Drive 8,500 sf free standing
Food Lion Center Stephens City,VA
Ogden, UT
Matthews, NC
Development Opportunity: Louisville, KY +/– 1.1 acres
Additional Free Standing Leasing Opportunities: Harbor City, CA Jacksonville, FL Ft. Wayne, IN Fridley, MN Hutchinson, KS Raytown, MO Farmington, NM Olean, NY Warwick, RI Appleton, WI
1,180 sf–26,500 sf available (divisible) 145 North Washington Blvd. 12,000 sf, In-line Food Lion, Pizza Hut Rite Aid, Checkers Auto Dollar General, BB&T 11101 E. Independence Blvd. 8,500 sf free standing
Multi-tenant or single user
Win Properties, Inc.
Craig D. Samson T: 914 468 7300 F: 914 468 7330
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
10 Rye Ridge Plaza Rye Brook, NY 10573 E: csamson@winprop.com 9/22/08
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(continued) early next year on 600,000 sq. ft. Kona Commons on 67 acres just N of Kailua Village on the Big Island (See SCD, P. I517); anchors Target, Circuit City, Sports Authority, Petco, and Office Max; center to also include a variety of smaller shops and restaurants; opening ‘12; developer M-K Kona Commons LLC, a joint venture of Kobayashi Group and The MacNaughton Group, 1001 Bishop St, Honolulu, HI 96813, (808) 545-7722, Email: info@tmghawaii.com. IDAHO Moscow: Well drilling has begun for a proposed 714,000 sq. ft. shopping center on 204 acres on PullmanMoscow Hwy in Whitman County (See SCD, P. J171); anchors Lowe’s Home Improvement and possibly two other big-box stores; developer Hawkins Companies (Jeff De Voe), 8645 W Franklin Rd, Boise, ID 83709-1431, (208) 376-8522, Email: jdevoe@ hcollc.com. ILLINOIS Grayslake: Construction may have "The Locations Newsletter"
Tel: (845) 348-7000
Editor-Publisher ................................. Murray Shor, Ext. 201 .................. scdigest@shoppingcenters.com Managing Editor ............................ Jennifer O'Neill, Ext. 250 ........ jenniferoneill@shoppingcenters.com Circulation... .................................. Ext. 206 Shopping Center Digest (ISSN 0885-209X, USPS 112-750) is published twice monthly --except for double issues in February, April, September and December--by Jomurpa Publishing Inc at 20 N. Broadway, Nyack, NY 10960—Telephone (845) 348-7000, Fax (845) 348-7011, (800) 211-6858. Subscription is $349 per year. Periodical postage paid at Nyack, NY, and additional mailing offices. Our e-mail address is scdigestshopping centers.com. Visit our home page at www.shoppingcenters.com. Postmaster: Send address changes to Shopping Center Digest, PO Box 837, Nyack, NY 10960. Copyright © Jomurpa Publishing Inc 2002. All rights reserved. To protect its copyright, Shopping Center Digest requires subscribers to obtain written permission to reprint, not photocopy, any part of its issues. For written permission to reprint published material, contact the editor at (845) 348-7000. Legal photocopies may be made only through the Copyright Clearance Center (CCC) at 222 Rosewood Dr, Danvers, MA 01923, USA, (508) 750-8400, Fax (508) 750-4744.
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already begun on $90 million, 800,000 sq. ft. retail mall on 112 acres at former Lake County fairgrounds in Lake County; developer joint venture SKW Capital Management of Deerfield, IL and Developers Diversified Realty, 3300 Enterprise Pkwy, Beachwood, OH 44122, (216) 755-5500, www.ddr.com. NEW YORK Harriman: 102,000 sq. ft. expansion
includes a recently opened Home Goods at 400,000 sq. ft. Harriman Commons Shopping Center at Rts 6 and 17 near I-87 in Orange County (See SCD, P. H952); project to include PetSmart, Best Buy, Famous Footware and two unidentified stores; existing anchors Wal-Mart, Home Depot, BJ’s Wholesale Club, Target 124,000 sq. (continued)
didja hear...??? (continued from P. J195) agement and York Capital Management), which says it will keep most of 276 stores open...Pizza Fusion has named Mark Begelman as chief executive to expand its national franchises with plans to open 500 stores over the next 5 years; he was managing director of Woodbridge Holdings which has invested in the chain...Woonsocket, RIbased CVS Caremark Corp will acquire Longs Drug Stores Corp for $2.9 billion cash and assumed debt; the Walnut Creek, CA-based Longs chain generates approximately $5.3 billion in annual revenues with 521 stores throughout CA, HI, NV, and AZ...The 88-unit Buca di Beppo Italian dinnerhouse chain will be acquired by Planet Hollywood International Inc for $9.7 million...Tim Meyer has joined Brown Shoe Co as Senior VPFinance in its Retail Division; he was formerly with Claire’s Stores’ North American Division...Brinker International says it is selling a majority interest in its Romano’s Macaroni Grill to Golden Gate Capital for $131.5 million in cash; it will retain 19.9% interest; other Brinker restaurant brands include Chili's Grill & Bar, On The Border Mexican Grill & Cantina, and Maggiano's Little Italy...Spanish fashion chain Zara, which operates 3,900 stores worldwide, has overtaken U.S. rival, the 3,100-unit Gap, as world's largest clothing retailer...Lakeland, FL-based Century Retail has announced several promotions and appointments within its senior management team including the promotion of Charlie Bascarino to President overseeing leasing and site acquisitions, business development, and construction development, and the promotion of Braxton
Bone to VP-Development Operations; new hires include Vanessa Santo as SVP- Commercial Development, Chris Ralph as SVP-Leasing Operations, and Lynda Nagy as VP-Joint Venture Development...Private equity firm Genuity Capital Markets says it will acquire 93 outlet stores owned by Saan Stores Ltd in Canada and fold them into the Bargain Shop discount chain...Opus South Corp has hired Kevin Polston as VP-Retail Development for the South region; previously, Polston was with Cousins Properties ...Robert Niendorf has been named SVP-Asset Management for Grubb & Ellis Realty Investors; most recently, Niendorf was with BlackRock Realty Advisors... Orlando, FL-based Value Financial Services - which operates 65 Value Pawn & Jewelry stores throughout the Southeast, has terminated the merger agreement and proposed merger with TX-based EZCorp; the $110 million transaction was originally entered into in June ‘08...Joseph Freed and Associates LLC (JFA) has announced the promotion of nine staff members; working in the Chicago, IL headquarters, Mike Cassady has been promoted to VP-Development, Kirsten Hull and Joseph Carr have each been promoted to Development Director, Lisa Gryzik to Director Property Management, Tom Kaufman to Leasing Manager, and Phil Leiterman to Senior Accountant; in Michigan, Jim Jehle has been promoted to VP of Development for all MI JFA properties and Barry Levin to Development Manager...After filing for bankruptcy-cour protection in May and closing 120 stores, Clifton, NJbased Linens 'n Things plans to close another 28 home-goods stores.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
(continued) ft.; other tenants include smaller stores, Provident Bank, Chili's, and Outback Steakhouse; average household income $75,000; developer RD Management Corp (Thomas Mirandi), 810 7th Ave, 28th Fl, New York, NY 100195919, (212) 265-6600, Email: tmirandi @rdmanagement.com. Poughkeepsie: Demolition underway on 747,111 sq. ft. South Hills Mall on 72 acres at Rts 9 and 9D in Dutchess County (See SCD, P. I923); plans include remodeling the parking lot and constructing five new buildings including Christmas Tree Shops; during construction Shoprite, Kmart, Burlington Coat Factory, Silver Cinema and a free-standing Chuck E Cheese will remain open; parking 3447 cars; opened ‘74; population 260,000; average household income $70,000; developer Vornado Realty Trust, 210 Route 4 East, Paramus, NJ 07652, (201) 587-1000, www.vornado realty.com. NORTH CAROLINA Harrisburg: Construction has begun on 765,000 sq. ft. Morrison Ridge on
U.S. Hwy 49 in Cabarrus County; anchors include Lowe’s Home Improvement and Target; developer Aston Properties (George Dewey), 6525 Morrison Blvd, Ste. 300, Charlotte, NC 28211-3532, (704) 3667337, Email: gsdewey4@astonprop .com. PENNSYLVANIA Harrisburg: Expansion underway on 900,000 sq. ft. Harrisburg Mall on 62 acres at I-83 and Paxton St in Dauphin County (See SCD, P. J51); $13 million streetscape to include a new exterior, upscale boutiques, and dining, Barnes & Noble Bookstore, and a 15,000 sq. ft. Sega World Sports Grille restaurant; several existing tenants including Victoria's Secret, New York & company and Bath & Body Works have been renovated or relocated; anchors Bass Pro Shops 225,000 sq. ft., Boscov’s 188,000 sq. ft., and Macy’s 187,000 sq. ft., a $20 million 14-screen Great Escape Movie Theaters opened last year; 110 stores; parking 4933 cars; opened ‘69; population 325,730 within 5 miles; average household income $53911; developer Feldman Mall Properties,
1010 Northern Blvd, Ste. 314, Great Neck, NY 11021, (516) 684-1239, Email: leasing@feldmanmall.com. Straban Twp: Plans resubmitted for a 550,000 sq. ft. shopping center on 72 acres at Rts 30 and 15; anchor tenant to be over 206,000 sq. ft. - possibly WalMart; original plans included 10 retail stores, three restaurants, and a bank; parking 2,400 cars; developer Faison Inc, 121 W Trade St, Ste. 2700, Charlotte, NC 28202-1195, (704) 9722500, www.faison.com. Swatara Twp: Planned $90 million, 700,000 sq. ft. Swatara Marketplace along U.S. Rte 322, just W of Mushroom Hill Rd in Dauphin County (See SCD, P. J27); project to possibly include an upscale grocery store; developer Regency Centers, One Independent Dr Ste 114, Jacksonville, FL 32202-3842, (904) 598-7000, www.regencycenters.com. West Hazleton: Redevelopment funding approved for 800,000 sq. ft. Valmont Shopping Plaza at Susquahanna Blvd in Luzerne County (See SCD, P. J137); preliminary plans include the demolition of a 96,000 sq. (continued)
NOW LEASING Georgia
Shoppes at Henry Crossing, metro Atlanta
Contact: Kathleen Cullinan, 630.286.0179, kcullinan@cullprop.com
Illinois
East Peoria/Downtown 2010, East Peoria
Contact: Jim Anders, 309.999.1736, janders@cullprop.com Contact: Suzanne Williams, 309.999.1717, swilliams@cullprop.com
East Court Village, Pekin
Contact: Jim Anders, 309.999.1736, janders@cullprop.com Contact: Kathleen Cullinan, 630.286.0179, kcullinan@cullprop.com
Quincy Mall, Quincy
Contact: Jim Anders, 309.999.1736, janders@cullprop.com Contact: Kathleen Cullinan, 630.286.0179, kcullinan@cullprop.com
Missouri
The Streets of St. Charles at Noah's Ark, metro St. Louis
The Streets of St. Charles at Noah's Ark
Contact: Kelly Hancock, 636.757.1152, khancock@cullprop.com Contact: Jim Anders, 309.999.1736, janders@cullprop.com Contact: Peter D. Keelan, SCLS, 412.415.1304, pkeelan@cullprop.com
Pennsylvania
Southpointe Town Center, metro Pittsburgh
Contact: Al George, 330.743.2149, ageorge@cullprop.com Contact: Peter D. Keelan, SCLS, 412.415.1304, pkeelan@cullprop.com
Texas
Waller Town Center, metro Houston
Contact: Carey Webb, 972.697.1643, cwebb@cullprop.com
Burleson Commons, metro Dallas/Ft. Worth
Contact: Carey Webb, 972.697.1643, cwebb@cullprop.com
Visit www.cullinanproperties.com for more information.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
9/22/08
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(continued) ft. portion of the shopping center that formerly housed Hills department store and the addition of two major anchors; retailers in a separate wing will remain and be renovated; parking lot will be graded and resurfaced; opened ‘61; developer WP Realty (Tim Herb), 940 Haverford Rd, Bryn Mawr, PA 19010, (610) 552-6000, www.wprealty.com; leasing Charter Realty (Dan Zelson), 183 Main St, Westport, CT 06880, (203) 227-2922, Email: dan@ chartweb.com. TEXAS Lubbock: A new two-story, 36,810 sq. ft. Barnes and Noble will require substantial renovation of 1.15 million sq. ft. South Plains Mall on 70 acres at S. Loop 289, Slide Rd and 57th St in Lubbock County (See SCD, P. F468); other new tenants include Forever 21 and Aerie anchors Dillard’s Home Store, JCPenney, Sears, Mervyn’s, Dillard’s, and Beall’s; 165 stores include Forever 21 and Aerie; parking 6100 cars; opened ‘72; population 272,723 within 15 miles; average household income $50,865; developer The Macerich Co (Susan Valentine), 401 Wilshire Blvd, Ste. 700, Santa Monica, CA 90401, (310) 394-6000, Email: susan.valentine@macerich.com. VIRGINIA Henrico County: Construction on schedule for an Oct opening of 900,000 sq. ft. White Oak Village open-air power center on 136.5 acres at I-64 and Laburnum Ave in Henrico County (See SCD, P. J165); project to include pedestrian-friendly street and open spaces, shopping, dining, and leisure space; site to also include a Hyatt Place hotel; anchors Circuit City, Lowe’s, JCPenney, PetSmart, Sam’s Club, Target, and Ukrop’s; developer Forest City Commercial Group (Keith Brandt), 1100 Terminal Tower, 50 Public Square, Ste. 1026, Cleveland, OH 44113, (216) 416-3421, Email: keithbrandt@forestcity.net. WISCONSIN Eau Claire: A 29,000 sq. ft. Barnes & Noble planned for 820,000 sq. ft. Oakwood Mall at U.S. Hwy 53 & Golf Rd in Eau Claire County (See SCD, P. E739); project to also include an interior reconstruction for an ULTA
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cosmetics store and a new restaurant; anchors Younkers, Carmike Cinemas, JCPenney, Macy’s, Sears, and Sheer’s Allsports; 125 stores; parking 5200 cars population 250,255; average
household income $55,561; developer General Growth Properties Mgmt, Inc, 400 South Hwy 169, Ste. 800, Minneapolis, MN 55426, (612) 525-1200, www.ggp.com.
NEW AND EXPANDING CENTERS 201,000-500,000 SQ. FT. ALABAMA Fultondale: Ross and JCPenney may have already opened at 335,000 sq. ft. Colonial Promenade Fultondale currently under construction on 50 acres at Walkers Chapel Rd and I-65 (See SCD, P. I304); anchors also include Target 125,000 sq. ft. (opened in Oct ‘07), Best Buy, Ashley Furniture, and Books-A-Million; 24 stores also include Clair's, Maurice's, The Shoe Dept., Bama Fever/Tiger Fever, and Sally Beauty; parking 2,123 cars; population 338,159 within 10 miles; average household income $63,704; developer Colonial Properties (Wes Hardin), 2101 6th Ave N, Ste. 750, PO Box 11687, Birmingham, AL 352032749, (205) 250-8745, Email: whardin @colonialprop.com. FLORIDA Bonita Springs: Renovations underway on 287,000 sq. ft. Center of Bonita Springs at NW corner of Bonita Beach Rd and U.S. 41; changes to the building facade and parking lot to be completed before Thanksgiving; a second phase, which involves changes to some of the larger stores to be completed around Thanksgiving ‘09; anchors Publix, Kmart, and Beall’s; contractor Deerbrook Construction of Bonita Springs, FL; architect Ledy Design Group of Lansing, MI; developer Strathmore Development Co (Terry Benton), 1427 West Saginaw, Ste. 200, East Lansing, MI 48823, (517) 336-4400, Email: terryb@strathmoredev.com. ILLINOIS Mattoon: $4.5 million in renovations planned for 335,000 sq. ft. Cross County Mall at Broadway East (See SCD, P. E718); anchors JCPenney, Elder-Beerman and Sears; 30 stores; parking 1800 cars; opened ‘71; population 180,000 within 10 miles; average household income $38,866; developer Regis Realty I, LLC
(William Roebken), c/o Cross County Mall, 700 Broadway East, Mattoon, IL 61938, (217) 258-8513, Email: billr@regisinc.com. IOWA Council Bluffs: Construction to begin late ‘09 or early ‘10 on 450,000 sq. ft. Designer Outlets of MidAmerica on 50 acres E of Horseshoe Casino; phased development to be built in two phases of 394,088 sq. ft. and 48,000 sq. ft.; project could also include retail pads on an additional 10 acres; opening summer ‘10; developer Continental Real Estate Companies, 150 E Broad St, Columbus, OH 43215-3610, (614) 221-1800, www.continental-realestate .com. MAINE Auburn: Former Atrium Motel Lodging Complex to be razed to make way for additional retail; 297,915 sq. ft. Auburn Mall on 35 acres at Center St and Mt. Auburn Ave in Androscoggin County (See SCD, P. I630); possible tenants include a bank and coffee shop; anchors JCPenney and Steve & Barry’s; 57 stores; parking 1800 cars; opened ‘79; population 111,951; average household income $50,244; developer Auburn Mall Associates, LLC, c/o Auburn Mall, 550 Center St, Auburn, ME 04210, (207) 786-2977; leasing General Growth Properties, 110 N Wacker Dr, Chicago, IL 606061116, (808) 591-8411, www.auburn mall.com. MISSOURI Kansas City: TIF funding recommended for $90.5 million redevelopment of 307,324 sq. ft. Citadel Plaza at 63rd St and Propect Ave;"villagestyle" retail project to include a grocer, specialty shops, and restaurants; if approved, center is expected to be completed by spring ‘10; in addition, construction of a 35,000 sq. ft. office (continued on P. J204)
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
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"EXPANDING RETAILERS" 2008 From ERSn) TAIL E Editio R h REL INGjor Malls 28t D APPA A LE ry of Ma
14th n Editio The 2008, 14th edition of Expanding Retailers contains all the information you need to make contacts and close deals. FILL THOSE VACANT STORES! •
Profiles the leading and expanding chains reported on the previous year
•
Contains Contact Names, Addresses, Telephone Numbers, and Fax Numbers
• EsWith REW tate/ two indexes to make contact J. C Cohen Real n f o y l l t Ho den ctioeasier -- Alphabetically by store Presi nstru y Vice ng & Co 2th Fl name amil ’S F Y s 4 and by retail category i D ’ 1 y -100 Plann roadway G O O f: Good 0003 1 o B Y . . 0 v c 77 In , N Di ing, Yor k then 2719 S N ew 1 2 ) 2 0 9 - 4 7 0 5Lists the number of new stores R C l o t h n D . C a u Estate E L e 2 l AI P h : ( 2 1 2 ) 2 0 9 ew. c o m S t e p h or of Rea n e es RET ( r sought, their space requirements, r t a c c o : j L t e x G s r Fa 22 dy’s hen@ uper o a d , Di NDIN ly. c o w.com the nn S a r r ow R b - 4 0 0 G o o , T N 3 7 9 l A A o P h 158type of centers, and o E X FTS 000 5 D n Fa ville .jcr e nd J tion: fts a c o f 5 5 5 4 2 J o - A n a n t o K n o x 5 ) 9 6 6 - 2 2 1 0 w w w of Opera geographic areas for expansion A a r R C C n 6 l I 6 8 -4 IC / res, ting tes; p s and t. P h : ( 6 5 ) 7 7 7 m Units ; FABR n Fabric -Ann Sto tly opera in 47 sta 000 sq. f il : (8 gdys.co com x , a n o n 5 R e t a ctory s e F J p 3 r e A of Johe@ s o n l i n e . 83 ; cur uperstor and five f Store O Fa t 6 u div. 3 5 a 2 4 c y s The prime o o d ration: 3 H 44 nd 172 S nn store VP o 3 3 0 ) 4 6 3 g Co. source of information . O E w , , n g e w ( a r o -A ss & w auowner-developers, f Op r S t o Huds d Crafts sq. ft. Jo d Holmbe 600, Fax ’ I S s for leasing t V . s evi om an LE 0 -2 vi Uni rics 25,00 year. Da 330) 656 n s t o r e s . c of: L heeler tail e . e v n R i o ( t n D managers, brokers -W agents, jo-a open tores nex l Estate, rd M dith nager t a rs berg@ M e r e state Ma o . H & . S h e p h e ger, Eas Supe s a n d R e v i d . h o l m DEALMAKERS!!! a L C E n l i a a n a Re ss & 3 ; L o n state M eratio E m a i l : d Strau y S t r e e t M P 3V lE 111 , Levi REA er N L 3 a n a d a ; Rea t t C O a t A 94ONLY $75 to paid 6660 , E B ham hout C co C 5 0 2 1 2 ) 155 t C o a s t 4th Str ee s k Y, IC 1 i o r c D a h n N g , M 3 s A Fra -12 throu salad y N, D, C r 47 W. or San ) 5 0 1subscribers to Shopping FOO Canada o t t e n Wa s t a u r a n t s ion rings, s i t e s p e (415 Flo : d h e 4 r o n r P 2 3 o Center Digest –pre-paid en A & W o f 3 5 W i n g 6 7 0 h fries, to op p e r a t ers, frenc e s ; p l a n o y l rg nt ch c u r r e ns sell bu n s a n d w i e io locat n d c h i c k a Mail or Fax d o g s to: JOMURPA Publishing Inc., PO Box 837, 20 N. Broadway, Nyack, NY 10960 800-211-6858 FAX 845-348-7011 cto
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Jackson, TN-based home decor retailer Kirkland’s Inc says net sales for the quarter ended August 2 were up $300,000 to $87.7 million as samestore sales rose by 2.8%....DSW Inc announced net income for the second quarter rose to $11 million on net sales of $357.2 million, compared with last year’s $6.5 million income on sales of $348.7 million; comparable store sales decreased 6.9%...For the three months ended August 2, Coldwater Creek reported gross profit was $95.6 million on net sales of $241.4 million; comparable store sales declined 13.7%... For the second quarter, Gap reported net sales of $3.5 billion, compared with $3.69 billion and overall comparable store sales fell 10%... PetSmart, which operates more than 1,075 pet stores throughout the U.S. and Canada, announced net sales for the second quarter were up 11.2% to $1.2 billion and same-store sales rose 4%...Fresno, CA-based Gottschalks Inc reported total sales decreased 7.8% to $133.7 million for the second quarter and same-store sales fell 7.3%...For the 13 weeks ended August 2, Genesco Inc reported net sales increased 8% to $353 million from $328 million and comparable store sales increased 4%...The Men's Wearhouse announced second quarter sales fell 4.2% to $545 million...Columbus, OH-based Big Lots said net sales for its second quarter increased 1.9% to $1.1 billion, and comparable store sales rose 2.8%...The 850-unit Macy's department store chain reported second quarter sales were down 3% to $5.7 billion and same-store sales fell 2.1%...Brown Shoe Co announced net sales for the second quarter decreased 1.3% to $569.2 million from $576.6 million... Borders Group, which operates more than 1,100 bookstores nationwide primarily under the Borders and Waldenbooks brand names, reported consolidated sales from continuing operations were down 6.9% to $749.2 million for the quarter and comparable store sales decreased by 8.9%...Bensalem, PAbased Charming Shoppes reported sales from continuing operations for the quarter declined 7% to $648.6 mil-
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lion and comparable store sales dropped 10%...Fine jewelry retailer Finlay Enterprises announced sales for the three months ended August 2 were up 28.8% to $190.6 million and same-store sales fell 4.8%. The company operates as Carlyle, Congress, and Bailey Banks & Biddle, which was acquired in November ‘07...Ann Taylor Stores reported results for the second quarter ended August 2 with net sales of $592.3 million, compared with net sales of $614.5 million and comparable store sales down 10.8% ...For the three months ended August 2, New York, NY-based specialty athletic retailer Foot Locker Inc said sales were up 1.5% to $1.302 billion and same-store sales fell 0.5%...Net earnings for the second quarter, announced Ross Stores, rose 40% to a record $71.3 million as sales increased 14% to $71.3 million as comparable store sales rose 6%...Charlotte, NCbased The Cato Corp reported net income of $12.1 million compared to $12.5 million for the second quarter; comparable store sales increased 2%. The company currently operates 1,287 stores in 31 states...CKE Restaurants says same-store sales for the four weeks ended Aug 11 for Carl’s Jr stores were up 4.2%, while Hardee’s recorded an increase of 1.4% in its comparable store sales for the period...For the second quarter, Saks Inc announced revenues fell 3.6% to $669.2 million from $694.1 million and samestore sales were down 4%...Talbots Inc saw losses widen to $25 million from a loss of $13.3 million and sales fell 7.7% to $528 million from $572.3 million for the quarter ended August 2; comparable store sales for Talbots and J. Jill declined 11.7% and 13.2%,
respectively...Bon-Ton reported second quarter revenues fell 4.9% to $694.9 million from $730.9 million as comparable store sales fell 5.7%... Jacksonville, FL-based Stein Mart reported sales for the three months slipped 5.8% to $311.6 million and comps fell 9.7%...Second-quarter sales for Stage Stores' decreased 2.2% to $9.7 million from $9.9 million and same-store sales fell 1.4%...CA-based Hot Topic said sales grew 3.2% to $166.8 million for the period ended August 2 and same-store sales fell 0.9%. The company operates 158 Torrid stores and 684 Hot Topic units... Home Depot reported sales for the second quarter dropped 5.4% to $21 billion as comparable store sales declined 7.9%...For the second quarter, BJ's Wholesale Club reported sales increased 18% to $2.65 billion and comparable store sales were up 16%...Columbus, OH-based Limited Brands said revenue for the second quarter fell 13% to $2.28 billion, partially because of the Express and Limited divestiture, as same-store sales fell 7%. Total sales for its Victoria's Secret unit rose 2.9% to $1.47 billion and its Bath & Body Works unit posted sales of $553.2 million, down 1.6%...The 835-unit Gymboree children's clothing retailer said secondquarter net income rose 38% to $8.01 million on sales of $205.7 million... According to Knapp-Track, which tracks sales at about 10,000 dining outlets, overall sales for the seven months ended July at sit-down restaurants open at least 16 months fell 1.5% from a year earlier...For the second quarter, New York-based Aeropostale Inc said revenue rose 21% to $377.1 million and same-store sales were up 11%.
Inland Borrows To Pay Down Debt Inland Real Estate Corp has borrowed $140 million in a twoyear, unsecured term loan to help pay down its line of credit to provide flexibility to acquire other properties. According to Mark Zalatoris,
president and CEO, he expects an improving economy will provide the company with new deals. “We’re seeing pricing improve, so as properties become more reasonably priced we may [be able to add to our own portfolio].”
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(continued from P. J200) building to begin fall ‘11; parking 1,200 cars; developer Community Development Corp, 2420 E Linwood Blvd, Ste. 400, Kansas City, MO 64109, (816) 924-5800, www.cdcofkc .org. NEW YORK Patterson: Developer asks for commercial rezoning for a proposed 382,560 sq. ft. Patterson Crossing on 90 acres off Rt 311 near I-84 on the Kent-Patterson border in Putnam County (See SCD, P. I474); anchors Costco and Lowe’s with an additional 28,000 sq. ft. garden center; developer Camarda Development Co (Paul Camarda), 1699 Rt 6, Ste. 1, Carmel, NY 10512, (845) 228-1400. NORTH CAROLINA Mebane: Planned 350,000 sq. ft. Tanger Factory Outlet on 58 acres along I-85 in Alamance/Orange County (See SCD, P. I825); part of a larger mixed-use development with 60,000 sq. ft. medical space and more than 550 homes and senior-living units; opening by summer ‘09; developer Tanger Factory Outlet Centers (Carrie Warren), 3200 Northline Ave, Ste. 360, P.O. Box 10889, Greensboro, 27404, (336) 292-3010, Email: cjwarren@ tangeroutlet.com. OHIO Delaware: Plans presented to the planning board for a proposed $60 million, 420,000 sq. ft. Gateway Plaza East on 74 acres at Rts 36/37, across from Glennwood Commons; project to include a 240,000 sq. ft. anchor and two junior anchors of 75,000 sq. ft.; developer joint venture Leslie Group Inc, 5060 Parkcenter Ave, Ste. B, (614) 760-0701: Dublin, OH 430177507, www.leslie-group.com, and Equity Inc, 100 E Wilson Bridge Rd, Ste. 200, Worthington, OH 43085, (614) 802-2900. PENNSYLVANIA Levittown: Construction and leasing continues on 468,675 sq. ft. Levittown Town Center at Rt 13 and Levittown Pkwy in Bucks County (See SCD, P. J80); anchors Home Depot 98,000 sq. ft. and Wal-Mart Supercenter; other tenants include Ross Dress for Less 27,689 sq. ft. and Famous Footwear 6,750 sq. ft. opening spring ’09;
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average household income $71,689 within one mile; developer DLC Management (Evan Podob), 580 White Plains Rd, Tarrytown, NY 10591, (914) 631-3131, Email: epodob@ dlcmgmt.com. SOUTH CAROLINA Conway: Construction has begun on a 200,000 sq. ft. Wal-Mart Supercenter as part of 310,000 sq. ft. Myrtle Ridge Crossing near U.S. 501 and Myrtle Ridge Dr; plaza to also include four, 90,000 sq. ft. junior anchors and several other outparcels measuring between 10,000 sq. ft. and 20,000 sq. ft.; project to also include multiple road improve-ments; developer joint venture Wal-Mart (Tara Stewart) and Faison Enterprises (Bill Barnett), 121 W Trade St, 27th Fl, Charlotte, NC 28202, (704) 972-2500, Email: bill. barnett@faison.com. UTAH Sandy: Nordstrom Rack to open a 35,000 sq. ft. store in spring ‘09 at The Commons at Southtowne at 10400 S State St, across from South Towne Mall; anchors Staples, DSW shoe store, Bed Bath & Beyond, Sports Authority, and ULTA; other tenants include Sports Clips Haircuts, Five Guys, and Chipotle; opened mid-‘08; population 95,374 within three miles; average household income $87,366; developer Johansen-Thackeray (John Thackeray), 1165 Wilmington Ave, Salt Lake City, UT 84106, (801) 487-6670; leasing Coldwell Banker Commercial NRT, 6550 South Millrock Dr, Ste. 200, Salt Lake City, UT 84121, (801) 947-8300, www.coldwellutah.com. WISCONSIN Madison: A second phase of redevelopment underway at 471,297 sq. ft. Hilldale Shopping Center on 33 acres at University Ave and Midvale Blvd in Dane County (See SCD, P. H74); project to include a 65,000 sq. ft. Whole Foods grocery and a 675stall parking structure; in addition, construction on a 125-room Hotel Indigo is expected to begin in late September; anchor Macy’s; 49 stores; parking 1800 cars; opened ‘62; population 185,305 within three miles; average household income $66,135; developer Joseph Freed & Associates (Adam Fink), 33 S State St, Ste. 400, (continued)
Conceiving and Developing Quality Real Estate for Over Thirty Seven Years
Introducing
Peninsula Town Center Hampton, Virginia
www.peninsulatowncenter.com
Mall Properties, Inc. 654 Madison Avenue New York, NY 10065 Telephone: 212.935.1330 Fax: 212.832.5369
E-mail: leasing@mallproperties.com ©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960 (845) 348-7000 www.mallproperties.com
C U R R E N T
P R O J E C T
Peninsula Town Center, Hampton, Virginia At the Peninsula Town Center, major department stores will share acreage with leading specialty shops; top restaurants will overlook beautifully landscaped parks and cultural arts performances. With half a million people within a 20-minute drive of the site, Peninsula Town Center will be the most desirable new attraction in Southeastern Virginia. Mall Properties is proud to propose this visionary plan for the 21st century, a project that by its very scope and ingenuity expresses the company’s desire to remain a trusted civic partner for decades to come.
Georgia
Akers Mill Square (400,000 sf)—Cobb County, Atlanta Bed Bath & Beyond, Sports Authority, Toys ‘R’ Us, OfficeMax, Circuit City
Louisiana
The Mall at Cortana (1,650,000 sf)—Baton Rouge Dillard’s, JCPenney, Foley’s, Sears, Steve & Barry’s Cortana Square & Fringe (370,000 sf)—Baton Rouge Wal-Mart, Lowe’s, Babies ‘R’ Us, Old Navy, Bed Bath & Beyond, Shoe Carnival, Guitar Center, Office Depot Siegen Lane Marketplace (1,000,000 sf)—Baton Rouge Wal-Mart, Sam’s, Lowe’s, Bed Bath & Beyond, Old Navy, T.J. Maxx, Chilis, Cinemark Theatres, Books A Million, Texas Roadhouse, Kohl’s, Courtyard Marriott, Residence Inn Sicily’s Plaza (27,500 sf)—Baton Rouge Sicily’s Italian Buffet, Oreck Vacuum, Honey Baked Hams, EB Games, WellsFargo
Montana
West Plaza, Glendive—Kmart
New Jersey
Fashion Center, Paramus—Bed Bath & Beyond, T.J. Maxx
New York
Great South Bay (500,000 sf)—Babylon, Long Island Bed Bath & Beyond, Marshalls, Old Navy, Ann Taylor Loft, Panera Bread, Bath & Body Works, The Children’s Place King Kullen Plaza, Babylon, Long Island—King Kullen, Eckerd Drugs Manhasset—Crate & Barrel, The Sharper Image, Abercrombie & Fitch, Victoria’s Secret, J Crew, Sephora, Bebe, Georgette Klinger, H&M Northway Mall (600,000 sf)—Colonie (Albany) Target, Marshalls, Joann etc., Staples, David’s Bridal, B.J.’s Wholesale Club, Thomasville Furniture, Petco, Dress Barn, Linens ‘n Things, Eddie Bauer Outlet Parkchester Retail District—Bronx 650,000 sf. of Retail Shops with Macy’s, Offices and 12,000 Apartments Savoy Shops—Third Avenue, 60th-61st Streets, New York City 65,000 sf. of Retail Shops on 3 Levels, Dylan’s Candy Bar
Pennsylvania
St. David’s Square (217,000 sf)—St. David’s, Philadelphia T.J. Maxx, Bed Bath & Beyond, MJM Designer Shoes, Genuardi’s, Micro Center
Virginia
Mercury Plaza (350,000 sf)—Hampton Texas Steakhouse & Saloon, Cracker Barrel Old Country Store, Wachovia Bank, Ruby Tuesday Coliseum Square (43,000 sf)—Hampton
Hotels
Residential
Baton Rouge, LA Columbus, OH (Easton) Courtyard by Marriott, Hilton Columbus, Courtyard by Marriott, Residence Inn by Marriott Residence Inn by Marriott Fairfax, VA Marco Island, FL Marriott Hilton Marco Island
Parkchester, Bronx, NY 12,271 Apartments 650,000 Square feet of retail
(continued) Chicago, IL 60603, (312) 675-5345, Email: afink@jfreed.com; leasing Corrigan Properties Inc, 5900 N. Port Washington, Ste. 156, Milwaukee, WI 53217, (414) 332-8136. Waukesha: Ground has been broken on 498,000 sq. ft. The Shoppes at Fox River on 54 acres along Sunset Dr (former Supervalu distribution center)
(See SCD, P. J189); development calls for up to 273,000 sq. ft. for three anchors including Target and Pick 'n Save; there will also be 204,000 sq. ft. of mid-box, junior, and small-space tenants, and 4.1 acres of outlots developer Opus North (Jeff Hildahl), 10350 Bren Rd W, Minnetonka, MN 55343, (952) 656-4874, Email: jeff. hildahl@opusnw.com.
NEW AND EXPANDING CENTERS UP TO 200,000 SQ. FT. ALABAMA Decatur: $65,000 renovation to be completed by year-end on a 40-yearold shopping center at 1416 Sixth Ave; four-story building to be gutted and renovated; existing tenants include Cash Express and Novedades Margaret, women's clothing store; vacancies are available for a restaurant or other retailers; developer Morley Denbo c/o Perceptive Designs (Shirley Hammond), 716 Bank St NE, Decatur, AL 35601, (256) 355-3411, Email: info@perceptivedesigns.com. ARIZONA Chandler: Construction could begin sometime in ‘11 on a proposed Riggs Gateway on 34 acres at NE corner of Riggs Rd and Arizona Ave; project to include a 117,000 sq. ft. anchor store and other retail shops and restaurants; developer Diversified Partners, 5635 N Scottsdale Rd, Ste. 150, Scottsdale, AZ 85250, (480) 947-8800. CALIFORNIA East Palo Alto: A 50,000 sq. ft. Sports Authority and possibly Nordstrom Rack to open next spring at a planned 92,000 sq. ft. building formerly housing EXPO Design Center; developer Regency Centers Corp, One Independent Dr, Ste. 114, Jacksonville, FL 32202-3842, (904) 598-7000, www.regencycenters.com. Lancaster: Recently reorganized Planning Commission to again review a proposed 35,700 sq. ft. shopping center on five acres at SW corner of Ave K and 30th St W; project to include a restaurant that will offer the on-site sale of alcoholic beverages; developer Marinita Development Co, 3835 Birch
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St., Newport Beach, CA 92660, (949) 756-8677, www.marinita.com. La Quinta: Construction has begun on 90,000 sq. ft. Jefferson Square on 10.9 acres at SW corner of Jefferson St and Fred Waring Dr (See SCD, P. J190); anchors Fresh & Easy and CVS/ pharmacy to open first quarter ‘09; population 93,000 within three miles; average household income $70,000; developer joint venture Marinita Development, 3835 Birch St, Newport Beach, CA 92660, (949) 756-8677, www.marinita.com and Regency Centers, 121 W Forsyth St, Ste. 200, Jacksonville, FL 32202-3842, (904) 598-7000, www.regencycenters.com. South Novato: Renovations have begun on Pacheco Plaza at Ignacio Blvd, just W of Hwy 101; site plans include new landscaping, lighting, sidewalks, more space for outdoor dining and upgraded signed; portion of center to be re-tenanted with a mix of more upscale shops, restaurants, and services; opened in the ‘60s; contractor Nordby Construction of Santa Rosa, CA; architect Daniel MacDonald Architects of Novato, CA; developer Walter Kieckhefer Company LLC, 366 Ignacio Blvd, Novato, CA 94949, (415) 883-4646. Stockton: Planned Stonebrier shopping center on nine acres at SE of W Lane and Bianchi Rd in San Joaquin County; anchor Rite Aid pharmacy 18,000 sq. ft.; project to also include retail shops and eateries; opening spring ‘09; future plans call for an adjacent upscale apartment complex; developer The Patmon Co (Dave Midura), 6465 West Ln, Stockton, CA 95210-3387, (209) 473-8146.
COLORADO Fort Colliins: Proposed North College Marketplace on 30 acres at NE corner of North College Ave and E Willox Ln; anchor King Soopers 123,000 sq. ft.; project to also include eight smaller retail, commercial, or restaurant sites; developer Loveland Commercial LLC (Eric Holsapple and Don Marostica), 1043 Eagle Dr, Loveland, CO 80537, (970) 667-7000, www.loveland commercial.com. CONNECTICUT Beacon Falls: Plans approved for 3,300 sq. ft. strip mall at 94 N Main St, between Gabe’s Mobil Station and Casa Giovanni’s; architect Joseph D. Mylen Sr.; developer Meridian Property Management (Mario Trepca), 147 Main St, Seymour, CT 06483, (203) 231-1964. Woodbury: Ground may have already been broken on Woodbury Green South at 878 and 807 Main St (former site of Corey’s) at the entrance to the Middle Quarter on Main St; fivebuilding retail shopping village; first two buildings could be completed before year-end; developer TWB Properties (Thomas Briggs), 196 N Plains Industrial Rd, Wallingford, CT 06492-2358, (203) 269-9991, www. towercorp.com. FLORIDA Braselton: Planned Friendship Commons on 39 acres at Friendship and Spout Springs Rds in Hall County; anchor Publix 45,600 sq. ft.; project to also include 12,960 sq. ft. of shops and 12 outparcels of about 1 acre each developer Halvorsen Development, 33 Se 4th St, Ste. 100, Boca Raton, FL 33432-6070, (561) 367-9200. Lady Lake: Grand opening planned for this month of 160,000 sq. ft. Village Crossroads at U.S. Hwy 27/441, across from Lady Lake Crossing (See SCD, P. I960); anchors Best Buy, Bed Bath & Beyond, PetSmart, A.C. Moore and a junior anchor; developer The Benchmark Group (Marty DelleBovi), 4053 Maple Rd, #200, Amherst, NY 14226-1058, (716) 833-4986, Email: mdellebovi@benchmarkgrp.com. Ocala: A 5,000 sq. ft. Horse & Hounds English tavern-style restaurant to open in December at Old Town Village (continued)
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
PO Box 837 20 N. Broadway Nyack, NY 10960
"The Locations Newsletter"
Telephone: (845) 348-7000
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(continued) currently under construction on U.S. 27 alongside Lowe’s on E Silver Springs Blvd, near Six Gun Plaza; project to include six stand-alone buildings with room for 15 to 20 stores in a complex designed to have a quaint English country feel; developer Wendell Landry, 6998 N U.S. Hwy 27 # 101, Ocala, FL 34482, (352) 620-2500. GEORGIA West Cobb: Developer to ask planning officials to change property’s zoning to neighborhood retail commercial for a proposed The Oaks West Cobb on 20 acres at SW corner of Dallas Hwy and Casteel Rd in Cobb County; anchor Fresh Market; developer Columbia Properties, 1355 Terrell Mill Rd SE, Building 1478, Ste. 200, Marietta, GA 30067-9482, (770) 953-6262. KENTUCKY Franklin: Ground has been broken on initial 40,000 sq. ft. of 140,000 sq. ft. The Shoppes at Franklin on 22 acres on U.S. 31-W, near Lowe’s and across the street from Wal-Mart; five tenants to open at the beginning of ‘09 include Colortyme Rentals, Fox’s Pizza Den, Hibbett Sports, Dollar Tree, and Express Tan; two additional phases of development include 100,000 sq. ft. with room for a major retailer; developer Williams Properties (Mark Williams), P.O. Box 15, Bowling Green, KY 42102, (270) 782-0859, Email: markwilliams@wpwaa.com. NEW JERSEY Allendale: Renovation and expansion approved for 84,290 sq. ft. Allendale Shopping Plaza on 5 acres at W Allendale Ave and DeMurcurio Dr in Bergen County (See SCD, P. J94); plans call for new parking lot surfaces, new lighting, renovated construction of the buildings, and a 4,000 sq. ft. addition to the south side of the plaza; tenants include A&P Fresh 38,060 sq. ft., Commerce Bank 11,290 sq. ft., and Learning Express 3260 sq. ft.; parking 250 cars; opened ‘67; average household income $125,000; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 4449888; Email: jazarian@azarian group.com or arothstein@azarian group.com.
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NEW YORK Madison: Proposed $20 million, 130,000 sq. ft. Madison Marketplace on Rt 12B and Airport Rd (See P. J87); anchors Price Chopper and Tractor Supply Company; developer Sphere Development (Kathy Bennett), 2836 Route 20 E, Cazenovia, NY 13035, (315) 655-5535. Wilton: Town planning board gives final approval for 30,500 sq. ft. shopping center now under construction on Rt 50 (between Price Chopper and Wilton Mall); project to include seven or eight tenants including Metro Mattress and a 2,700 sq. ft. bank branch; opening midNovember; contractor Frye Companies of Malta NY; engineer Bergmann Associates of Albany, NY; developer Nigro Companies (Steve Powers), 20 Corporate Woods Blvd, Albany, NY 12211-2396, (518) 436-8421, Email: spowers@nigrocos.com. PENNSYLVANIA North Annville Twp: Work is underway on a shopping center featuring a big-box store, grocery store, and restaurants on 30 acres at NE corner of Rt 422 and Clear Spring Rd; possible tenant also include a pharmacy with a drive-up window, an electronics store, a craft store, and a book store, among others; developer H.R. Weaver Building Systems (Chad Weaver), 47 Palmyra-Bellgrove Rd, Annville, PA 17003, (800) 287-3753, www.hr weaver.com. York: Planned 51,000 sq. ft. Queen Street Market on 10 acres at South Queen St and Iron Stone Hill Rd; power center anchored by Food Lion; spaces totaling 16,000 sq. ft. are available along with two-one-acre pad sites opening mid-‘09; population 108,307 within five miles; average household income $57,383; developer MacKenzie Retail, LLC (Evan Gallant), 2328 West Joppa Rd, Ste. 200, Lutherville, MD 21093, (410) 4944864, Email: egallant@mackenzie commercial.com. SOUTH CAROLINA Bluffton: Planned 135,000 sq. ft. Buckwalter Commons on U.S. 278; anchor Harris Teeter 53,543 sq. ft.; opening late ‘10; developer Crosland (Julieanne Smith-Hamilton), 227 W
Trade St, Ste. 800, Charlotte, NC 28202-1675, (704) 561-5265, Email: jsmith@crosland.com. TENNESSEE Nashville: Ground has been broken on 45,000 sq. ft. Ridgeview Heights on 5.2 acres at Bell Rd and Eagle View Rd ; outlots of 0.8 acres and 1.3 acres available; population 50,000 within three miles; average household income $55,000; developer Integrity Realty Co (Frank Madonia), 310 Wilson Pike Circle, Ste. 103, Brentwood, TN 37027, (615) 948-7869, Email: fmadonia@comcast.net. TEXAS Cockrell Hill: Construction has begun on $10 million, Plaza del Oro at SW corner of Cockrell Hill Rd and Jefferson; anchor El Ranchito grocery store; project to also include an urgent medical care facility, Centennial Liquors, and a drug store; opening late fall or early winter; developer Margaux Development, 14900 Landmark Blvd, Ste. 610, Dallas, TX 75254, (972) 9808806, www.margauxrealty.com. Dallas: Site work has begun for 105,000 sq. ft. Buckner Crossing I on 12 acres on two corners of Bucker and Samuel Blvds; anchors Ross Dress for Less 27,689 sq. ft., Payless Shoe Source, Anna’s Linens, and Rainbow Shops; four pad sites include Resource One Credit Union, Dunkin Donuts, and a 5000 sq. ft. building with Panda Express and T-Mobile; opening late summer ’09; part of a $30 million project to also include Buckner Crossing II on 19 acres and anchored by a 45,000 sq. ft. LA Fitness and 25,000 sq. ft. to 35,000 sq. ft .of inline retail space and pad sites for Carl’s Jr and Blue Wave Car Wash; population 324,432 within five miles; average household income $54,842; architect O'Brien & Associates Inc of Dallas, TX; contractor Westwood Construction Co of Fort Worth, TX; developer NorthPoint Properties (Dave Carter), 8235 Douglas Ave, Ste. 720, Dallas, TX 75225, (214) 361-1555, Email: daveWnorthpointdfw.com. Wichita Falls: Individual store buildouts continue at 41,500 sq. ft. Dollar Tree Plaza on Greenbriar, behind a new Wal-Mart; Dollar Tree and Maurices have opened; tenants
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
will also include Shoe Dept and three or four other retailers; center can accommodate upward of 10 tenants; developer Wichita Falls Partners LLC
(Will Schnakenburg), c/o U.S. Industries Group Inc.,P. O. Box 629, Evansville, IN 47707-0629, (812) 425-2428, Email: will@usindustriesgroupinc.com.
UPSCALE SPECIALTY, LIFESTYLE MIXED-USE, ENTERTAINMENT ARIZONA Surprise: Planned $65 million, 122,000 sq. ft. Marley Park Square at SW corner of Litchfield and Waddell Rds, part of Marley Park masterplanned community; project to include Ace Hardware, QuikTrip, MidFirst Bank, a mini-department store and six restaurants; final phases of development to include 64,000 sq. ft. of neighborhood office space and an 85,000 sq. ft. suburban Class A office building; opening in phases over 24 months; developer Champion Partners LLC (Ricky Lyons), 10450 N. 74th St, Ste. 100, Scottsdale, AZ 85258-1048, (480) 751-5191, Email: rlyons@ cpchampion.com.
92211, (760) 776-9900, Email: roliph @aol.com.
CALIFORNIA Fremont: Planned Downtown Fremont near City Hall at 3300 Capitol Ave, between Fremont Blvd to Paseo Padre Pkwy; mixed-use “Main Street”style project will feature 150,000 sq. ft. of retail space, between 20,000 sq, ft, and 50,000 sq. ft. of offices and between 500 and 1,000 units of multiple-family housing; initial phases will have 100,000 sq. ft. of retail, up to 30,000 sq. ft. of office and 'several hundred' housing units, with possibly opening by ‘11; developer TMG Partners, 100 Bush, Ste. 2600, San Francisco, CA 94104, (415) 772-5900, Email: info@tmgparters.com. Palm Desert: Ground to be broken in ‘10 for Avanterra off I-10 and N of Varner Rd; village-within-a-village themed project to include a three-story, 975,000 sq. ft. retail center with offices and loft housing and two subterranean parking levels; project is part of a $2.5 billion master-planned project including a $200 million Fairmont Hotels & Resorts, two five-story office buildings, condominiums, and industrial park; developer Oliphant Enterprises (Richard Oliphant), 77-900 Avenue of the States, Palm Desert, CA
GEORGIA Cumming: Proposed upscale mall with hotels, entertainment, restaurants, and office space on 164 acres off GA 400 in Forsyth County (See SCD, P. J107); project to feature attractive streetscapes lined with high-end retail stores; possible anchors Neiman Marcus or Saks Fifth Ave; opening ‘11 or ‘12 ; developer Taubman Centers, 200 E Long Lake Rd, Ste. 300, Bloomfield Hills MI 48304, MI 48304, (248) 258-7213, www.taubman .com.
FLORIDA Temple Terrace: Planned $45 million pedestrian-friendly town center with retail, restaurant, residential, office, and cultural amenities on 20.36 acres SE of Bullard Pkwy and 56th St; developers awaiting final approval for curb improvements and still need to sign two junior anchor tenants; developer joint venture Ram Development Co, 4801 PGA Blvd, Palm Beach Gardens, FL 33418-3941, (561) 6306110, www.ramrealestate.com, and Pinnacle Realty Investors, 1705 North 16th St, Tampa, FL 33605, (813) 7395860, www.pinnaclera.com.
ILLINOIS Chicago: Planned 2020 Ogden commercial complex on 13 acres at Ogden and Damen Aves, in the Chicago Technology Park; project to include as much as 200,000 sq. ft. of retail anchored by a Roundy’s grocery store, a hotel, rental housing for medical students, a large parking garage, and a medical office building; developer HAS Commercial Real Estate, 233 S Wacker Dr, Ste. 350, Chicago, IL 60606, (312) 332-3555, www.hsacommercial.com. KANSAS Overland Park: Plans approved for
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
$29.5 million mixed-use project on 300 acres at 159th St and Antioch Rd in Johnson County; project to include more than 1 million sq. ft of retail space, more than 400,000 sq. ft. of office space, 600 multi-family units, 300 single-family units and a 42-acre site for a hospital built by Shawnee Mission Medical Center; to be completed in about 10 years; developer Price Brothers, 12721 Metcalf Ave #200, Overland Park, KS 66213-2617, (913) 381-2280. KENTUCKY Owensboro: Plans are several months behind schedule, but construction could begin as early as Nov ‘09 on $3.5 million to $4 million, 28,000 sq. ft. JZ Moore Village “destination” shopping center-condo complex at J.R. Miller Blvd, between Parrish Ave and the CSX Railroad tracks; project will include upscale shops and a restaurant or restaurants; next step is rezoning property from light industrial to general business; developer Ron Sanders, 1205 College Dr, Madisonville, KY 42431-9188, (270) 8258008. MASSACHUSETTS Boston: Ground could be broken by first quarter ‘09 on $160 million The Merano mixed-use facility near North Station; project to include 10,000 sq. ft. of ground-floor retail and 13,000 sq. ft. of ground-floor restaurant space; in addition, there will be a 153-room short-term Coturyard and a 121-room extended-stay hotel from TownePlace Suites--both by Marriot; 206,000 sq. ft. of office space; project to take two years to complete; developer Boston Development Group, 93 Union St, Ste. 315, Newton Centre, MA 02459, (617) 332-6400, Email: bdg@bdg1.com. MINNESOTA Blaine: City leaders agree no environmental review will be required for a proposed 746,450 sq. ft. SportsTown USA on 68 acres N of the National Sports Center (NSC), near 105th Ave; “mixed-use sports mall” will be pedestrian-oriented and designed to encourage walking traffic between existing NSC facilities and the new development including restaurants, retail shops and sports facilities such (continued) 9/22/08
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(continued) as running paths, jogging, walking, and cross country skiing trails around a 6.4-acre lake; developer Donnelly Development LLC, 7700 France Ave S, Ste. 525, Edina, MN 55435, (952) 548-1420, www.donnellydevelopment .net. MISSOURI Florissant: Renovations to begin in the first quarter ‘09 on 1 million sq. ft. Jamestown Mall at Lindbergh and Old Jamestown Rd. in St. Louis County (See SCD, P. E750); former Dillard’s to be converted into back-office space and other tenants to be relocated; additional phases include The Residences at Coldwater Creek, a 200-unit senior-living community and 360,000 sq. ft. of suburban low-rise office, and a small service retail component; anchors Macy’s, Sears, and JCPenney; 113 stores; parking 5420 cars; opened ‘73; population 361,569 within 10 miles; average household income $52,039; developer Carlye Development Group, 2 Gannett Dr,Ste. 201, White Plains, NY 10604, (914) 694-6760. NEVADA Las Vegas: Planned 1 million sq. ft. of retail as part of the $700 million M Resort Spa and Casino currently under construction at Las Vegas Blvd and St. Rose Pkwy (See SCD, P. J155); highend department-store-anchored shopping mall to include a 14-screen, 63,000 sq. ft upscale movie theater slated to open by the end of ‘09; majority of the retail to be built above a 2,000 slip parking structure; the 11story M Resort will have 390 rooms and suites, 90,000 sq. ft. of gaming space, 40,000 sq. ft. of meeting and conference facilities, a 20,000 sq. ft. spa, a 2.3-acre pool and events area, a wine cellar and tasting room, a topfloor lounge and nine restaurants; opening ‘11 or ‘12; developer Taubman Centers, 200 E Long Lake Rd, Ste. 300, Bloomfield Hills, MI 48304, (248) 258-7616, www.taubman.com. Las Vegas: Plans unveiled for a long awaited Durango Station Resort and Casino on 70 acres at on Durango Dr, just S of the Las Vegas Beltway; initial phase to include a 190,000 sq. ft. shopping center, 201-room hotel tower, casino, meeting space, pool, restaurants, movie theater, and arcade;
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a second phase will include 525 hotel rooms; opening ‘11; developer Station Casinos, 1505 S. Pavilion Center Dr, Las Vegas, NV 89135, (702) 495-3000, www.stationcasinos.com. NEW JERSEY Secaucus: Construction has begun on a 14-screen Kerasotes ShowPlace Theater projected to open fall ‘09 at 4 million sq. ft. Harmon Meadow mixeduse project at Rt 3 and I-95 just three miles west of the Lincoln Tunnel (See SCD, P. I446); other tenants to open within the Harmon Meadows Mill Creek site include a Toys ‘R Us and Babies ‘R Us combo superstore and TJ Maxx to open in the fall and Sports Authority to open spring ‘09; company has also recently renovated the Plaza Courtyard; developer Hartz Mountain Industries, Inc, 400 Plaza Drive, PO Box 1515, Secaucus, NJ 07096-1515, (201) 348-1200, www.hartzmountain .com. NEW YORK Brooklyn: Proposed Sunset Park Marketplace on Third Ave between 30th and 32nd Sts in King County; existing eight-story Federal Building to be redeveloped into a complex of shops, business offices, and light manufacturing plants; in addition, an adjacent five-story building will be constructed and will contain stores and restaurants with a mixture of local and destination retail uses and parking facilities; opening ‘11; developer Time Equities, Inc, 55 Fifth Ave, 15th Fl, New York, NY 10003-4398, (212) 206-6000. OREGON Sunriver: Financial problem’s could delay the redevelopment of $200 million, 150,000 sq. ft. Sunriver Village Mall on more than 20 acres in Deschutes County; plans include up to 400 new condominiums, a 100-room hotel and adding 100,000 sq. ft. of new retail space to the existing mall which currently includes restaurants, a grocery store, sporting goods stores, and various shops; developer SilverStar Destinations LLC c/o Jon Harder of Sunwest Management, PO Box 3006, Salem, OR 97302, (503) 3759016, www.sunwestmanagement.com. SOUTH CAROLINA Rock Hill: Construction to begin in
about a year on Riverwalk on 1,000 acres on Cherry Rd, next to I-77 (former Celanese plant) in York County; project to include an outdoor shopping center with stores and restaurants, a business park with roughly 4 million sq. ft. of industrial space, homes, and football and baseball fields, an outdoor bicycle racing track known as a velodrome; project to take 10 to 15 years to complete; developer Greens of Rock Hill c/o Rock Hill development services director Bill Meyer, 155 Johnston St, PO Box 11706, Rock Hill, SC 29731-1706, (803) 3297012, www.ci.rock-hill.sc.us. TEXAS Austin: Vertical mixed-use redevelopment proposed for 145,000 sq. ft. The Village Shopping Center on Anderson Lane (See SCD, P. J46); project to include a six-screen movie theater, a 27,000 sq. ft. fitness center, roughly 88,000 sq. ft. of retail, and close to 100,000 sq. ft. dining including Cover 3: Dining, Spirits and Sports opening mid-October; existing tenants include Alamo Drafthouse, Body Business Fitness, the Academy of Oriental Medicine and a number of other businesses; developer Capital City Partners (Joe Lamy), 1717 W 6th St #370, Austin, TX 78703, (512) 4819669, joe@capcitypartners.com. Laredo: Infrastructure is nearly completed and negotiations underway to secure anchor and department store tenants for 800,000 sq. ft. to 1 million sq. ft. Piazza del Sol on 120 acres near I-35 and Loop 20 (See SCD, P. J46); outdoor high-end mall with upscale retailers; mixed-use element will include a residential element and a hotel, theater attractions and banking; opening spring ‘10; developer Levcor (Dan Smith), 9660 Katy Frwy, Houston, TX 77055, (800) 486-0366, Email: dsmith@levcor.com. North Oak Cliff: Five-year build-out plan in place and site work has begun for $150 million to $200 million La Reunion Town Center on 30 acres on three contiguous blocks, including a 6.4-acre parking lot at the city’s fabled Bronco Bowl; initial phase to include 300 rental units above 80,000 sq. ft. of retail; subsequent phases will add 220 rental units; construction could begin by mid-‘09 and is expected to take 14
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
to 16 months to complete; architect NCA Architecture Inc of Dallas, TX; contractor Galaxy Builders Ltd of San Antonio, TX; developer Henry S. Miller Commercial Co (Jimmy Pham and Kent Arnold), 5001 Spring Valley Rd, Ste. 1100 W, Dallas, TX 75244, (972) 419-4066, Email: jpham@henry smiller.com or karnold@henrysmiller .com VIRGINIA Richmond: Initial phase of $250 million, 911,000 West Broad Village mixed-use project may have already been completed on 118 acres at West Broad St; initial tenants include Whole Foods, Books A Million, REI, Wachovia, Old Navy and Dave & Busters; a second wave of openings, called the Flats, will be another retail component; future phases include a 135-key aloft hotel, and two office towers totaling 425,000 sq. ft., and addition 175,000 sq. ft. of street level office space, 339 apartment units, and 545 for-sale, single-family homes; developer Unicorp Development (Lisa Earnhardt), 7505 W Sand Lake Rd, Orlando, FL
32819, (407) 999-9985, Email: learnhardt@unicorpdevelopment.com. WASHINGTON Bellevue: Construction continues on 1.6 million sq. ft. Bravern on six acres at 110th Ave NE and NE 8th St (See SCD, P. J92); project includes 305,000 sq. ft. of luxury retail space anchored by Neiman Marcus 125,000 sq. ft., 750,000 sq. ft. of office space in two high-rise towers; and two 29-story residential towers containing 456 forsale apartments; upscale tenants include Bottega Veneta, Jimmy Choo, Louis Vuitoon, and John Howie Steakhouse Wild Ginger; parking 3100 cars; office to open mid-’08 and remainder of development to open by end of ‘09; developer joint venture Investcorp of New York, NY and Schnitzer Northwest LLC (Tom Woodworth), 225 108th Ave. NE, Ste. 400, Bellevue, WA 98004, (425) 4523700, Email: twoodworth@snwre .com; leasing Creative Retail Leasing (Wendy Silverman), 2048 N Mohawk St, Chicago, IL 60614, (312) 543-0386, Email: wendy2048@aol.com.
CENTERS WITH LEASE SPACE AVAILABLE ALABAMA Bessemer: 500,000 sq. ft. Colonial Promenade Tannehill on 87 acres at I459, Eastern Valley Rd and Pocahontas Rd (See SCD, P. J43); $75 million center anchored by Target, Publix Supermarket, and Premier Cinemas opened in July; tenants also include PetSmart, The Shoe Dept., Tollhouse Cookies and Gamestop; developer/ leasing Colonial Properties Trust, 5607-B West Friendly Ave, Ste. 100, Greensboro, NC 27410, (336) 2994737, www.colonialprop.com. ARIZONA Peoria: 355,000 sq. ft. Park West on 46 acres on Northern Ave at the NW corner of Loop 101 (See SCD, P. J192); open-air lifestyle center anchored by 14-screen Harkins Theatre has opened; stores and restaurants include Francesca’s Collections, Fleming’s Prime Steakhouse & Wine Bar, BJ’s Restaurant and Brewhouse; Scottsdale Jean Co, Auld Dubliner Irish Pub and
Blu Burger to open this fall; parking 1700 cars; population 138,000; average household income $52,000; developer/leasing General Growth Properties, 110 N Wacker Dr, Chicago, IL 60606-1116, (312) 960-5000, www.generalgrowth.com. CALIFORNIA Glendale: 1.5 million sq. ft. Glendale Galleria on 35 acres at Brand, Broadway, Colorado & Columbus in Los Angeles County (See SCD, P. I816); newest tenants Mac Ecko Cut & Sew menswear boutique, Juno New York Shoes, Peet’s Coffee & Tea, and Sorabol restaurant; anchors JCPenney, Nordstrom, Macy’s, Mervyn’s; 250 stores; parking 6214 cars; opened ‘76; population 1.38 within 15 miles; average household income $67,875; developer/leasing General Growth Properties, 110 N Wacker Drive, Chicago, IL 60606-1116, (312) 9605141, www.generalgrowth.com.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
FLORIDA Hollywood: 210,864 sq. ft. Hollywood Palms Shopping Center at Taft St and N 68th Ave; new owners; 94% leased; anchors Publix, Walgreen’s, Goodwill Industries, Bealls Outlet, Dollar General, and Rent-A-Center; renovated in ‘00; owner/leasing Millbrook Properties Ltd, 42 Bayview Ave, Manhasset, NY 11030, (516) 869-1240. Margate: 155,628 sq. ft. Penn Dutch Plaza; new owner; anchor Penn Dutch Food Center; owner/leasing joint venture DRA Advisors LLC of New York, NY and Equity One Inc, 1600 NE Miami Gardens Dr, Miami, FL 33179, (305) 947-1664. Plantation: 230,330 Plantation Marketplace; new owner; anchors WinnDixie and CVS; owner/leasing joint venture DRA Advisors LLC of New York, NY and Equity One Inc, 1600 NE Miami Gardens Dr, Miami, FL 33179, (305) 947-1664. GEORGIA Marietta: 134,000 sq. ft. Sprayberry Square Shopping Center open community center at Sandy Plains Rd and E Piedmont Rd in Cobb County (See SCD, P. J86); seeking high-end retail and service-oriented retail; 972 sq. ft. to 8,800 sq. ft. available; anchor LA Fitness 45,000 sq. ft.; other tenants include Rita’s Water Ice and Pizza Hut parking 700 cars; average household income $110,186; developer/leasing DLC Management Corp (Michael Puline), 1720 Peachtree St NE, Atlanta, GA 30309, (404) 817-3772, Email: mpuline@dlcmgmt.com. ILLINOIS Glenview: 62,815 sq. ft. Glenbrook Market Place at NE corner of Willow and Pfingsten Rds; new owners; 95% leased; anchor Walgreens; tenants include BoRics, Merry Richard Jewelers, Cartridge World, Jimmy John’s Gourmet Sandwichs and MB Financial Bank; the is also a separately owned LaSalle Bank outparcel; opened ‘92; owner/leasing Newport Capital Partners (Derrick E. McGavic), 5750 Old Orchard Rd, Ste. 410, Skokie, IL 60077, (312) 504-4450, Email: errick @newportcapitalptrs.com. NEW YORK Niagara Falls: 530,000 sq. ft. Fashion (continued) 9/22/08
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(continued) Outlets Niagara Falls at Niagara Falls Blvd & Military Rd in Niagara County; $28 million recapitalization in place; anchors Marshall’s and Saks; 150 stores include Polo Ralph Lauren, Brooks Brothers, Nike, Ann Taylor, Tommy Hilfiger, Coach, Old Navy, Burberry, Geoffrey Beene, and Revlon; parking 2601 cars; opened ‘82; population 1.18 million within 30 miles; average household income $42,000; developer/leasing Talisman Companies (Arthur Weiner), 4000 Ponce de Leon Blvd, Ste. 420, Coral Gables, FL 33146, (305) 662-9559, Email: arthur@awetalisman.com. PENNSYLVANIA Pottsville: 600,000 sq. ft. Fairlane Village Mall on 40 acres at Rt 61 and Ann St in Schuylkill County (See SCD, P. I477); newest tenants Harbor Freigh Tools and Super Shoes; anchors Boscov’s, Value City, Lowe’s; 53 stores; parking 3000 cars; opened ‘75;
population 36,939 within five miles; average household income $51,183; leasing Levin Management Corp, 893 Rt 22 W, North Plainfield, NJ 07060, (908) 755-2401, www.levinmgmt .com. Washington: $90 million, 370,000 sq. ft. Tanger Outlet Center along I-79, near The Meadows Racetrack and Casino in Washington County (See SCD, P. J129); $90 million outlet center opened in August; 75 tenants include Calvin Klein, Gap, Nike, Banana Republic Factory Store, Children’s Place, Harry and David, Skechers, Wilson’s Leather Outlet, and Reebok; developer/leasing Tanger Factory Outlet Centers, Inc, 3200 Northline Dr, Ste. 360, Greensboro, NC 27404, (336) 292-3010, www. tangeroutlet.com. TEXAS Austin: 244,242 sq. ft. Brodie Oaks Shopping Center on 8.5 acres at on S Lamar Blvd, near U.S. Hwy 290 and
TX 360 (See SCD, P. G226); new owners; 90% leased; anchors Neiman Marcus Last Call and Sun Harvest Market; other tenants include Hobby Lobby, toys ‘R Us, Tuesday Morning, Sally Beauty, Starbucks, Olvie Garden, Chili’s, Pei Wei Asian Diner and Fuddruckers; opened ‘83; owner L&B Realty Advisors LLP of Dallas, TX; owner/leasing Barshop & Oles, 801 Congress Ave, Ste. 300, Austin, TX 78701-2438, (512) 477-1212, www. barshop-oles.com. VIRGINIA Williamsburg: 176,000 sq. ft. Williamsburg Marketcenter on Mooretown Rd in York County; new owner; a few remaining spots open; anchors Home Depot, Petco, Ross Dress for Less, and Ukrop’s; developer Richard Waitzer, Virginia Beach, VA; leasing CB Richard Ellis Retail Services, 4365 Executive Dr, Ste. 1600, San Diego CA, CA 92121, (858) 646-4718, www.cbre.com/retail.
RETAILERS SEEKING SPACE APPAREL Ann Taylor, Loft, Ann Taylor Factory, and 10 Loft Outlets div. of Ann Taylor Stores Corp of 1372 Broadway, 12th Fl, New York, NY 10018; currently operating 959 stores including 345 Ann Taylor stores, 519 Loft stores, 85 Ann Taylor Factory stores, and 10 LOFT Outlets in 46 states, DC, and PR; plan to open 66 new stores, including 25 Loft , 23 Factory, 14 Loft Outlets, and 4 Ann Taylor stores. Real Estate Director, (212) 536-4364, Fax (212) 536-4182. Chico’s FAS Inc, dba Chico’s, White House/Black Market and Soma of 11215 Metro Pkwy, Fort Myers, FL 33912; currently operating 1,079 stores in 49 states, DC, PR and U.S. Virgin Islands; company plans to relocate/ expand between 8 and 10 stores over the balance of the year; Chico’s will open eight stores, White House| Black Market will open 11 units and Soma will open 1 store; seeking 3,300 sq. ft. for Chico’s and 2,600 sq. ft. for White House|Black Market in malls, lifestyle centers and streetfronts. Michael Elleman, SVP Real Estate, (941) 2276200, Fax (941) 274-4259, Email:
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mike.elleman@chicos.com. Gap, Inc dba Gap, Old Navy, and Banana Republic of 900 Cherry Ave, San Bruno, CA 94066; currently operating 3,167 stores throughout the U.S., Canada, Britain, and internationally; plan to open 100 new stores this year. Real Estate Director, (650) 952-4400, Fax (650) 874-7821. Gilly Hicks a div. of Abercrombie & Fitch of 6301 Fitch Path, New Albany, OH 43054; currently operating nine underwear shops throughout MA, NY, MN, IL, CT, CA, FL, and WA; plan to open 10 new units in ‘08; seeking 7,000 sq. ft. to 10,000 sq. ft. in enclosed malls nationwide. Jeff Sinkey, SVP Real Estate, (614) 283-6399, Fax (614) 283-8399, Email: jeff_sinkey@ abercrombie.com. Rainbow, Rainbow Plus, Rainbow Kids, One Price, Kidsport, Caren Charles, Fashion Cents, Best Price, Foxmoor, Emphasis, and Ups N Downs div. of Rainbow Apparel Cos of 1000 Pennsylvania Ave, Brooklyn, NY 11207; currently operating 1,000 stores nationwide; plans 250 locations over the next 18 months; seeking 1,800 sq. ft. to 10,000 sq. ft. in downtown
areas, strip centers and malls. Andre Nikol, (718) 485-3000, Ext. 223, Fax (718) 485-3807, Email: anikol@ rainbow-mail.com. Rue21 of 800 Commonwealth Ave, Warrendale, PA 15086; currently operating 415 specialty value teen retail shops in 41 states; plan to open 100 stores this year; seeking 3,000 sq. ft. to 4,000 sq. ft. in community strip centers, regional malls, and outlet centers nationwide. Robert Thompson, SVP Real Estate, (724) 776-7626, Fax (724) 776-3580, Email: rthomson@ rue21.com. Urban Outfitters, Inc dba Urban Outfitters and Anthropologie, Free People, and Terraine of 1809 Walnut St, Philadelphia, PA 19103; currently operating 122 Urban Outfitters units, 100 Anthropologie stores, and 13 Free People stores throughout the U.S., Canada and Europe; in addition, first Terrain garden store and related home goods opened this year; company plans to open 45 stores for the fiscal year ending Jan 31, ‘09; seeking 9,000 sq. ft. to 10,000 sq. ft.; Free People locations require 2000 sq. ft.; seeking community mall, downtown, free-
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
standing, lifestyle, and ‘A’ mall sites; company is also formulating a fifth concept called Leifsdottir high-end women's apparel chain. Glen A. Bodzy, (215) 454-5500, Fax (215) 454-4660, Email: gbodzy@urbanout.com. BOOKSTORES Barnes & Noble Inc of 1501 LBJ Frwy, Ste. 290, Dallas, TX 75234; currently operating 650 stores nationwide; 20 to 25 new store openings planned for ‘09; seeking 25,000 sq. ft. in malls, strip centers, and freestanding locations ion existing markets. David Deason, VP, (972) 8924208, Fax (972) 484-4488, Email: ddeason@bn.com. DEPARTMENT STORES JCPenney of PO Box 10001, Dallas, TX 75301-2105; currently operating 1,083 units throughout the U.S. and PR; company plans 35 new or relocated stores in ‘08 primarily in its 100,000 sq. ft. off-mall format; company will open 12 stores in the third quarter, 11 of them in the off-mall format; seeking 150,000 sq. ft. for mall stores, chain also continues to expand its Sephora in-store makeup boutiques, and will open 10 locations in the third quarter for a total of 91. Paul Freddo, VP, Director of Real Estate, (972) 4311738, Fax (972) 431-1626, Email: pfreddo@jcpenney.com. DRUG STORES CVS Caremark Corp of One CVS Dr, Woonsocket, RI 02895; currently operating 6,150 stores nationwide; company plans to open 32 new units in the fourth quarter; seeking 10,880 sq. ft. to 13,000 sq. ft. in freestanding and downtown sites; company is testing a high-end beauty store concept called “Beauty 360” that would carry 32 lines of skincare, cosmetics, and fragrances that will be build next to existing CVS Pharmacies in Washington, DC and Sacramento, CA. Robert E. Nault, Region VP, (401) 770-4310, Email: renault@cvs.com. FOOD, CANDY, ICE CREAM Boloco of 135 Massachusetts Ave, Boston, MA 02115; currently operating 13 fast-casual restaurants offering burritos, smoothies and salads in and around Greater Boston and New England; plan to open three or four units this year and five, six or seven in
‘09; seeking 1,000 sq. ft. to 3,000 sq. ft. in existing markets. Paul F. Gibbs, Director-Development, (617) 8302257, Fax (617) 942-5585, Email: gibbs@boloco.com. Bruegger’s Bagel Bakery of 159 Bank St, PO Box 374, Burlington, VT 054020374; currently operating 280 units in 27 states; development agreement signed with Hart Street LLC (Ghias Bhuiyan and Sami Kabir) to open 20 bakery-cafes in New York City over the next seven years; seeking 1,500 sq. ft. to 2,500 sq. ft. in urban/downtown areas, freestanding locations, and strip, mixed-use and tourist centers nationwide. Joe Weith, Director of Real Estate, (802) 660-4020, Ext. 274, Fax (802) 652-9293. Email: jweith@ brueggers.com. Einsteins Bros. Bagels, Manhattan Bagel, Chesapeake Bagel Bakery, and Noah’s New York Bagles div. of Einstein Noah Restaurant Group Inc of 555 Zang St, Ste. 300, Lakewood CO, 80228-1013; currently operating 472 locations in 32 states and DC; expanding, including plans for up to five more locations in TX; seeking 3,200 sq. ft. in freestanding locations, endcaps, and inline spaces. Keith P. Isoldi, (303) 568-8108, Email: kisoldi @einsteinnoah.com. Maid-Rite Corp of 2951 86th St, Des Moines, IA 50322-4201; currently operating 83 diners featuring “loose meat” sandwiches throughout IA, IL, MN, MO, KS, MI, NE and WI; plans to open 50 locations within the next 15 years; seeking 1,500 sq. ft. to 1,800 sq. ft. in shopping centers with high visibility; targeting Phoenix, but is also considering areas of the Southwest, West and FL. Real Estate Director, (515) 276-5448, Fax (515) 276-5449, Email: maidrite@maid-rite.com. Marble Slab Creamery, Inc of 3100 S Gessner, Ste. 305, Houston, TX 77063; currently operating 391 units in 34 states, PR, Canada, and internationally; plans to open five to ten locations per year through Greater Toronto Canada (GTA); seeking 800 sq. ft. to 1,300 sq. ft. in enclosed malls, streetfronts, strip plazas, and power centers; site near universities and in downtown office bldgs will be considered; Chris (John) Elliott, (713) 780-3601, Fax (713) 780-0264, Email:
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
(845) 348-7000
celliott@marbleslab.com; for GTA, contact Colliers International (Mary Mowbray), One Queen St, E, Ste. 2200, Toronto, ON M5C 2Z2 (416) 777-2277, Email: mary.mowbray@colliers.com OPA! Souvlaki of 618-7015 McLeod Trail SW, Calgary, AB T2H 2K6; currently operating 60 locations in Canada, as well as a small number of sites in the U.S.; Greek and Mediterranean quick-service food operator is in aggressive expansion mode; seeking 350 sq. ft. to 450 sq. ft. in food courts; 1,400 sq. ft. to 1,600 sq. ft. for streetfront locations and in-line sites Canadawide, primarily ON. Jeff Young, VP Franchise Development, (647) 297-3935, Email: jyoung@ opasouvlaki.ca. HOME IMPROVEMENT Lowe’s Companies, Inc of PO Box 1111, Mooresville, NC 28659-1111; currently operating 1,577 stores throughout the U.S. and Canada; plan to open 38 new stores in the third quarter; seeking 116,000 sq. ft. with an additional 30,000 sq. ft. garden center in freestanding sites, power centers, enclosed malls, and strip plazas. Director of Real Estate, (336) 658-4775, Fax (336) 658-7235, www.lowes.com. OFFICE SUPPLIES Staples and Staples Express of 500 Staples Dr, Framingham, MA 01702; currently operating 1,802 locations throughout North America; plan to open 100 North American stores in freestanding buildings, shopping centers, and downtown/street-front locations. John Barton, EVP, Real Estate, (508) 253-5000, Fax (508) 2538951, Email: john.barton@staples .com. SPECIALTY PetsMart Inc dba PetsMart and PetsHotel of 19601 N 27th Ave, Phoenix, AZ 85027-4008; currently operating 1,075 pet stores throughout the U.S. and Canada; plan to open between 60 and 65 new stores in ‘09, and 50 to 60 new stores in ‘10 and beyond; company will open 35 PetsHotel in-store pet care centers annually. Doug Lehn, Director, Real Estate Lease Administration, (623) 587-2501, Fax (623) 580-6512, www.petsmart.com. 9/22/08
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"The Locations Newsletter" Box 837, Nyack, NY 10960
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CLASSIFIED Net Leased Properties Available
Hannaford Brothers/Delhaize Group with significant rental Increases $8,000,000 • Ground lease with Investment grade tenant • 20% rent bumps in 2013 and 2023. 10% bumps over each of four five-year option periods following • Metro Boston • 50% leverage @ 5.19% with non CMBS bank lender CVS - $4,000,000 • Ground lease with Investment grade tenant • 10% rent bumps over five, 5-year option periods • Central Connecticut suburb
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F OR SALE: NNN LEASED PROPERTIES NY-Upstate: Six (6) Walgreens. $4M-$6.7M. 6.4%-6.8% CAPs. KY: Second largest U.S. Grocer. $3.8M. 7.37% CAP. 20 years. PRINCIPALS ONLY CONTACT:
ROBERT P. CORSO & CO. 212-687-9300 robertcorso@aol.com
8%-9% caps
Long term, Absolute Net Leases South & Southeast US
Shoney's Restaurants
Walgreen's - $4-9,000,000 • Multiple new NNN leases • New England and Midwestern locations Richard C. Liljedahl, CRE • Brokerage Division
Seller financing available 972-934-0972x103 or email mike.gorham@sholandllc.com
860-280-6580 • rliljedahl@netleasecapital.com
Net Lease Capital Advisors AN INVESTMENT BANKING APPROACH TO REAL ESTATE TRANSACTIONS
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For Sale - Walgreens In Rochester, NY Area 25 Year NNN Lease No Landlord Responsibilities Rent Commences February 2009 $5.7M / 6.72% Cap Contact Rosemary @ 315-471-5462 rbeshures@westlakedev.com
Montville, CT Route 32 opposite Super Stop & Shop. New CVS to be built. $5,700,000 The Proto Group, LLC 203-234-6371
FOR CLASSIFIED ADVERTISEMENTS For Help Wanted, Positions Wanted, Sites Available, Space Available, Business Opportunities, Services, Shopping Centers For Sale, Etc. Cost: $95.00 per column inch. Discounts for multiple insertions; Box charge $5.00 per insertion.
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PUBLIX Gas Station G L, FL 6.25% cap - $1.3 million MARSH Supermarket - Indiana 8.9% COC to 10.79% COC in 2011 BI/LO Supermarket-Alabama 7.73% COC to 9.17% COC in 2011 RITE AID - NORTH CAROLINA 7.5% COC w/ $1.5 million down Also: McDonald's, 7-Eleven, Dunkin Donuts, Burger King Net Leased Investment Co. (407) 977-2448 www.netleased.com NNN PETSMART $5,525,000 6.25% CAP Busy Power Center in MD 10+ Year Lease Lindsay Scherr, CBCNRT (312) 399-3194 Principals Only
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©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
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We think in square feet. Booth 113 - PA/NJ/DE Idea Exchange Booth 323 - Southeast Conference Booth 1224, 1226 - Chicago Deal Making
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MID-ATLANTIC Pennsylvania Levittown- Levittown Town Center- New Development! SOUTHEAST Florida Jacksonville- Monument Landing Georgia Jonesboro- Crossroads South Jonesboro- Tara Crossing Lawrenceville- Lawrenceville Town Center Marietta- Sprayberry Square Norcross- Tree Trail Village Stone Mountain- Stone Mountain Square North Carolina Durham- Shoppes of Hope Valley Raleigh- Tower Shopping Center Tennessee Lebanon- Cedars Square MIDWEST Illinois Carbondale- University Place DeKalb- Northland Plaza Mt. Vernon- King City Square Oakbrook- The Oaks of Oakbrook Oak Lawn- Coral Plaza Nebraska Lincoln- East Park Plaza Ohio Cincinnati- Skytop Pavilion - New Acquisition! Columbus- Northern Lights Shopping Center Trotwood- Salem Consumer Square
Anchors
Available SF
Wal-Mart Supercenter, Ross Dress for Less
1,500 - 7,200 SF
Walgreens, Anchor Space Available
900 - 29,000 SF
Kroger, K-mart Little Giant, Chuck E. Cheese Kroger, Rainbow LA Fitness- Redevelopment Publix TJ Maxx, Marshall’s, Ross Dress for Less
1,000 - 3,280 SF 1,180 - 25,000 SF 990 - 4,238 SF 972 - 8,800 SF 1,300 - 7,000 SF 860 - 16,500 SF
Kroger, CVS, Family Dollar Food Lion, Big Lots, Conway
1,600 - 3,933 SF 1,615 - 3,190 SF
Wal-Mart Supercenter
2,100 - 5,000 SF
Dick’s Sporting Goods, Best Buy Bed Bath & Beyond, Borders, JC Penney Kroger, Dollar Tree Panera Bread, Tweeter, Wells Fargo Cardinal Fitness, Fedex Kinkos
1,500 - 40,000 SF 1,991 - 19,688 SF 1,400 - 12,500 SF 1,200 - 8,045 SF 1,037 - 6,045 SF
Big Lots, Russ’s Market, Famous Footwear
1,200 - 25,000 SF
Bigg’s Supermarket, Urban Active Fitness Kroger, A.J. Wright, Citi Trends Cub Foods, Office Depot
2,000 - 4,200 SF 2,256 - 40,805 SF 1,250 - 25,025 SF
Corporate Headquarters- 580 White Plains Road, Tarrytown, NY 10591 - 866.DLC.MGMT Southeast Leasing- Mike Puline- mpuline@dlcmgmt.com . Midwest Leasing- Geoffrey Kerth- gkerth@dlcmgmt.com Nationwide Leasing- Michael Cohen- mcohen@dlcmgmt.com
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