ICSC CONVENTION ISSUE "The Locations Newsletter" Published Twice Each Month
Vol. 36, Nos. 8 & 9
Box 837 Nyack, NY 10960 Murray Shor - Editor & Publisher
April 28, 2008
(845) 348-7000, (800) 211-6858
$349 per year
Trade Secret Becomes PureBeauty
Regis Corporation is making over Trade Secret s .EW %URO CHIC DESIGN s %XCITING NEW LINES s "RAND NEW NAME
We have salon brands for every type of real estate Owner of the most recognized salon brands in the world: Supercuts, Regis Salons, MasterCuts, Cost Cutters, Sassoon Salon, Pro-Cuts, First Choice Haircutters, Style America, HairMasters, BoRics, Magicuts, Famous Hair, Fiesta Salons, Best Cuts, Saturday's, Holiday Hair, TGF, ÂŠSHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960 (845) 348-7000 Head Start, and many more.
J105 1-952-947-7777 s 4/28/08 www.regiscorp.com
EVERYTHING. TO MAKE IT HAPPEN, YOU NEED ONE THING.
BUILDING. DEVELOPING. LEASING. MANAGING. PARTNERING. WHEN CITIES BUILD, REVITALIZE OR EXPAND, THERE’S ONE CITY THEY LOOK TO. ALBUQUERQUE
THE VILLAGE AT GULFSTREAM PARK HALLANDALE BEACH, FL GRAND OPENING – 2009
KONTERRA TOWN CENTER WASHINGTON DC GRAND OPENING – 2012
THE SHOPS AT WHITE OAK VILLAGE, RICHMOND, VA AND THE SHOPS AT WIREGRASS, NORTH TAMPA, FL WILL BE UNVEILED THIS YEAR, GRAND OPENING 2008.
w w w . f o r e s t c i t y . n e t NEW YORK
NEW AND EXPANDING CENTERS OVER 501,000 SQ. FT. (Unless mentioned otherwise, all are enclosed, air-conditioned malls)
ARIZONA Tucson: Construction continues on 850,000 sq. ft. Oro Valley Marketplace on 115 acres at Oracle and Tangerine Rds in Pima County (See SCD, P. I941); anchors Best Buy, Linens ‘N Things, Cost Plus and Wal-Mart Supercenter; parking 5068 cars; developer Vestar Development Co (David Malin), 2425 E. Camelback Rd, Ste. 750, Phoenix, AZ 85016-4220, (602) 866-0900, Email: dmalin@ vestar.com CALIFORNIA Thousand Oaks: Expansion will include a new cinema at 1.1 million sq. ft. The Oaks on 90 acres at Lynn Rd and Ventura (101) Frwy in Ventura County (See SCD, P. I787); anchors
JCPenney, Macy’s, Macy’s Mens & Home, Robinsons-May; 140 stores; parking 4622 cars; opened ‘78; population 168,000 households within 15 miles; average household income $109,000; architect Behr Browers Architects of Westlake Village, CA; developer Macerich, 401 Wilshire Blvd,
didja hear...??? Dominick’s, the 82-unit supermarket chain owned by Safeway, will spend more than $200 million renovating 50 of its Chicago-area stores into its new “lifestyle” format which focuses more on convenient ready-toeat-foods, fresh-baked goods and pro-
Strolling the AGORA By Murray Shor The foundation of this industry, and in many respects its most important part—though not as sexy as the large regional malls or the latest darlings, the mixed-use and lifestyle centers—is your common, basic strip anchored by a supermarket at one end. It rises or falls based on the strength of its grocery store, considered one of the most competitive cat-
TABLE OF CONTENTS New and Expanding Shopping Centers Over 501,000 Sq. Ft. ............................... Strolling the Agora ..................................... Didja Hear??? .............................................. Financial/Sales Results ............................. New And Expanding Shopping Centers 201,000-500,000 Sq. Ft. .......................... New And Expanding Shopping Centers Up to 200,000 Sq. Ft. .............................. Upscale, Specialty, Urban Mixed-Use ...... Centers With Lease Space Available ...................................... Retailers Seeking Space ............................ Classifieds ...................................................
J61 J61 J61 J68 J76 J84 J89 J92 J95 J98
Ste 700, Santa Monica, CA 90401-1207, (310) 394-6000, www.macerich.com. Walnut Creek: Demolition and renovation to make room for a 100,000 sq. ft. Neiman Marcus slated to open in late ‘10 or early ‘11 at 700,000 sq. ft. Broadway Plaza on 30 acres at Mt. (continued on P. J70)
egories in the retail environment, and one of the most resilient. A noteworthy point to be considered, however, is that the largest food retailer in the U.S. is not really a supermarket chain, but a discounter: WalMart. Despite its overshadowing presence over the entire panorama of shopping-- local, regional and what can be considered national--supermarket chains have been able to operate successfully and have even expanded in the face of this inroad into their traditional territory. Growing Stress With the economy sliding into a recession, according to many, there are growing stresses on the entire shopping center/retail industry, with supermarkets only one of the segments beginning to feel the heightened pressures: . Surging fuel prices are contributing to skyrocketing distribution and productions costs that are affecting the basics at the cash register: groceries prices overall up 5.1% from last year, eggs up 24%, milk up 26%. (continued)
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
duce, and an enhanced organic food lineup...Denver, CO-based Vicorp Restaurants Inc, which operated more than 300 Village Inn and Bakers Square restaurants in 25 states has filed for Chapter 11 bankruptcy and has closed 56 under-performing corporate-owned restaurants across the country...Brett Sheets has joined Cole Cos as VP-leasing; he had been with Cold Stone Creamery...Simon Property Group says it will invest $450 million to renovate and expand several of its Boston-area shopping malls (continued) RETAILERS SEEKING SPACE Page J95 - J97 • Baltimore Coffee & Tea Company • Charming Shoppes Inc, dba Lane Bryant, Fashion Bug, and Catherine's • Cinetopia • Coffee Culture Cafe & Eatery • Cuppy's Coffee & More • Designs of the Interior • Dollar General • EQ3 Furniture and Accents • First Choice Haircutters and Supercuts • Fresh & Easy Neighborhood Markets • Hibbett Sports • JuiceBlendz • L.L. Bean • Leeann Chin • Mandarin Express • Moonstruck Chocolate Company • Ross Dress for Less and dd's Discounts • Shakey's Pizza • Shoppers Drug Mart • Talbot's and J. Jill • Tiffany & Company Collections • Trade Secret (Pure Beauty) • Urban Outfitters, Anthropologie, FreePeople, and Terrain • Wal-Mart Stores and Sam's Club • Williams-Sonoma, Pottery Barn, and West Elm
Strolling the AGORA
(continued) . With a reduced buying power, many shoppers are cutting back on such foods as meat, fruit, vegetables, snacks, and becoming more price-conscious; . Despite price-cutting at discounters and supercenters reacting to customers who are becoming more price conscious, food prices at Wal-Mart are still soaring, up 2.5% in February from January. . Speak to the major landlords and development costs—taxes, financing, construction, necessary governmental approvals, etc., etc—are all factors forcing them to seek higher rents and CAM charges from tenants. Without continuing this litany of supporting statistics from the glaring headlines of daily newspapers and other media, the point has been made that supermarkets are being squeezed on many fronts. Now, how are these factors impacting on their need to grow, to open new stores, to expand into new markets, to make new real estate/leasing deals? Whether these operators will reconsider if conditions worsen in the future, as of now, many are continuing with their short-range and long-range plans. Kroger, says Terry Evans, plans to open 40-50 new supermarkets per year and will continue with its capital spending. Aldi, the German-based discount grocery chain, is continuing with its push into New England, with an emphasis, for now, on Rhode Island. Three Months On Hold British-based Tesco’s last November began opening its first of 59 smaller Fresh & Easy stores in CA, AZ, and NV, and put its expansion on hold for 3 months. “We’ve given ourselves a little bit of time to kick the tires, smooth out any wrinkles, and make some improvements that customers have asked for,” said Simon Uwins. It plans to have 200 stores in the US by February 2009. Though it won’t comment on results yet, it is understood that sales are below expectations, even though, according to one source, prices are 30% cheaper than traditional grocery stores.
Safeway’s Dominick’s division, with 82 units in the Chicago market, is investing $200 million into upgrading these stores into the new lifestyle format and should have 50 of them operating by the end of the year. Sdano’s Supermarkets of Miami isn’t concerned by the competition from larger chains. Since it caters to the Hispanic market, “we carry products that no other [operators] carry,” said Damon Del Rossi. It will open two to three units this year in South Florida and then will begin expanding into other areas in the state. Such high-end operators as Trader Joe’s and Whole Foods, whose sales per sq. ft. are close to double that of traditional supermarket chains, are continuing, also, with their expansion plans, but may cut back to less than 10% growth annually. New Threats Though some inroads have been made by online grocery sales in major cities, such as Net Grocer and even Amazon.com, it has not resulted yet in any significant change and loss of market share. Some traditional chains, such as Von’s and Albertson’s, enable customers to shop through the internet and then have groceries delivered to the house or picked up at the store. But there are always new threats on the horizon. Several of the dollar store chains have been selling lowend, fast-moving foodstuffs for years, soups, snacks, condiments, soda, and the like. Family Dollar, one of the larger of these operators, is reacting to
the current economic downtown and is expanding the selling space in its 2,700 stores to accommodate more foodstuffs. In addition, there is a growing trend to shop green, with consumers heading for farmers’ markets and emphasizing buying locally-raised and organically-produced fruits, vegetables, dairy, meats, etc. Supervalu, as a reaction to this and in an effort to retain its customers, is creating a new line of organic and natural foods, called Wild Harvest, which will carry about 150 items, and ten expand to 250-300 items. The price is supposed to be about 15% less than similar, name-brand organic foods. An interesting point made by several dealmakers, is that the biggest growth segment of the shopping center industry is that of large-scale mixeduse projects and “towns and lifestyle” centers. Many may contain facilities for high-end shopping, hotels, entertainment, restaurants, offices, convention centers, medical facilities; however, a good number do not include basic amenities as supermarkets and convenience stores. One traditional supermarket operator we spoke to acknowledged that these and other factors above deserve some concern. “However,” he continued, “long-range, there is substantial population growth throughout the country as a whole. These people have to be fed, and we’ve been doing a pretty good job in the past and will continue to serve them in the future.”
Sales Set Record At Convenience Stores Sales at convenience stores last year set a record high of $577.4 billion last year, but profits dropped by $1.4 billion, largely because of higher credit card fees, according to the National Association of Convenience Stores. Overall, industry revenues were up 1.4%, leveling off from a soaring decade of growth which
saw revenues grow over 300% from $174.2 billion, it said. Fees for credit card sales was the biggest concern for these retail operators, said NACS. These costs escalated 15.2%, or $1 billion, to a total of $7.6 billion. At the same time, pre-tax profits dropped by roughly the same amount, $1.4 billion to $3.4 billion.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
Peninsula Town Center Hampton, Virginia
At the Peninsula Town Center, , major department stores with leading specialty shops and top restaurants will overlook beautifully landscaped parks, where children can play and parents can enjoy concerts and cultural arts performances. There will be city streets with curbside and convenient structured parking that also serve office tenants and entertainment patrons, and multiple story, multifamily residences, where downsizing baby boomers, young marrieds and singles of all ages can establish new homes. 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 and a trend setter for the nation. It will be the centerpiece of Hamptonâ€™s vital Coliseum Central district which has attracted over $1.5 billion in commercial, high-tech and high-end residential development which will be completed in 2009. Mall Properties is proud to propose this visionary plan for the 21st century, a project that by its very scope and ingenuity stares forcefully the companyâ€™s desire to remain a trusted civic partner for decades to come. Times have changed, but the relationship between Hampton, the Virginia Peninsula and Mall Properties has not. In conjunction with Steiner + Associates, the nationâ€™s pre-eminent developers of the town center concept, that relationship will continue to evolve and grow through the exciting development of the Peninsula Town Center.
Conceiving and Developing Quality Real Estate for Over Thirty Seven Years
Peninsula Town Center Hampton, Virginia
A Joint venture of
Mall Properties, Inc. and Steiner + Associates
Mall Properties, Inc. 654 Madison Avenue New York, NY 10065 Telephone: 212.935.1330 Fax: 212.832.5369 E-mail: firstname.lastname@example.org 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.
Akers Mill Square (400,000 sf)—Cobb County, Atlanta Bed Bath & Beyond, Sports Authority, Toys ‘R’ Us, OfficeMax, Circuit City
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
West Plaza, Glendive—Kmart
Fashion Center, Paramus—Bed Bath & Beyond, T.J. Maxx
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
St. David’s Square (217,000 sf)—St. David’s, Philadelphia T.J. Maxx, Bed Bath & Beyond, MJM Designer Shoes, Genuardi’s, Micro Center
Mercury Plaza (350,000 sf)—Hampton Texas Steakhouse & Saloon, Cracker Barrel Old Country Store, Wachovia Bank, Ruby Tuesday Coliseum Square (43,000 sf)—Hampton
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
Visit our booth: C1707, 17th Avenue, RECon, Las Vegas
(continued) including a new 85,000 sq. ft. wing at the Burlington Mall in Burlington, MA, and a new 165,000 sq. ft. wing at the Northshore Mall in Peobody, MA, – both new wings will be anchored by Nordstrom...CA-based Baja Fresh Mexican Grill with over 300 U.S. locations has appointed Oakville, ONbased The Lincoln Group to assist in site selection throughout Canada. For leasing inquiries contact Richard Niblett, Email: richardniblett@cogeco .com... Cheshunt, England- based Tesco Plc, has put the expansion of its Fresh & Easy stores in the U.S. on hold for three months; it opened 68 stores in CA, AZ and NV by Feb,and still plans to have about 200 U.S. stores by Feb ‘09...Louisville, KY-based Papa John's pizza delivery chain has signed development agreements with four franchisees to open 57 locations throughout Canada. For Atlantic Provinces contact PJ Atlantic Franchising, Ltd; for Saskatchewan, contact "The Locations Newsletter"
Tel: (845) 348-7000
Editor-Publisher ................................. Murray Shor, Ext. 201 .................. email@example.com Managing Editor ............................ Jennifer O'Neill, Ext. 250 ........ firstname.lastname@example.org 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.
MJ Taylor Holding Co; for Western ON, contact Bajco LLC; and for Eastern ON, contact PDR Associates, Inc...CLC Associates has hired Daniel Madruga as project manager in its Denver, CO, office...Hillboro, ORbased Pizza Schmizza, which operates 31 franchises throughout OR, WA, ID, and CA has been sold to Salem, OR-based Figaro's Italian Pizza which operates over 100 restaurants in 21 states...Virginia Beach, VA based Lillian Vernon catalog and online retailer has bee acquired by Colorado Springs, CO-based Current USA, a subsidiary of Taylor Corporation ...Regency Centers Corp says it is making an effort to go green, and will seek LEED certification for 20% of its new developments this year, 40% in 2009, and 60% thereafter...Dave Hokanson joins Robertson Properties Group as VP- real estate development; he had been with the Macerich Co...Forest City Enterprises, which ended ‘07 with $2.2 billion of projects under construction, and an additional $1.5 billion this year, says it will delay projects over $1 billion due to “the challenging economic environment” ...Clifton, NJ-base ARC Properties, Inc has sold a total of 26 retail properties in 10 states to unidentified buyer(s), but will continue with the development of a 450,000 sq. ft. Lowe's Home Improvement and ShopRite anchored center in NJ and another shopping center anchored by Giant Food Store and Home Depot in Willow, PA...Lori McWeeney is joining WS Development as director of leasing; she had been with The Wilder Cos...Architecture and Planning company, KTGY Group, Inc has hired Lalaine Tanaka as principal of the company's Irvine, CA, office; previously Tanaka was a design director of a major Orange County architectural firm and her clients included General Growth, O&S Holdings, and Vestar Development Co...According to Forrester Research, more than 74% of US consumers have shopped online, and only 9% of these have been doing it for less than a year; the more experienced
shoppers spent on average $1,020 in the last three months, compared with $330 for new- comers...Terri Thompson has joined Chattanooga, TN-based Wolford Development Inc as director of property management; prior to joining Wolford, Thompson was with Edens & Avant...Prime Retail has appointed Karen Fluharty SVP of marketing and Caroline Bradley as VP of Marketing; previously Fluharty was with Chelsea Property Group... Weingarten Realty Investors has joined with AEW Capital Management to raise $229 million by recapitalizing a shopping center portfolio of 2.1 million sq. ft. consisting of 13 supermarket-anchored shopping centers, 1 regional power center, and 4 neighborhood centers...Following an earlier announcement by Children's Place that it is exiting the Disney Store business and plans to sell about twothirds of the 335-unit chain to the Walt Disney Co, Hoops, Inc, the Children's Place Retail Stores-owned by a subsidiary that controls Disney Store North America, is filing for Chapter 11 bankruptcy project...CA-based shopping center development firm NewMark Merrill Companies has opened NewMark Merrill Mountain States in Fort Collins, CO, and plans to be involved in at least 10 shopping center projects throughout the Rocky Mountain region over the next few years; the new division will be lead by Allen Ginsborg, a co-founder of CAbased Pacific Retail Partners.
Belgian Restaurant To Open In NYC Rouge Tomate, a Belgian restaurant group in Brussels, will be opening a flagship unit in the fall on E. 60th St in midtown New York City, according to Paul Fetscher of Great American Brokerage, who represented the tenant. The 16,000 sq. ft. unit will be the first US location of the group, he added. Cushman & Wakefield represented the landlord, Omabuild Corp.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
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4/8/08 11:11:34 AM
Financial/Sales Results (Figures are compared to previous year’s unless stated otherwise)
For the fourth quarter, Finish Line reported a loss from continuing operations of $38.6 million on consolidated net sales of $382.8 million, versus last year’s income of $25.8 million from $425.7 million...Cleveland, OH-based Forest City Enterprises has reported net earnings for the year ended Jan 31 were $52.4 million compared to $177.3 million and net revenues were $1.3 billion compared to $1.1 billion... For the month ended April 5, Limited Brands, Inc announced sales were $733.2 million compared to $892.3 million and comparable store sales fell 8%. The company operates 2955 specialty stores under the Victoria's Secret, Pink, Bath & Body Works, C.O. Bigelow, La Senza, White Barn Candle Co, and Henri Bendel names... Family Dollar said sales for the quarter, comparing the same 13 weeks as last year, rose 3.2%, though for the calendar quarter, they were down 5.9% to $1.833 billion; comparable store sales were down 0.5%...For the month of March, Jacksonville, FL-based Stein Mart, Inc announced sales fell 14.7% to $138.6 million and same-store sales fell 17.1%...Hastings Entertainment reported that net income for the fourth quarter was $5.8 million, up from $5.1 million, with pre-tax profits up 12%, though sales decreased $2.7 million to $171.5 million; comparable store sales were down 1%...CKE Restaurants reported that same-store sales for March were up 2.4% for its Carl’s Jr and Hardee’s divisions; for the former, revenue excluding franchise-related revenue and royalties, was $50.9 million, while it was $41.2 million for Hardee’s...For the five weeks ended April 5, Abercrombie & Fitch announced net sales of $330.2 million compared to $331.2 million and comparable store sales decreased 10%. The company operates 353 Abercrombie & Fitch stores, 200 abercrombie stores, 455 Hollister Co stores, 22 Ruehl stores, and five Gilly Hicks stores in the U.S...Canadian retailer Lululemon Athletica reported earnings for the quarter soared to $14.6 million, compared with last year’s $887,000, as sales doubled to $105.1
million; it will open 35 stores in North America this year and begin an ecommerce operation...For the month of March, Wal-Mart Stores, Inc announced total company sales were up 7.9% to $36.973 billion and comparable store sales were up 0.7% without fuel and 1.1% with fuel...Dallas, TXbased Tuesday Morning Corp reported net sales for the quarter ended March 31 were $178.4 million compared to $189.2 million and samestore sales fell 8.2%. The closeout retail of upscale, decorative home accessories, housewares and famousmaker gifts operates 821 stores in 47 states...For the month ended March 31, Haverty Furniture Companies Inc said sales fell 6.2% to $62 million and comparable store sales fell 9.8%. The company operates 124 showrooms in 17 states in the South and Midwest ...For the five weeks ended April 5, Nordstrom, Inc reported sales of $750 million compared to $803 million and same-store sales fell 9.1%...Sport Chalet Inc announced sales for the fourth quarter ended March 30 were expected to be $97 million compared to $97.8 million and same-store sales will decline approximately 9%... Fresno, CA-based Gottschalks Inc reported comparable store sales for the month of March fell 15.4% and total sales fell 16.6% to $49.1; million. The company operates 59 department stores and three specialty apparel stores in the six western states of CA, WA, AK, OR, NV, and ID...Sonic Corp reported that same-store sales for the quarter increased 3.2%, and earnings per share rose 15% to $0.15 as revenues rose 8% to $174.6 million...Chico's FAS, Inc, which operates 1050 women's specialty apparel stores nationwide, reported sales fell 15.2% to $162.1 million and comparable store sales decreased 20.7%...For the quarter ended Feb 2, DSW Inc said net income was $1.1 million on net sales of $332.5 million compared with net income of $16.6 million on net sales of $329.1 million; comparable store sales fell 1.7%. The Columbus, OH-based branded footwear specialty retailer operates 266 stores in 37
states...Ross Stores, Inc announced sales for the nine weeks ended April 5 were up 8% to $1.077 billion and samestore sales grew 1%...For the quarter ended Feb 13, Luby’s restaurant chain announced sales rose 0.6% to $72.6 million, while same-store sales declined 1.6%...Charlotte, NC-based The Cato Corporation reported sales for the month of March were down 6% to $89.2 million and comparable store sales fell 9%. The company operates 1320 stores in 32 states under the Cato and It's Fashion! names...Wet Seal reported a fourth-quarter profit of $12.2 million as sales grew 7.9% to $179.6 million, compared to last year’s loss of $5.7 million; comparable store sales dropped 1.4%...Wendy's International, Inc announced average same-store sales at U.S. franchised restaurants and company restaurants fell 0.1% and 1.6%, respectively...Canton, MA-based Casual Male Retail Group announced fourth quarter same-store sales fell 0.2%, while total sales fell 7.5% to $133.9 million. The company operates 462 Casual Male XL retail and outlet stores and 26 Rochester Big & Tall stores...For the year ended Feb 29, CarMax, Inc said total sales increased 10% to $8.2 billion from $7.47 billion and same-store sales increased 3%...New York City-based Tiffany & Co reported net sales for the fourth quarter were up 10% to $1.1 billion; worldwide, comparable store sales rose 1%, though net earnings were down 16% to $118.3 million. The company operates 184 stores and boutiques worldwide...For the fourth quarter, Charming Shoppes reported same-store sales were down 9% including Lane Bryant's 896 units fell 9%, the 989-store Fashion Bug chain dropped 8%, and 468 Catherine's stores fell 11%. Visit
SHOPPING CENTER DIGEST and
THE DIRECTORY OF MAJOR MALLS
at Booth #S2052 in the Trade Show (South Hall) @ ICSC ReCon in Las Vegas, May 18-21.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
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.
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Real Estate Construction & Engineering to obtain additional information.
(continued from P. J61) Diablo and Main St (See SCD, P. F170); anchors Emporium, Macy’s, Nordstrom; parking 3000 cars; opened ‘51; 95% leased; developer Macerich, 401 Wilshire Blvd, Ste 700, Santa Monica, CA 90401-1207, (310) 3946000, www.macerich.com. Westminster: $10 million renovation may be underway for completion in October on 1.2 million sq. ft. Westminster Mall on 95 acres at Golden West St and Bolsa Ave in Orange County (See SCD, P. F479); project to include upgrades to the food court, new carpeting, seating areas, a children's play area, glass and steel facades, and possibly the addition of a 25,000 sq. ft. big-box retailer; anchors JCPenney, Robinson’s-May, Sears; 193 stores; parking 6400 cars; opened ‘74; population 910,878 within 10 miles; average household income $80,701; developer Simon Property Group (Steve Schwartz), c/o Westminster Mall, 1025 Westminster Mall, Westminster, CA 92683, (949) 8982559, Email: email@example.com. COLORADO Littleton: Former Lord & Taylor being redeveloped as a 10-acre, pedestrianoriented plaza with 90,000 sq. ft. of retail at 1.63 million Park Meadows Mall at I-25 at County Line and C-470 at Yosemite in Arapahoe County (See SCD, P. I639); "retail resort" comprised of plazas and two pedestrian streets housing seven new retail stores and entertainment venues scheduled to open in May; anchors Foley’s, Dick’s Sporting Goods, Nordstrom, Dillard’s, JCPenney; 160 stores; parking 8009 cars; opened ‘96; population 945,320 within 15 miles; average household income $94,081; developer General Growth Properties, 110 N Wacker Dr, Chicago, IL 60606, (312) 960-5000, www.generalgrowth .com. Longmont: Upgrades planned for 556,000 sq. ft. Twin Peaks Mall on 75 acres at US 119 and S Hover Rd in Boulder County (See SCD, P. I876); anchors Dillards, Sears, Steve & Barry’s and United Artists Theaters; 81 stores; parking 3265 cars; opened ‘85; population 133,644 within 10 miles; average household income $75,505; developer Panattoni Devel-
opment Corp (Will Damrath), 4601 DTC Blvd, Ste. 650, Denver, CO 80237-2459, (303) 790-4737, www. panattoni.com. FLORIDA Daytona Beach: Construction scheduled for a fall ‘09 opening of 525,000 sq. ft. The Pavilion at Port Orange on Williamson Rd, across from the planned Pavilion and the North Star (formerly US Foodservice) distribution center (See SCD, P. I967); anchors include Belk and Barnes & Noble; developer j/v Benchmark Group 4053 Maple Rd, Amherst, NY 14226-1072, (716) 833-4986, www. benchmarkgrp.com and CBL & Associates Properties, CBL Center , Ste. 500, 2030 Hamilton Place Blvd, Chattanooga, TN 37421-6000, (423) 855-0001, www.cblproperties.com Deltona: Proposed Deltona Village with more than 1 million sq. ft. of retail at E Graves Ave, E of I-4 in Volusia County; developer Weingarten Realty, 2600 Citadel Plaza DrP.O. Box 924133, Houston, TX 77008-1362, (713) 866-6000, www.weingarten.com. Deltona: Plans to go before development review committee for Sandhill Pointe Marketplace with more than 1 million sq. ft. of retail at Howland and I-4 in Volusia County; developer Roth Development, P.O. Box 7449, Louisville, KY 402570449, (502) 895-4880, www.roth development.net. Tampa: $10 million renovation and expansion planned for 1.2 million sq. ft. University Mall on 83 acres at Fowler Ave and 30th St in Hillsborough County (See SCD, P. I862); project to include remodeled entrances, family-friendly rest rooms, easy chairs, Wi-Fi, a new escalator, a kids’ soft sculpture play area, other amenities, and a fourth anchor store such as Belk or Kohl's; anchors Dillard’s, Sears, and Macy’s; 170 stores; parking 6,667 cars; opened ‘74; population 140,000 within 5 miles; average household income $58,881; developer j/v Somera Capital Management LLC, 5383 Hollister Ave, Ste. 240, Santa Barbara, CA 93111, (805) 681-0144, www. someracapital.com, and Rockwood Capital LLC, 10 Bank St, Ste. 1190, White Plains, NY 10606, (914) 2878850, www.rockwoodcap.com
GEORGIA Rome: Planned Seven Hills Town Center on 60 acres at U.S. 411 at Callier Springs Rd in Rome-Floyd County; project to include three major anchors – two 100,000 sq. ft. stores and a 60,000 sq. ft. store; in addition, four junior anchors will range from 20,000 sq. ft. to 50,000 sq. ft. each , space for smaller shops, and six outparcels; parking 2655 cars; developer Commercial Land Ventures LLC (Rick McBride), Montgomery, AL. ILLINOIS Orland Park: Renovation and expansion planned for 1.2 million sq. ft. Orland Square at 151st St. & LaGrange Rd. (Rt.45) in Cook County (See SCD, P. E862); developer is considering adding a new wing on the SW corner of the mall; possible tenants could include Nordstom, Crate & Barrel or The Cheesecake Factory; anchors Sears, Carson Pirie Scott, JCPenney, and Macy’s; 166 stores; parking 6800 cars; opened ‘76; last renovated in ‘94; population 497,522 within 10 miles; average household income $87,274; developer Simon Property Group, Inc. (Scott Richardson), PO Box 7033, Indianapolis, IN 462073464, (317) 685-7284, Email: srichard @simon.com. MASSACHUSETTS Danvers: A 42,000 sq. ft. Nordstrom Rack is planned for the site once occupied by Stop & Shop at 857,552 sq. ft. Liberty Tree Mall on 60 acres at Endicott St and Rt 128 in Essex County (See SCD, P. H131); anchors Bed Bath & Beyond, Staples, Marshalls, Target, The Sports Authority; 100 stores; parking 5500 cars; opened ‘72; population 558,101 within 10 miles; average household income $81,283; developer Simon Property Group, Inc, National City Center, PO Box 7033, Indianapolis, IN 46207, (317) 6361600, www.simon.com. MICHIGAN Monroe: Multi-million dollar renovation to begin in early ‘09 on 600,000 sq. ft. Frenchtown Square Mall on 66 acres at N Monroe St and Steward Rd in Monroe County (See SCD, P. G504); interior and exterior renovations including new skylights, ceiling, floor (continued)
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(continued) treatments, and new apparel and food vendors; to be completed by Christmas ‘09; anchors Elder-Beerman, JCPenney, OfficeMax, Sears, Target; 103 stores; parking 2500 cars; opened ‘88; population 192,000 within 18 miles; average household income $38,427; developer The Cafaro Company, 2445 Belmont Avenue, PO Box 2186, Youngstown, OH 44504-0186, (330) 747-2661, www.cafarocompany.com. MISSOURI St. Louis: New owner plans redevelopment of 1 million sq. ft. Crestwood Plaza on 48 acres at Hwy 366 (Watson) and Sappington Rd in St. Louis County (See SCD, P. I275); center to be at least partially demolished and transformed into a 500,000 sq. ft. to 1 million sq. ft. "town center" with upscale retail storefronts, outside walkways, outside dining, an expanded movie theater, and possibly an outdoor concert venue;
anchors Dillard’s, Sears, Macy’s; 148 stores; parking 4400 cars; opened ‘57; population 611,611 within 5 miles; average household income $64,517; developer Centrum Properties, 225 W Hubbard S, 4th FL, Chicago, IL 606104416, (312) 559-0980, www.centrum properties.com. OHIO Columbus: $38 million, 550,000 sq. ft. Northland Village to be built on the site of the former Northland Mall on 84 acres at I-71 and Morse Rd in Franklin County (See SCD, P. G386); project to be anchored by a 160,000 sq. ft. Menard department store and a home improvement retailer; population 370,701 within 13 miles; average household income $57,848; developer j/v Columbus Urban Growth Corporation (Mike Duffey), 415 East Main Street, Columbus, OH 43215, (614) 280-0899 and Stonehenge Co, 147 North High St.,Gahanna OH 43230, (614) 509-9000.
Store Closings, Bankruptcies Impacting On Mall Landlords A severe downturn in the economy resulting in March sales falling to the worst record in 13 years, is causing an increasing number of store closings, bankruptcies and tightening of credit, all of which is impacting also on shopping center owners and operators. With vacancies rising, a slowdown by tenants, and closings expected to be the highest since 2001—when they were around 7,000—industry experts are predicting weaker rent growth and more creative leasing to entice retailers “to make a deal.” Shopping Center Digest has reported on announced store closings and bankruptcy filings by such retailers as Foot Locker, Zale’s, Ann Taylor, Pacific Sunwear, Wilson’s Leather, J72
Fortunoff, Bombay, Levitz, Sharper Image, etc., etc. The tightening of credit is also affecting large mall operators such as General Growth and Centro Properties, which are trying to re-finance some of their billions of dollars of debt. According to one leading broker, “the pendulum has swung from the retailer to the tenant.” Several national tenants, it is understood, have reduced the number of store closings anticipated due to more favorable terms negotiated with their landlords. Some industry experts are predicting that the upcoming spring convention of the International Council of Shopping Centers in Las Vegas next month will show a substantially lower number of deals reached than have been produced in years.
Twinsburg Twp: Proposed $100 million open-air Twinsburg Fashion Place on 95 acres at SW of I-480 and W of state Rt 91 in Summit County; ‘pedestrian friendly” two-story retail center will have a Main Street theme and be anchored by two department stores; developer j/v BG & Sons and Glimcher Company, 150 East Broad St, Ste. 302, Columbus, OH 432153610, (614) 224-1800, www.glimcher.com. OKLAHOMA Tulsa: Planned $105 million, 695,000 sq. ft. Tulsa Hills shopping center on 176 acres at E side of U.S. 75, between 71st and 81st Sts (See SCD, P. I546); anchors Target, Lowe’s and Belk; opening ‘08; developer j/v Sooner Investment Realty (Leland Clark), 6410 Avondale Dr, Oklahoma City, OK 73116-6404, (405) 842-0456, Email: firstname.lastname@example.org and Collett & Associates, PO Box 36799, Charlotte, NC 28236-6799, (704) 376-6523, www.collett associates.com PENNSYLVANIA Pittsburgh: Outdoor apparel retailer L.L. Bean to join a recently opened Nordstrom and Tiffany & Co at 1.23 million sq. ft. Ross Park Mall on 139 acres at McKnight and Siebert Rds in Allegheny County (See SCD, P. I428); changes are expected to define the shopping center as a destination mall, as additional upscale exclusive boutiques are expected to be announced in the coming months; existing anchors JCPenney, Sears, and Macy’s; 146 stores; parking 5616 cars; opened ‘86; last renovated in ‘98; population 635,347 within 10 miles; average household income $68,532; developer Simon Property Group, Inc, National City Center, Indianapolis, IN 46207, (317) 636-1600, www.simon.com. Springfield: Redevelopment planned for 590,000 sq. ft. Springfield Mall at Rt 320 and Baltimore (See SCD, P. J27); a bank will replace a free-standing building and Strawbridges to be demolished and replaced by Target; plans also include a 12-screen Muvico theater and parking garage, and a 126,000 sq. ft. lifestyle/dining plaza; existing anchor Macy’s; 75 stores; parking 3400 cars; opened ‘74; population 342,235; average household income $77,000; developer
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
Pennsylvania Real Estate Investment Trust, 200 S Broad St, Philadelphia, PA 19102, (215) 875-0721, www.preit.com. TENNESSEE Kingsport: A 200,000 sq. ft. second phase of development planned for ‘08 and ‘09 at 425,000 sq. ft. Kingsport Pavilion on 78 acres at 2626 E Stone Drive (old Mason-Dixon trucking terminal); anchors Kohl’s and Target; 30 stores include Dick’s Sporting Goods, Old Navy, Books-A-Million, Michaels, Maurices, Dress Barn, and Lifeway Christian Stores; opened ‘07; developer Merchants Holding Company LLC (Matt Lukas), 901 S Mopac Expwy, Bldg V, Ste. 110, Austin, TX 78746, (512) 732-2130, Email: email@example.com. Kingsport: Redevelopment and expansion planned for 530,000 sq. ft. Fort McHenry Mall (to be renamed Kingsport Town Center) on 53 acres at Fort Henry Dr and Memorial Blvd in Sullivan County; project to include 85,000 sq. ft. of new interior space, and existing spaces will be renovated, a new food court will be constructed, and a clock tower will be installed;
exterior renovations will include a 15,000 sq. ft. expansion at the north entrance, a 70,000 sq. ft., two-story expansion at the west entrance, and four to five new restaurant and retail outparcels; anchors JCPenney, Sears, Belk; 65 stores; parking 3029 cars; opened ‘76; last renovated in ‘89; population 287,655 within 10 miles; average household income $45,088; developer Somera Capital Management, 222 N Sepulveda Blvd, Ste. 2375, El Segundo, CA 90245, (310) 641-8060; leasing General Growth Properties, 110 N Wacker Dr, Chicago, IL 60606-1116, (312) 960-5000, www.generalgrowth .com. TEXAS Harlingen: $8.5 million in renovations planned to draw new tenants to 655,548 sq. ft. Valle Vista at U.S. 77 and Lincoln Ave./NW in Cameron County (See SCD, P. E230); anchors Dillard’s, Marshalls, Mervyns, Sears, JCPenney; 83 stores; parking 3741 cars; population 164,785 within 10 miles; average household income $47,223; developer Simon Property Group, Inc, National City Center, P.O. Box 7033, Indian-
apolis, IN 46207, (317) 636-1600, www.simon.com. Houston: Major reconstruction planned for 1.7 million sq. ft. Greenspoint Mall on 139 acres at I-45 and N Beltway 8 in Harris County (See SCD, P. H932); anchors Macy’s, Dillard’s, Palais Royal, Sears, and Fitness Connection; there is one vacant anchor space available; 135 stores; parking 8722 cars; opened ‘76; last renovated in ‘96; population 834,329 within 10 miles; average household income $66,782; developer The Woodmont Co, 2100 W 7th St, Fort Worth, TX 76107, (817) 732-4000. VIRGINIA Roanoke: Construction underway to widen two upper-level walkways to make room for at least three additional kiosks at 787,978 sq. ft. Valley View Mall on 75 acres at I-581 and Hershberger Rd in Roanoke County (See SCD, P. H668); anchors Belk, Hecht’s, Sears, JCPenney; 93 stores; parking 4274 cars; opened ‘85; population 313,092 within 30 miles; average household income $52,343; (continued on P. J76)
36 States and Growing Strong....
Triangle Plaza Shopping Center Raleigh, NC
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
1,000 sf- 6,700 sf available D’Agostino’s Supermarket, CVS, Blockbuster, Starbucks, My Lily Pad, Shelly Belly Maternity Opening Soon: Last Licks
win properties Brookfield, CT
21 Federal Road 2,520 sf, In-line, Free Standing Strip Vitamin Shoppe, Omni Fitness
1205 Skyline Drive 8,500 sf free standing
Food Lion Center Stephens City,VA
Development Opportunity: Louisville, KY +/– 1.1 acres
Additional Free Standing Leasing Opportunities: Long Beach, 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: 914 253 9280
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
10 Rye Ridge Plaza Rye Brook, NY 10573 E: firstname.lastname@example.org 4/28/08
Anything Not Traditional Leasing:
Alternative Sources Of Revenue Is Becoming The New ‘Pot Of Gold’ For Shopping Malls
Alternative sources of revenue—a major profit center for owner-developers in the shopping center industry for about 10 years now—is soaring in importance, and the umbrella term is encompassing just about everything except traditional retail leasing. According to one landlord at the recent Specialty Retailing Conference in Washington, DC, a dealer for Bentley automobiles is paying $100,000 a year to park an unattended car in the lot at its luxury, high-end mall. The agreement has been renewed several times. At the developer’s Mall of Columbia in Columbia, MD, sponsorship revenue went from $0 to $300,000 in 2007, she continued. The concept literally took off some 10 years ago when The Mills Corp sold the naming rights of its project in Lawrenceville, GA,—Discover Mills—to Discover credit card. After that alternative sources began to include pouring rights for namebrand drinks, sponsorships, partnerships, etc., etc. And most of the competition for these new dollars is coming not from other malls but from other heavy-traffic areas, such as train stations, ballparks and stadiums, large industrial/office complexes, and downtown metro areas. Though some observers estimate rental revenue from retail and service kiosks may be responsible now for 10% of a shopping mall’s income, this is one J74
source of income that many consider more mainstream and equate with inline and permanent leasing. Melting Pot Of Alternative Sources Into this “melting pot” of alternative sources, say speakers at the ICSC-sponsored meeting, one would include naming rights to seating in common areas; banners, flags and largeformat advertising; branded lounges; logos and advertising on staircases, floors, bulkheads, elevators, fountains, play areas; pop-up stores; and just about anything one can imagine—and sell. There is a wide range of rates and deals being made, so much so that there is no real consistency or standardization, even varying from owner to owner, malls within the same metroarea, and from local to regional to national advertisers. Each transaction is completely different and unique, it was stressed. One point of controversy, say some viewers, is to avoid “junking up the mall” or saturating common areas in a mass rush of chasing new income. A short-term deal of a few months may be agreed upon at one or two meetings between mall operators and other decision-makers, or it could take more than a year to consummate for a multi-year sponsorship, involving negotiations taking place at many different levels of approvals between the landlord and advertising and account
executives, clients, media-buyer agencies, designers, etc., etc. Within the major categories that could use a shopping complex for its overall marketing program, said speakers, would be auto dealerships, financial institutions, schools, universities, real estate and insurance companies, local media, providers of professional services, and the like. Among other workshops and panel discussions were those dealing with “Leasing in NonTraditional Outdoor Centers,” “Leasing Challenging Centers,” “Common Area Etiquette,” “Visual Merchandising,” and the like. Attendance Was Down Attendance was down substantially over last year’s, with less than 400 participants registered, and exhibitors totaling only about 30. Activity, according to many observers, “was slow to dismal…disappointing…a disaster…” Many attendees pointed out that some of the larger landlords and retailers who had exhibited in the past, either did not exhibit this year, or did so with smaller booths and token footprints. Next year’s conference, said the International Council of Shopping Centers, will be March 29-April 1 at the Western Diplomat Resort & Spa in Hollywood, FL, and will be called the Fusion Conference. It will be a combination and merger of Specialty Retail with the annual Fall Conference which highlights management and marketing.
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(continued from P. J73) developer CBL & Associates Properties, Inc, CBL Center, 2030 Hamilton Place, Chattanooga, TN 37421-6000, (423) 855-0001, www.cblproperties .com. WASHINGTON Bellevue: Major remodeling to be completed by the ‘08 holiday season on 1.3 million sq. ft. Bellevue Square on 34 acres at Bellevue Way, NE 8th and 4th Sts, and 100th Ave in Bellevue County (See SCD, P. H452); transformation to create a sleek sophisticated contemporary “Urban Garden” setting with relaxing, organic, and natural touches; in addition, Nord-
strom, Williams-Sonoma, Banana Republic, Pottery Barn, and Victoria's Secret to either be remodeled or expanded; anchors JCPenney, Nordstrom, Macy’s, and Macy’s Home Store; 200 stores; parking 6296 cars; opened ‘46; Bellevue Square is the anchor retail section of The Bellevue Collection mixed-use destination location which also includes Lincoln Square and Bellevue; popu-lation 1.5 million within 15 miles; average household income $98,000; architect RTKL Architects of Baltimore, MD; de-veloper Kemper Development Co, PO Box 4186, Bellevue, WA 98009, (425) 646-3660.
CANADA Calgary, AB: New owners plan 500,000 sq. ft. expansion of 540,000 sq. ft. Deerfoot Meadows on 360 acres at Heritage Dr and Deerfoot Trail (See SCD, P. I378); anchors Ikea, Best Buy, Loblaws, Real Canadian Superstore, Sport Check, Mark’s Work Wearhouse, Linens N Things, Pier One Imports, and many others; new owners plan 500,000 sq. ft. expansion to be completed by ‘11; population 1 million within a 30-minute drive; developer Ivanhoe Cambridge, 1001 SquareVictoria, C-500, Montreal, PQ H2Z 2B5, (514) 841-7600, www.ivanhoecambridge .com.
NEW AND EXPANDING CENTERS 201,000-500,000 SQ. FT. ARKANSAS Fort Smith: Some two dozen satellite tenants join existing Target at $40 million to $50 million, 425,000 sq. ft. Fort Smith Pavilion at Phoenix Ave and Old Greenwood Rd; tenants could include some new chain restaurants, smaller specialty stores, and even some local independent businesses; developer Merchants Holding (Matt Lukas), 901 S Mopac Expwy, Bldg V, Ste. 110, Austin, TX 78746, (512) 732-2130, Email: mdclukas@yahoo .com. CALIFORNIA Murrieta: Construction underway on third phase of 500,000 sq. ft. The Orchard - Stone Creek on 50 acres on I-215 in Riverside County; anchors Marshalls, Target, Walgreens and Dixieline Lumber and Home Center; other tenants will include Starbucks, Subway, UPS, Bank of America, pharmacies, clothing stores, a casual dining plaza, and fast-food options; parking 2000 cars; site will retain a citrus tree orchard; architect GreenbergFarrow of Atlanta, GA; developer Retail Development Advisors, 22875 Savi Ranch Pkwy, Ste. F, Carlsbad, CA 92008, (714) 282-1798. North Natomas: Proposed Natomas Crossing with up to 500,000 sq. ft. on 66 acres at SW corner of Arena Blvd and Commerce Way, along I-5 (See
SCD, P. I873); project to include a 160,000 sq. ft. anchor, possibly a home-improvement store or a standalone department store; developer Alleghany Properties Inc (David Bugatto), 2150 River Plaza Dr, Ste. 155, Sacramento, CA 95833-3882, (916) 648-7715, Email: dbugatto@ alleghanyprop.com. COLORADO Greeley: Construction has begun on a Best Buy outlet and Sports Authority at 273,574 sq. ft. CenterPlace Shopping Center on 36.4 acres at 47th Ave and US 34 Bypass in Weld County (See SCD, P. H653); existing anchors include Safeway 58,000 sq. ft., Target 125,400 sq. ft., Ross Dress for Less, and Kohl’s; 36 stores; opened ‘03; population 66,723 within three miles; average household income $43,915; developer Regency Centers, 121 W Forsyth St, Ste. 200, Jacksonville, FL 32202, (904) 356-7000, Email: leasing @regencycenters.com. FLORIDA Lake Wales: Plans approved for $4 million to $5 million, 211,000 Shoppes on the Ridge Phase II on U.S. Hwy 27, next to The Home Depot; anchor Kohl’s 68,000 sq. ft.; project to also include Harbor Federal Bank, Gateway Petroleum, and a 78-room Holiday Inn Express; developer A.G. Armstrong Development (Andy McHargue),
13801 N Dale Mabry, Ste. 200, Tampa, FL 33618-4547, (813) 265-4500, Email: email@example.com. ILLINOIS Algonquin: Construction continues on 310,000 sq. ft. Algonquin Galleria at SE corner of Randall and County Line Rds (across the street from the 600,000 sq. ft. Algonquin Commons); existing tenants include Best Buy 30,000 sq. ft., Ethan Allen 20,000 sq. ft., Brunswick Zone 60,000 sq. ft., and La-Z-Boy 20,000 sq. ft.; in addition, a 10,685 sq. ft. multi-tenant building includes Potbelly Sandwich Works, 2nd Wind Exercise Equipment, Jamba Juice, LensCrafters, and Massage Envy; a 40,000 sq. ft. Dania and Golden Corral restaurant to open soon and construction on Famous Daves will begin in a couple of months; a second phase will add 35,000 sq. ft. of retail, two restaurant pads, and a furniture store; entire project to be completed in ’09; developer Mid-America Development Partners, 1110 Jorie Blvd, Ste. 350, Oak Brook, IL 60523, (630) 366-2305, www.midamdevelopment .com. Chicago: Jewel-Osco leases 62,000 sq. ft. at $95 million, 445,000 sq. ft. Marshfield Plaza under construction at 119th St and Marshfield Ave (See SCD, P. I873); 126,000 sq. ft. Target (continued on P. J80)
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
"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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(continued from P. J76) scheduled to open in Oct; majority of plaza to open in March ‘09; other tenants include Staples, Petco, Marshalls, Fifth Third Bank, and Panda Express; population 185,000 within three miles; developer j/v Prudential Real Estate of Parsippany, NJ and Primestor Development (Gene Detchemendy), 228 South Beverly Dr, Beverly Hills, CA 90212, (310) 6521177. Email: firstname.lastname@example.org. KENTUCKY Louisville: 80,000 sq. ft. expansion to include a 30,000 sq. ft. Jo-Ann Fabrics opening mid- November at 300,000 sq. ft. Shelbyville Road Plaza on 34 acres at 4600 Shelbyville Rd at Bowling Blvd; project to also include the addition of a freestanding Buffalo Wild Wings and Jason’s Deli; spaces available from 1300 sq. ft. to 14,000 sq. ft.; 37 stores include Borders Books, Puccini's Smiling Teeth restaurant, Dolfinger's and Off Broadway Shoes; opened ‘54; developer Hagan Properties (Tommy Edwards), 12975 Shelbyville Rd, Louisville, KY 40243, (502) 245-8800, Email: tommy@hagan propertiesinc.com; leasing CB Richard Ellis Group Inc (Robert Schwartz), 6060 Dutchmans Ln, Ste. 100, Louisville, KY 40205, (502) 412-7606, Email: email@example.com. MARYLAND Bowie: Construction has begun on a new pad for Bank of America and other new construction to follow at Hilltop Shopping Center at Rt 450 and Racetrack Rd (See SCD, P. I736); McDonald’s may be leaving and a national drug store chain to replace SunTrust Bank and a small specialty grocery store to replace Jazzercise; developer M. Leo Storch Management Corp (Bruce Levine), Hooks Village, Ste. 31225 Hooks Ln, Baltimore, MD 21208-1306, (410) 486-0800. MISSOURI Arnold: Construction continues on $78 million, 325,800 sq. ft. Arnold Commons on 54 acres at I-55, State Hwy 141 and Church Rd in Jefferson County (See SCD, P. I683); Missouri Supreme Court has ruled for Arnold to take by eminent domain a dentist's office for future development; anchors: Lowe’s Home Improvement opened
earlier this year, Dierbergs to open soon, and Office Depot; population 130,000 within 5 miles; average household income $0.00; developer THF Realty, 2127 Innerbelt Business Ctr Dr, Ste. 200, St. Louis, MO 63114, (314) 429-0900. www.thfrealty.com. St. Louis: Whole Foods Market 55,000 sq. ft. to open in June and Target to open in July at 310,000 sq. ft. Town and Country Crossing currently under construction on 45 acres at SW corner of Clayton and Woods Mill Rds (former Lucent Technologies campus); outdoor mall will have 40 stores including an unidentified junior anchor, FedEx Kinko’s, Go!Spa, National City Bank and Qdoba Mexican Grill; property also includes a three-acre lake; center will be filled by spring ‘09; developer TNC Investors (Ted Levis), 9336 Union Centre Blvd, West Chester, OH 45069, (513) 860-0270.
purchased and new owners seek anchor tenant for a planned shopping center on 30 acres at I-40; developer Tower Investments, LLC, 250 W Main St, Ste. 101, Woodland, CA 95695, (530) 668-1000, www.towerdev.com.
NEVADA Elko: Construction could begin next year on a planned Lowe's Home Improvement-anchored shopping center on 54 acres at N of Mountain City Hwy, between Sagecrest Dr and W Jennings Way; plans call for at least one other anchor business and several other smaller buildings; developer c/o Lowes (Anthony Farmland), PO Box 1111, North Wilkesboro, NC 286591111, (336) 658-2312.
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. I621); anchors Home Depot 98,000 sq. ft. and Wal-Mart Supercenter; other tenants will include Ross Dress for Less and Famous Footwear 2400 sq. ft.; opening spring ‘09; developer DLC Management (Evan Podob), 580 White Plains Rd, Tarrytown, NY 10591, (914) 631-3131, Email: firstname.lastname@example.org.
NEW JERSEY West Windsor: Renovation and possible vertical expansion planned for 240,000 sq. ft. MarketFair at US Rt 1 and Meadow Rd in Montgomery County (See SCD, P. I863); Pottery Barn, Williams Sonoma, Anthropologie, Smith & Hawken, and Barnes & Noble; 40 stores include Restoration Hardware, Smith & Hawkin, P.F. Chang's, and United Artists 10-plex; parking 1500 cars; opened ‘87; developer TIAA-CREF, 730 3rd Ave, 8th Fl, New York, NY 10017-3206, (212) 916-4475; leasing Madison Marquette (John-David Franklin), 1717 Arch St, Ste. 3930, Philadelphia, PA 19103, (215) 399 5606, Email: email@example.com. NORTH CAROLINA Greensboro: 300,000 sq. ft. Guilford Mills industrial building site has been
OREGON Portland: Former 55,000 sq. ft. Albertson’s to be replaced by LA Fitness opening in August at 400,000 sq. ft. Eastport Plaza at SE 82nd Ave & Powell (See SCD, P. G113); anchors include Wal-Mart and Century 16 Cinemas; 40 stores include Dollar Tree, Great Clips, GameStop, The Avenue, Izzy's Pizza, and Starbucks; parking 2500 cars; opened ‘60; last renovated in ‘04; population 250,000 within 4 miles; average household income $45,000; developer Eastport Plaza S/C, c/o Eastport Mgmt Office, 4000 SE 82nd Ave, Portland, OR 97266, (503) 771-3817, Email: kenmc @qwest.net.
SOUTH DAKOTA Yankton: Renovation proposed for 226,184 sq. ft. Yankton Mall at 21st and Hwy 81; small portion of the mall to be ‘de-malled’ to create a courtyard with access to an expanded movie theater; project to also include a permanent Farmer’s Market Pavilion and other new retailers and restaurants in an outdoor setting; developer Dial Properties (Amber Boots), 11506 Nicholas St, Ste. 200, Omaha, NE 68154-4421, (402) 493-2800, Email: firstname.lastname@example.org. TENNESSEE Knoxville: Knox County commissioners may offer tax break of $5 million for a proposed Willow Creek Shopping Center in Knox County (See SCD, P. J12); anchor Lowe’s Home Improve(continued)
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(continued) ment Warehouse; developer Graham Corp (Tim Graham), 5555 Clinton Hwy or P.O. Box 12489, Knoxville, TN 37912, (865) 693-7000, www.graham corporation.com. Spring Hill: A second phase of construction to begin this fall on 467,000 sq. ft. The Crossings of Spring Hill on 63 acres at NE corner of U.S. Hwy 31 (Columbia Pike) and Saturn Pkwy (See SCD, P. I959); signed tenants include Bed Bath & Beyond 23,400 sq. ft., Dress Barn, Maurices, Mattress Inn, Moe’s Southwest Grill, Marble Slab Creamery, Merle Norman Cosmetics and Day Spa, and Sports Clips; anchors SuperTarget 178,000 sq. ft. and Kohl’s 98,000 sq. ft. opened in March; developer GBT Realty (Ken Larish), 201 Summit View Dr, Ste. 110, Brentwood, TN 37027-4645, (615) 370-0670, Email: email@example.com. Smyrna: Proposed 275,000 sq. ft. The Shoppes at Smyrna Commons on 31 acres along Nissan Dr (TN102); project to include large and mid-sized boxes and smaller in-line spaces; typical power center tenants sought; opening Oct ‘09; center is principal retail component of an 86-acre mixed-use commercial project; developer Ballast Point Group (Norman B. Krone), 11300 4th St N, St. Petersburg, FL 33716, (727) 577-9197, nkrone@ ballastpointgroup.com. TEXAS East Dallas: $6 million renovation planned for 325,000 sq. ft. Casa Linda Plaza at Garland Rd and Buckner Blvd in Dallas County (See SCD, P. I644; a now-vacant movie theater has been gutted; developers seeking national retailers; anchors Albertson’s and 24Hour Fitness; 56 stores; opened ‘45; population 124,286 within 3 miles; average household income $76,286; developer AmReit Realty Investment Corp (Steve Hefner), 5910 N. Central Expwy, Ste. 1765, Dallas, TX 75206, (214) 691-2300, Email: shefner@ amreit.com; leasing The Weitzman Group (Bryan Grossman), 3102 Maple Ave, Dallas, TX 75201, (214) 442-7506, Email: firstname.lastname@example.org. Grand Prairie: Ground to be broken this fall on 485,000 sq. ft. Prime Outlets-Grand Prairie on 64 acres at NE corner of I-20 and TX 360 in
Tarrant County (See SCD, P. J43); center to include 120 stores, a food court, several restaurants; parking 2700 cars; opening late ‘09; developer Prime Retail, 217 E Redwood St, 20th Fl, Baltimore, MD 21202, (410) 2340782, www.primeoutlets.com. Houston: Ground to be broken in the fourth quarter on 400,000 sq. ft. Grand Corners on 43 acres at Grand Pkwy and Westpark Tollway in Fort Bend County; several anchors include a 35,000 sq. ft. Bed Bath & Beyond; initial phase of approximately 200,000 sq. ft. to open in ‘09; developer The Retail Connection LP/Connected Development Services LLC, 2525 McKinnon St, Ste. 700, Dallas, TX 75201, (214) 572-8400. Laredo: Site work has begun for 452,000 sq. ft. Laredo Factory Stores on 100 acres on the W side of I-35 at mile marker 18; factory outlet center to include 70 stores and a food court; opening fall ‘10; developer Newman, Tillman, Simkin, LLC, 850 Ridge Lake Blvd, Ste. 220, Memphis, TN 38120, (901) 842-5334. Robstown: Developers hope to begin construction this fall on a proposed $60 million, 350,000 sq. ft. Outlets at Corpus Christi Bay on 49 acres near the Richard M. Borchard Regional Fairgrounds in Nueces County (See SCD, P. I947); 70 to 80 high-end retailers and restaurants will include Dress Barn and Tommy Hilfiger;
possible tenants also include PacSun, Reebok, Lane Bryant, Gap, Baby Gap, and Old Navy; opening spring ‘09; architect Sami Basuhail of MD; developer Dolphin Ventures I LLC (Rick Carduner), Carduner Commercial, LLC, 2161 NW Military Hwy, Ste. 402, San Antonio, TX 78213, (210) 402-3500, Ext. 303, Email: rick@ cardunercommercial.com. VIRGINIA Alexandria: Planned 250,000 sq. ft. Promenade at Tysons West upscale retail project on 7.1 acres at Leesburg Pike and Westwood Center Dr (site formerly housed Moore Cadillac); opening late ‘10 or early ‘11; developer JBG Rosenfeld Retail, 4445 Willard Ave, Ste. 700, Chevy Chase, MD 20815, (301) 657-0700, www.jbgr.com. CANADA Calgary, AB: Holt Renfrew to triple in size to 80,000 sq. ft. by expanding into a space formerly occupied by Sear's at 372,804 sq. ft. Calgary Eaton Centre/TD Square from 2nd St to 4th St between 7th Ave and 4th Ave SW; Holt to open fall ‘09 and will feature three floors and a 5,000 sq. ft. shoe department; 170 stores also include Harry Rosen and Birks Jewellers; population 155,000; average household income $73,600; developer 20 Vic Management Inc (Stan Boniferro), 1 Queen St E, Ste. 300, Box 88, Toronto, ON M5C 2W5, (416) 6819021, Email; email@example.com.
Triple Five Again Seeks Tax Rebate Triple Five Group, despite opposition by local and regional officials, is again pushing the state legislature in Minnesota for a tax rebate to help pay for its planned $2 billion expansion of its Mall of America in Blooming-ton. Governor Tim Pawlenty had vetoed a similar bill last year. The bill in the Senate would allow the landlord to avoid paying into a regional “fiscal disparities pool” that would help undeveloped communities; Triple Five is seeking a 20-year abatement totaling about $50
million. Kent Warden, executive director of the Greater Minneapolis chapter of Building Owners and Managers Association, said that allowing the abatement would be unfair to other developers and owners in the state. The pool, he said, “is designed to level out the tax bvase across different municipal jurisdictions, to reduce the bias of one community toward another…It was never designed to be a subsidy program, a source of cash for developers.”
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NEW AND EXPANDING CENTERS UP TO 200,000 SQ. FT. ALABAMA Huntsville:TJMaxx to open 28,000 sq. ft. store at 60,000 sq. ft. Heritage Square Shopping Center under construction at U.S. 72 and Lawsons Ridge Rd; other tenants will include Boater’s World, Maurices, Shoe Show, Rue21, and a locally owned restaurant to be announced soon; developer Fairway Investments LLC, 2830 Cahaba Rd, Birmingham, AL 35223-2321, (205) 802-7202, www.fairwayinvestments .com. ARIZONA Fountain Hills: Bashas' to be rebuilt and expanded to 49,343 sq. ft. at Fountain Hills Plaza at Palisades Blvd and La Montana Dr; in addition, Ace Hardware to also be expanded by 6000 sq. ft.; developer Fountain Hills Planning and Zoning Commission, 16705 E Ave of the Fountains, Fountain Hills, AZ 85268, (480) 8165100, Email: firstname.lastname@example.org. CALIFORNIA Corona: Construction has begun on $42 million, 94,000 sq. ft. Shops at Sycamore Creek on 12 acres at SW
corner of Indian Truck Trail and I-15 (See SCD, P. J54); project to include six buildings ranging in size from 4000 sq. ft. to 48,000 sq. ft.; anchors Vons “Lifestyle” supermarket, Vons’ Fuel Station, and CVS/Pharmacy; other tenants will include Wells Fargo, Happy Nails & Spa, UPS store, Fantastic Sams, Kelleher Cleaners, Subway, and a dental office; in-line spaces of 1320 sq. ft. to 3744 sq. ft. are available; opening fall ‘08; architect KKE Architects of Pasadena, CA; contractor RG Snyder Group Inc of Anaheim Hills, CA; developer Marinita Development Co, 3835 Birch St, Newport Beach, CA 92660, (949) 756-8677; leasing Grubb & Ellis (Mark Baziak, Terrison Quinn, and Jonathan Quinn), 4675 MacArthur Ct, Ste. 1600, Newport Beach, CA 92660, (949) 6082087, Email: email@example.com, firstname.lastname@example.org, or email@example.com. Napa: Construction to begin this year on a 19,241 sq. ft. Fresh and Easy Neighborhood Market at River Park Shopping Center at Imola Ave; market
Saul Centers Adds Three Properties Saul Centers has acquired three properties for $60.6 million, plus the assumption of $10.3 million in debt to its portfolio of neighborhood shopping centers. They are 89,000 sq. ft. Great Falls Center, a BJ’s Wholesale
Club in Alexandria, VA, and 22,000 sq. ft. Marketplace at Sea Colony in Bethany Beach, DE. It had $150.1 million in revenue last year, up 9% from the previous year; it now owns 51 shopping centers totaling 8.1 million sq. ft. of leasable space.
Moe’s Southwest Grill Looking In Baltimore Moe’s Southwest Grill, now a division of Focus Brands which bought it last August, is looking to open 13 of its restaurants in Greater Baltimore by 2013, especially along I-95 between Baltimore and Washington, DC. J84
Other competing chains already in the market are Chipotle, Qdoba and Baja Fresh. The thrust of the expansion would be through franchising, according to D’Wayne Tanner, VP of franchise sales.
to replace former Vallerga's Market; opening ’09; developer Zapolski + Rudd, Sawyer Tannery, 68 Coombs St, Ste. C1, Napa, CA 94559, (707) 253-1000, www.zapolskirudd.com. Riverside: Construction has begun on 26,400 sq. ft. Orangewood Centre on 2.7 acres at NE corner of Van Buren Blvd and Dauchy Ave; four new buildings ranging in size from 6,000 sq. ft. to 8,100 sq. ft.; tenants will include Firestones Tire, Kragen Auto Parts, 7 Eleven, Subway, Sip’s Coffee, a dry cleaner, and a nail salon; 85% leased; inline spaces ranging from 1,000 sq. ft. to 1,300 sq. ft. available; opening summer ‘08; developer Marinita Development Co, 3835 Birch St, Newport Beach, CA 92660, (949) 756-8677, www.marinita.com. COLORADO Gunnison: City Market plans a 5,000 sq. ft. expansion at the Gunnison Meadows Mall on N Main St; expansion may possibly include a gas station and a Starbucks; center is co-anchored by Wal-Mart; developer c/o City Market (Trail Daugerty), 555 Sandhill Ln, Grand Junction, CO 81505, (877) 415-4647. CONNECTICUT Milford: New owners plan redevelopment of 175,876 sq. ft. Liberty Rock Shopping Center at on Bridgeport Ave (See SCD, P. G576); seeking big-box stores, destination services, women's clothing, and jewelry retailers; anchors Kmart and Walgreens; other tenants include Radio Shack, Taco Bell, Pizza Hut takeout, Subway, Fairway Liquor Mart, Ocean State Job Lot, and Dollar Tree; population 143,684 within 5 miles; average household income $64,878; developer 2020 Acquisitions LLC (Rick Greenberg), 2500 Coney Island Ave, 2nd Fl, Brooklyn, NY 11223, (917) 262-3900, Email: firstname.lastname@example.org. FLORIDA Gainesville: A 90,000 sq. ft. Kohl’s to replace former Winn-Dixie at Archer Square at SW 34th St; project to also (continued)
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(continued) include aesthetic improvements to the site including a new parking lot and improved landscaping; opened ‘77; engineer Eng, Denman and Associates Inc (Clay Sweger) of Gainesville, FL; developer M&P Shopping Centers, LLC, 5025 Winters Chapel M, Atlanta, GA 30360, (770) 698-0403. Miami Gardens: $19.8 million construction loan secured for a planned 108,000 sq. ft. Palmetto Gardens Plaza on seven acres along the Palmetto Expwy at 3791 NW 167th St in Dade County (See SCD, P. I814); anchor 4U Lighting and Design; prospective tenants include retail banks, restaurants, drug store, apparel outlets, and furniture showrooms; spaces available from 1500 sq. ft. to 20,000 sq. ft.; opening in 14 to 18 months; developer DZD Holdings, Miami, FL; leasing Macken Realty, 18999 Biscayne Blvd, Ste. 105, Aventura, FL 33180, (305) 933-3800, Email: info@ mackenrealty.com.
GEORGIA Marietta: Planned 134,000 sq. ft. Sprayberry Square Shopping Center at Sandy Plains Rd and E Piedmont Rd in Cobb County; anchors LA Fitness 45,000 sq. ft.; other tenants will include Pizza Hut and Planet Beach; parking 700 cars; population 69,449 within 3 miles; average household income $125,361; developer DLC Management Corp (Michael Puline), 1720 Peachtree St NE, Atlanta, GA 30309, (404) 817-3772, Email: mpuline@ dlcmgmt.com. HAWAII East O’ahu, Honolulu: Renovation and re-tenanting planned for 62,000 sq. ft. Aina Haina Shopping Center ; anchor Foodland; existing tenants include Chuck E. Cheese, several restaurants including Hibiscus BBQ, a surf shop, a hair salon, a post office, and two banks; opened ‘50; developer American Commercial Equities LLC, 22917 Pacific Coast Hwy, Ste. 300, Malibu, CA 90265, (310) 774-5255.
Baja Fresh Focuses On New Prototype Baja Fresh Mexican Grill, the Thousand Oaks, CA-based chain, says it will be focusing its expansion plans on a new smaller footprint restaurant and a less expensive prototype designed to increase speed of service. According to James Walker,
chief development officer, it will aggressively pursue franchising opportunities in heavily populated US markets, primarily New York, Boston and Atlanta The company operates or franchises approximately 300 restaurants nationwide.
Sueba Will Develop Housing At CBL Site CBL & Associates has chosen Sueba USA Corp to develop the 188-unit balance of the multifamily component of the $200 million Pearland Town Center on 147 acres in Pearland, TX. CBL’s 62 apartments are to open July 30 in conjunction with the grand opening of the 1.2 million town center. Sueba is expected to break ground in the fall on the two, J86
four-story Residences of Pearland Town Center. It will consist of 1-bedroom garden apartments and two-bedroom loft apartments. CBL said the retail component is more than 80% preleased. It is anchored by Macy’s 160,000 sq. ft., Barnes & Noble 29,000 sq. ft., and includes such national tenants as Chico’s, the Buckle, and Forever 21.
KANSAS Wichita: $14 million renovation proposed for 73,000 sq. ft. Ken-Mar Shopping Center at 13th and Oliver; project to include the restoring two major buildings at the center, improving the landscaping, resurfacing the parking lot, and the addition of several outparcels; anchors Dollar General, Capitol Federal Savings, and Ken-Mart Family Drug; opened ‘57; population 19,000 within five miles; architect WDM Architects of Spokane, WA; contractor Key Construction of Spokane, WA; developer Madison Property Group LLC, of Los Angeles, CA; leasing Landmark Commercial Real Estate (Nick Esterline), 156 N Emporia Ave, Wichita, KS 67202, (316) 262-2442, Email: nesterline@ landmarkrealestate.net. MAINE Portland: Renovation and expansion to begin this spring on 91,000 sq. ft. Westgate Shopping Center on Congress St; project to include a new facade, redeveloped parking lot, new lighting, and the addition of 2 outparcels and reconfiguring the existing retail space for the addition of several small stores; to be completed by the end of ‘08; anchors Shaw’s Supermarket, CVS, and Advance Auto; population 140,000; developer Charter Realty & Development Corp (Dan Zelson), 183 Main St, Westport, CT 06880, (203) 227-2922, Email: dan@ chartweb.com. MASSACHUSETTS Woburn: Existing Busa Wine & Spirit Shop to be torn down and replaced with a 11,200 sq. ft. building that would house a new Busa liquor store and an AutoZone auto supply store on 3 acres at Main St; proposal also indicates site will be merged with an adjacent 17,000 sq. ft. Walgreen's and an adjoining vacant restaurant; developer American Venture Corp, 80 Broad St, Boston, MA 02110, (617) 426-4700, www. americanventurecorp.com. NEW HAMPSHIRE Hampstead: Revised plans approved and construction may have already begun on Hampstead Community Retail Center at 416 Emerson Ave; plans include a convenience store and gas station and a cluster of six or seven
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stores; parking 120 cars; developer Brad Richards and Brad Richard Jr. NEW JERSEY East Brunswick: Ground has been broken on 150,000 sq. ft. Summerhill Square (former Meyer’s Shopping Center) on 18.5 acres at on Rt 18, bordered by Arthur St and Summerhill Rd in Bergen County (See SCD, P. J14); project to include three buildings in a Main-street like setting; anchor stores Toys R Us and Babies R Us will total 64,000 sq. ft. combined and open by late fall; 20 stores; developer Pagano Real Estate Inc (Robert Pagano), 55 Harristown Rd, Glen Rock, NJ 07452-3305, (201) 2615200, Email: robert@paganorealestate .com. NEW JERSEY Millville: Redevelopment planned for 38,000 sq. ft. former Daunoras Family Market shopping center on 4 acres at N 2nd and Broad Sts; Daunoras to be replaced by a 16,000 sq. ft. Save-ALot grocery store to open this summer; in addition, entire building to be renovated and include 22,000 sq. ft. of additional retail including restaurants and smaller retail shops; leasing Metro Commercial Real Estate (Randy Hope), Eight Tower Bridge, 161 Washington St, Ste. 375, Conshohocken, PA 19428, (610) 825-5222. NEW YORK Madison: Construction could begin this spring on 130,000 sq. ft. Madison Marketplace at Rt 12B and Airport Rd (See SCD, P. J15); anchors Price Chopper and Tractor Supply Company; project to include other national retailers, with the possibility of local retailers including apparel, and quick, casual restaurants, and a drug store; developer Sphere Development (Kathy Bennett), 2836 Route 20 E, Cazenovia, NY 13035, (315) 655-5535 White Plains: Proposed $20 million 42,000 sq. ft. The Venue row of fashion boutiques on 5.8 acres at 120 Bloomingdale Rd, in Westchester County; project to also include a 6000 sq. ft. restaurant; parking 503 cars; developer Core Plus Properties, Stamford, CT. NORTH CAROLINA Greensboro: City reviewing easement plans for a 4,000 ft. sewer line for a
planned 46,000 sq. ft. Shoppes at Forest Oaks (and adjacent 200,000 sq. ft. Woody Hills Square development) at Liberty Rd; anchors Food Lion and a drugstore; developer Commercial Properties (Brantley Tillman), 1648 N Market Dr, Ste. E, Raleigh, NC 276096266, (919) 872-5702, Email email@example.com. Greensboro: City reviewing easement plans for the 4,000 sq. ft. sewer line for a proposed 200,000 sq. ft. Woody Hills Square (and adjacent 46,000 sq. ft. Shoppes at Forest Oaks development) fronting U.S. 421; anchor Lowe’s grocery store; developer Urbane Properties LLC (Sandy Weathersbee), 135 Perrin Place. Ste. 200, Charlotte, NC 28207, (704) 335-3800, Email: firstname.lastname@example.org. OREGON Eugene: Site work has begun for 7,972 sq. ft. Summers Oaks on .86 acres at SW corner of Crescent and Suzanne Way; project to include a restaurant and two to four retailers or offices;
center to be ready for occupancy by August; developer Triton Properties; leasing Western Properties (Dan Montgomery), 66 Club Rd, Ste. 160, Eugene, OR 97401, (541) 686-0374, Email: email@example.com. PENNSYLVANIA Penn Twp.: $20 million redevelopment planned for 135,764 sq. ft. South Hanover Shopping Center on 21 acres at 743-845 Baltimore St in York County (See SCD, P. F80); former 63,000 sq. ft. Ames to be demolished and replaced by a new 68,000 sq. ft. grocery stores; other portions of the center will be razed for a new retail strip; existing tenants include Giant Food Store, Pennsylvania Liquor Control Board Wine and Spirts shop, RentWay, and a sportswear store; opened ‘72; developer South Hanover Associates a div. of Blackford Development Ltd, 120 North Point Blvd, Penthouse Ste. 300, Lancaster, PA (continued)
General Growth Seeking Joint-Venture Partners In a move to pay off some of its capital debt of $18.7 million— which is due within the next four years—General Growth Properties is seeking joint-venture partners, primarily pension funds and life insurance companies. In addition to this, the major landlord is also considering selling off its office buildings and mortgaging some of its 200 shopping malls. Because of the slowdown in the economy and the increased tightened credit market, say knowledgeable observers, the immediate perspective for lucrative deals are not great; though it has some excellent, high-profile properties, it is also heavily in debt, with a percentage of debtto-capitalization of 66%. This compares with Simon
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Property Group with 38%, Taubman Inc with 39%, and Macerich with 48%. Much of the burden came from its acquisition in 2004 of The Rouse Co for some $12 billion, mostly financed by boroowing. Despite the industry being hit by low retail sales, an increase in retail bankruptcies and foreclosures, and the largest number of store vacancies in years, few obervers question the viability of GGP, the second largest landlord in the field. However, its stock has been depressed, 27% since the start of 2007. Its most recent sale, $822 million in March, some 7% of the company, was for $36 a share, substantially down from the high $40s and low $50s of last fall. 4/28/08
(continued) 17601, (717) 519-0100, Email: firstname.lastname@example.org. Reading: Former Burlington Coat Factory to be redeveloped as a 38,000 sq. ft. Shops at Hiester Lanes at 18541920 Kutztown Rd; retail center to house six storefronts, with an additional two pads and a parking lot; possible tenant s include a restaurant, a bank, and a fitness center; first businesses to open by June; developer Shuman Development Group (Alan Shuman), 50 North 5th St, Executive Suite, Reading, PA 19601, (610) 7363033, Email: email@example.com. SOUTH CAROLINA Goose Creek: Planned 133,000 sq. ft. Carnes Crossroads at U.S. Hwy 17A and U.S. Hwy 176 in Berkeley County; anchor Harris Teeter 48,756 sq. ft. to open by ‘10; part of planned 2400acre community to include residential, a full-service hospital, and possibly a church and private elementary school; developer Carnes Crossroads Associates, Co c/o Daniel Island Co, 230 Seven Farms Dr, Ste. 200, Charleston, SC 29492, (843) 971-3500, www. danielisland.com. TENNESSEE Memphis: New owners plan half million dollar renovation with new facade at 114,200 sq. ft. Raleigh Springs Marketplace at Austin Peak Hwy on the S side of Yale Rd in Shelby County; anchors A.J. Wright and SaveA-Lot; center has about 20,000 sq. ft. of vacant space, all in smaller bays; opened ‘83; developer Tabani Raleigh TN LLC c/o Tabani Group Inc, 2761 E Trinity Mills Rd, Ste. 114, Carrollton, TX 75006, (972) 417-5835, www. tabanigroup.com. WASHINGTON Spokane: Planned 9000 sq. ft. retail center at NE corner of Fourth Ave and Sullivan Rd; project to include two 4500 sq. ft. buildings and a courtyard; architect Bernardo-Wills Architects PC, 107 S Howard, Fourth Fl, Spokane, WA 99201, (509) 838-4511, www. bernardowills.com; contractor Eaglepointe Construction and Management Inc of Spokane, WA; developer The Wolff Cos (Joe Organick), of Scottsdale, AZ. Spokane: Initial 5000 sq. ft. of
construction nearing completion at planned 12,000 sq. ft. retail center at NW corner of Trent Ave and Fancher Rd; center to include Subway sandwich shop; a second phase of 7000 sq. ft. to include and espresso stand; developer TAG Properties LLC, of Mead, WA; contractor Vandervert Construction, 608 E Holland Ave, Spokane WA 99218(509) 467-6654 Spokane: Construction underway on 106,000 sq. ft. Fairways Plaza on 15 acres at SW corner of Aero Rd and Westbow Lane, just SE of the I-90 Medical Lake interchange; project to include six retail buildings including a supermarket; architect Russell Page Architects, of Spokane, WA; developer Fairways Commercial Investments LLC c/o Vandervert Developments
(Dick Vandervert), 608 E Holland Ave, Spokane, WA 99218, (509) 467-6654. Spokane: Construction to begin in July on $20 million, 70,000 sq. ft. Northtown Square on 5.8 acres at former Wendle Ford auto dealership; boutique shopping center to include 16 to 20 stores; opening spring ‘09; architect Nystrom, Olson, Collins, 912 W Sprague Ave, Spokan, WA 99201, (509) 328-6464, Email: info@nocarch .com; developer Northtown Square LLC, of Spokane, WA. Tacoma: Planned 42,200 sq. ft. 23 Union Square on South Union Ave, W of the Tacoma Elks Lodge; project to include a 20,000 sq. ft. anchor store; leasing First Western Properties, 520 Kirkland Way, Ste. 100, Kirkland, WA 98033-6256, (425) 822-5522.
WaMu Closing Stores, Sell $2 Billion Of Stock Washington Mutual, the Seattle-based thrift company says it will close all of its free-standing home loan branches, get out of the wholesale lending business, and raise $7 billion, including $2 billion from the sale of new stock. Hard-hit by a first-quarter net loss of $1.1 billion, it hopes that the re-trenchment will return it
to profitability in 2008 and 2009. The closings of the branches will take place in the second quarter. According to industry observers, WaMu’s total market cap is $11 billion; the moves, they say, will enable the company to meet regulatory requirements for capital ratios and satisfy ratings agencies.
Forest City Brings In Hotel Operator Forest City Enterprises has closed a deal with Starwood Hotels & Resorts to operate an Aloft Hotel at its Bolingbrook Promenade, a mixed-use project it is developing in Bolingbrook, IL. When completed, the $350 million, 200-acre development will have 2 million sq. ft. of retail, office, residential and hotel space. Sitework on a power center of about 450,000 sq. ft. is ex-
pected to get underway this summer and be completed in fall 2009. Included in the retail portion of the complex will be a Village Road Show, an upscale movie cenema. The open-air shopping center received LEED certification earlier this year. Currently, the new center, anchored by Brass Pro Shops, H&M, and Macy;s, is about 93% occupied.
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UPSCALE SPECIALTY, LIFESTYLE MIXED-USE, ENTERTAINMENT ALASKA Anchorage: Planned $40 million, 100,000 sq. ft. Crystal Plaza at Ninth Ave and F St, across from the Park Strip; 16-story mixed-use structure with street-front ground-floor retail topped by 40 high-end residential units and four levels of private on-site parking; owner Eunice Silberer; developer Crystal Plaza Development c/o architect RIM Architects (Steve Kirshner) 645 G St, Ste. 400, Anchorage, 99501, (907) 258-7777. CALIFORNIA Carson: Site work has begun on $850 million Avalon at South Bay on 168 acres between Avalon and Del Amo Blvds; project to include more than 1 million sq. ft. of retail, 1,300 housing units, and 300 hotel rooms; developer j/v LNR’s Commercial Property Group, 4350 Von Karman Ave, Ste. 200, Newport Beach, CA 92660, (949) 885-8500, www.lnrcpg.com and Hopkins Real Estate Group, 17641 Derian Ave, Ste. 106, Irvine, CA 92614, (949) 270-2400, www. hopkinsgroup.com. Dublin: Developers have purchased an adjacent 35.7 acres to develop 300,000 sq. ft. The Green on Park Place mixed-use commercial and residential project on 62.7 acres at N of I-580, S of Dublin Blvd, W of Hacienda Dr and E of Iron Horse Pkwy; anchor Whole Foods; lifestyle center to also include additional retail, office space, a hotel, and cultural uses; developer j/v Stockbridge Real Estate Funds and Blake Hunt Ventures, 411 Hartz Ave, Ste. 200, Danville, CA 94526, (925) 314-2700, www.blake hunt.com. Palm Desert: A 72,500 sq. ft., twostory “El Paseo Village” mixed-use expansion to break ground later this year at the 200,000 sq. ft. The Gardens on El Paseo on 10.6 acres at El Paseo Dr bet. Larkspur Ln and San Pablo Dr (See SCD, P. H556); project to include upscale retail, restaurant, and office space; in addition, Saks Fifth Avenue to be expanded by 27,000 sq. ft.; 50 stores; center has been dubbed the
“Rodeo Drive of the desert”; parking 1000 cars; opened ‘98; developer The Davis Land Company (Robert Perlmutter), 630 Davis St, Ste. 200, Evanston, IL 60201, (847) 425-4004, www.dslandco.com. Roseville: Construction continues on 118,000 sq. ft. Granite Bay Pavilions at Sierra College Blvd and Eureka Rd; office and retail complex to include 35,000 sq. ft. of small local shops and restaurants including the existing Corrina’s Dessert & Coffee cafe 1800 sq. ft. and Street Savvy women's apparel 1400 sq. ft. to open May 1; in addition, an independent Japanese steakhouse-sushi restaurant and a personal trainer are each slated to take about 3400 sq. ft. in about three months; developer Panattoni Development Co, 8395 Jackson Rd, Ste. F, Sacramento, CA 95826, (916) 3791123; leasing CB Richard Ellis (Chris Campbell or Scott Carruth), 555 Capitol Mall, Ste. 100, Sacramento, CA 95814-4578, (916) 446-8760, Email: firstname.lastname@example.org or email@example.com. Roseville: Ground may have already been broken on $100 million, 225,000 sq. ft. Highland Place on 15 acres at SE corner of Roseville Pkwy and Gibson Dr, abutting the Westfield Galleria mall; mixed-use project to include multiple retail shops and restaurants including Champps Americana, El Paso Grill & Bar-B-Que, and Three Tomatoes & a Mozzarella, a 151-room Hyatt Place hotel, and a Summerfield Suites; amenities will include pedestrian walking areas, large public spaces, fountains and valet parking; surrounding area to house conference centers and office cplexlxe that are currently under construction; opening May ‘09; developer Glimcher Ventures Southwest LLC, 7025 N Scottsdale Rd, Ste. 303, Scottsdale, AZ 85253, (602) 850-0501, www.gvsw.com COLORADO Brighton: Initial 950,000 sq. ft. phase of construction continues on Prairie Center at along I-76 at its intersection with the E-470 Loop (See SCD, P.
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I352); project to include a series of power centers totaling up to three million sq. ft. of retail, up to 4500 homes, condominiums, and apartments, as well as a medical office development; existing anchors include Home Depot 132,874 sq. ft., SuperTarget, and Kohl’s 89,911; existing junior anchors include Office Depot and Petsmart; Dick’s Sporting Goods and Michaels to open this summer and fall, respectively; center includes a 65,000 sq. ft. “Village Area” with Subway, Heidi's Deli, Quizno's, GNC, Elite Nails, and Dental One; additional phases to include a 275,000 sq. ft. power center anchored by JCPenney and opening spring ‘09, and a 600,000 sq. ft. power/entertainment center; population 21608 housholds; average household income $65759; developer THF Realty, 2127 Innerbelt Business Ctr Dr, Ste. 200, Saint Louis, MO 63114, (314) 429-0900. Grand Junction: Plans submitted for Fairway Plaza on 19 acres at 643 1/2 Rd, on the W side of 24 1/2 Rd between F 1/2 and F 38 Rds (N of the Mesa Mall); anchors include a 65,000 sq. ft. supermarket; mixed-use project to also include 23,800 sq. ft. of retail shops, a 60,000 sq. ft., 75-room hotel, 24,000 sq. ft. of office space, a 6000 sq. ft. restaurant and a 4000 sq. ft. Academy Bank; developer Fairway Property Investments c/o Omega Realty Associates (Dick Scariano) 1048 Independent Ave, Ste. 201, Grand Junction, CO 81505, (970) 260-0023, Email: firstname.lastname@example.org and River City Consultants (Tracy Moore), 744 Horizon Court, Ste. 110, Grand Junction, CO 81506, (970) 241-4722, Email: email@example.com. FLORIDA Davenport: First of 11 anchors to open in March and April including Target, Belk, Books-A-Million, Best Buy and Staples as part of $500 million Posner Park mixed-use development on 368 acres along I-4 in Polk County; tenants are part of $100 million, 630,000 sq. ft., Posner Commons on (continued) 4/28/08
(continued) 55 acres and including JCPenney, Dick’s Sporting Goods, Ross, Michael’s, and PetSmart to open late summer or early fall ‘08; entire project to include nearly 1.5 million sq. ft. of specialty and general retailer, over 1 million sq. ft. of office space, 2600 upscale hotel rooms, and nearly 2000 luxury multi-family residences; opening in 8 to 10 years; developer Boardwalk Land Development, Inc c/o Kitson & Partners (Richard De Lotto), 9055 Ibis Blvd, West Palm Beach, FL 33412, (561) 624-4000; leasing Trammell Crow (Larry Pantlin), 3280 Peachtree Rd, Ste. 1400, Atlanta, GA 30305, (770) 290-0510, Email: firstname.lastname@example.org or CB Richard Ellis (Barbara Halgren), (407) 404-5053. Tampa: Construction to begin in September on 1.6 million sq. ft. Southshore Commons on 128 acres at I-75 and Big Bend Rd in Hillsborough County (See SCD, P. J8); mixed-use retail project to include more than 1 million sq. ft. of retail and dining space, 490,000 sq. ft. of office space, a 16screen theater, and 250 hotel rooms; opening spring ‘10; population more than 140,000 within a 15-minute drive; average household income $54,000; developer j/v Equity (Steven E. Tombrink), 100 E Wilson Bridge Rd, Worthington, OH 43085, (614) 8022900, Email: email@example.com and Nationwide Realty, 375 N Front St, Ste. 200 , Columbus, OH 43215, (614) 857-2330, www.nationwide realtyinvestors.com. GEORGIA Brookhaven: Construction continues on $500 million, 600,000 sq. ft. TOWN/ Brookhaven on 54 acres at Peachtree Rd, adjacent to Oglethorpe University in DeKalb County (See SCD, P. I934); mixed-use project to include nearly a dozen local restaurants and 10 fashion retailers topped by 1500 residential units and including 150,000 sq. ft. of office space; Cinebistro, with seven screening rooms and dining opening in ‘09; developer The Sembler Company (Jeff Fuqua), 1450 S Johnson Ferry Rd, Ste. 100, Atlanta, GA 30319, (404) 847-1800, www.sembler.com. MARYLAND Bowie: Redevelopment to begin in ‘09
on 240,000 sq. ft. Bowie Marketplace (to be renamed “Main Street Market”) at Annapolis Rd and Superior Lane in Prince George County (See SCD, P. I481); project to include the demolition of nearly all of the existing mall to make way for a total of 185,000 sq. ft. of newly constructed retail and office space; pedestrian friendly amenities will include wide sidewalks for outdoor seating areas, water features, and improved landscaping and green space; opening ‘10; existing tenants include Safeway 43,000 sq. ft. and a 14,000 sq. ft. Rite Aid Pharmacy; opened ‘65; developer JBG Rosenfeld Retail, 7101 Wisconsin Ave, Ste. 1111, Bethesda, MD 20814-4805, (301) 657-9850, www.jbgr.com. Prince Georges County: Construction continues on $2 billion, 7 million sq. ft. National Harbor on 300 acres along the Potomac River in Prince Georges County (See SCD, P. H895); several local and national tenants have been signed; initial phase will house some 330,000 sq. ft. of retail — including 10 to 12 restaurants and an entertainment district; businesses which may have already opened including Govinda Gallery, Art Whino gallery, Erwin Pearl jeweler ,and Potbelly Sandwich Works; other retailers include Stonewall Kitchen, Alexandria's Jake's of Old Town, and Cake Love Bakery, which aims to open by July; surrounding developments include The Gaylord National Resort and Convention Center, a Hampton Inn and Westin hotel; developer The Peterson Cos (Marc Menick), 12500 Fair Lakes Circle, Ste. 400, Fairfax, VA 220333804, (703) 631-7517, Email: firstname.lastname@example.org. Queen Anne: Existing single-story strip mall to be razed for the development of a proposed three-story, mixeduse retail and residential streetscape with structure parking at N of U.S. Rt 50, just W of the Kent Narrows Bridge; large eco-friendly facility to focus on pedestrians and increasing public access to waterfront with a number of park and green space installations in the form of plazas; architect Street Sense (Bruce Leonard); developer Douglas Development (Shaun Bruce), 702 H St, NW Ste. 400, Washington, DC 20001, (202) 638-6300.
MASSACHUSETTS Boston: Planned expansion to add a luxury condo and retail tower atop 375,509 sq. ft. Copley Place on 9 acres at Dartmouth and Stuart Sts, and Huntington Ave in Suffolk County (See SCD, P. I171); project to include 60,000 sq. ft. of additional retail and restaurant space and 300 condos priced at $1 million and up; in addition, an existing 104,000 sq. ft. Neiman Marcus to be expanded by 54,000 sq. ft.; anchors also include Barney’s New York; 100 stores; parking 1400 cars; opened ‘84; last renovated in ‘02; population 1.09 million within 50 miles; average household income $70,156; developer Simon Property Group, National City Center, PO Box 7033, Indianapolis, IN 46207, (317) 636-1600, www.simon.com. Dedham: Construction has begun on 735,000 sq. ft. Legacy Place lifestyle center on 40 acres at Elm St and Providence Pkwy (See SCD, P. I893); four anchors include a 90,000 sq. ft., 16-screen cinema, Whole Foods 60,000 sq. ft, a 30,000 sq. ft. L.L. Bean, and Borders; 70 tenants include P.F. Chang’s China Bistro, Legal Sea Foods, Ruth’s Chris Steak House, Aquitaine, Yard House, Daily Grill, Finale, Anthropologie, Urban Outfitters, Free People, Lucky Brand Jeans, Banana Republic, Victoria's Secret/Pink, lucy, and lululemon athletica; parking just under 3000 cars; opening summer ‘09; developer j/v National Amusements, 200 Elm St, PO Box 9126, Dedham, MA 020279126, (781) 461-1600, www.nationalamusem.com and W/S Development Associated (Robert Fraizer), 1330 Boylston St, Ste. 212, Chestnut Hill, MA 02467-2180, (617) 232-8900, www.srweiner.com. Northborough: Plans delayed, but construction to move forward on 575,000 sq. ft. Loop-Northboro on 150 acres at Rts 9 and 20; opening ‘08; developer j/v The Wilder Companies, 800 Boylston St, Ste. 1300, Boston, MA 02199-8078, (617) 247-9200, www.wilderco.com. and Brendon Properties (Kevin Giblin), 259 Turnpike Rd, Ste. 110, Southborough, MA 01772, (508) 485.3999 West Bridgewater: Zoning change could clear the way for a proposed $80
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million, 380,000 sq. ft. Villages at West Bridgewater on 72 acres near Lincoln and W Center Sts and Rt 24; lifestyle shopping center to include a series of retail establishments and restaurants in a village format; developer Conroy Development, 800 Technology Dr, Stoughton, MA 02072, (781) 344.5656, www.conroydev.com. MONTANA Kalispell: Plans approved for initial phase of 1.8 million sq. ft. The Shops at Glacier Town Center on 485 acres E of U.S. 93 and N of West Reserve Dr in Flathead County; multi-use regional complex to include a 600,000 sq. ft. lifestyle center with three major department stores of approximately 100,000 sq. ft. each, 75 specialty retailers and several outparcels for freestanding businesses such as restaurants, banks and similar businesses; opening Oct ‘10; in addition, center will include office space, over 600 residential units, and a 5-acre community center for the City; population 185,000; average household income $59,000; developer Wolford Development (Patrick Kellner), Brabson Place, 412 Georgia Avenue, Ste. 200, Chattanooga, TN 37403-1845, (423) 874-0811, Email: pakellner@ wolforddevelopment.com. NEBRASKA Lincoln: Constrution underway on 370,000 sq. ft. The Marketplace at Village Gardens on 25 acres at 56th and Pine Lake Rd in Lancaster County; retail, office, living, and civic uses to include a specialty grocer, book store, hotel and pharmacy; opening ‘08; located within Village Gardens - a 300-acre mixed use project; population 480,432; average household income $100,000; leasing Century 4 Retail Advisors (Ken Garagiola), 8 Jackson Dr, Egg Harbor Twp, NJ 08234, (609) 926-1785, Email: email@example.com. NEVADA Summerlin: Construction continues on the $850 million, Village At Queensridge on 30 acres at Rampart Blvd and Alta Dr in Clark County (See SCD, P. I487); initial 700,000 sq. ft. phase is one year from completion and will include 500,000 sq. ft. of retail, restaurant, and entertainment space in 18 buildings topped by 200,000 sq. ft.
of office and 41 condominiums; most recent lease signings include Village Roadshow Gold Class Cinemas and Grad Lux Cafe; parking 3000 cars; a second phase of development is a 300unit for-sale residential complex housed in a 10-story building and two adjacent five-story buildings; population 200,000 in the county; average household income $100,000; developer Executive Home Builders (Patrick Done), 13105 Northwest Frwy, Ste. 102, Houston, TX 77040, (713) 6905422, Email: info@executive homebuilders.com. NEW JERSEY West Orange: Ground has been broken on Edison Village on 21 acres along Charles and West Main Sts; initial phase involves converting the historic Thomas Edison Battery Building into a combination of 310 residential units along with 18,000 sq. ft. of retail space; a second and third phase will add another 300 residences consisting of tri-level stacked townhomes, multi-story lofts and singlefamily homes and a 640-space parking structure; first phase to be completed by fall ‘09; total build-out to be completed by late ‘13; developer Prism Capital Partners, 50 Grand Ave, Englewood, NJ , (201)567-2711, www.prismpartners.net. NORTH CAROLINA Charlotte: Construction underway on 44,000 sq. ft. The Village at Robinson Farm on seven acres at Rea Rd and Williams Pond Ln; project could include a spa, hair and nail salons, home furnishings, an alteration shop with dry cleaning, optical office, wireless phone providers, and clothing and shoe boutiques; project is the first U.S. “green” mixed-use project according to the U.S. Green Building Council; opening in September; developer Lat Purser & Associates, 4530 Park Rd, Ste. 300, Charlotte, NC 28209, (757) 422-9234. OHIO New Albany: Planned $100 million Albany Park on 300 acres along Hamilton Rd, between State Rt 161 and Dublin-Granville Rd; mixed-use retail development to include a 300,000 sq. ft. lifestyle center with two 100,000 sq. ft. anchors (possibly Target);
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another 200,000 sq. ft. of retail, in the form of inline space and 27 outparcels, office, and possibly a hotel; 40 acres will be reserved for wetlands; opening in three-to-five years; developer Casto, 191 W Nationwide Blvd, Ste. 200, Columbus, OH 43215-2568, (614) 228-5331, www.castoinfo.com. OREGON Eugene: Construction continues on Crescent Village; mixed-use development to include a pair of ‘town center’ buildings with ground floor retail space topped by three floors of apartments, along with additional free-standing retail and office buildings, and 40 units of three-story detached townhouses; future phases of development may include additional apartments, a condominium building, and a 50,000 sq. ft. grocery store; developer Arlie & Company, 871 Country Club Rd, Eugene, OR , (541) 344-5500, www. arlie.com. PENNSYLVANIA Chester: Construction will begin this fall on $500 million mixed-use project on 70 acres on the waterfront and adjacent to a soon-to-be constructed 20,000-seat waterfront stadium and entertainment complex; project to include 42,000 sq. ft. of retail, including an 8000 sq. ft. restaurant, 435,000 sq. ft. of office space, a 200,000 sq. ft. convention center, a community marina and greenways, and a 1350-car parking structure; opening over the next five years; developer The Buccini/Pollin Group, 322 A St, Ste. 300, Wilmington, DE 19801, (302) 691-2100, www.bpgroup.net. TENNESSEE Knoxville: Plans unveiled and ground could be broken within two months on Downtown at Farragut on 27 acres at on Kingston Pke between the Town Hall and Kohl’s; mixed-use project to include 175,000 sq. ft. of retail/dining/ entertainment space and 150,000 sq. ft. of offices – with loft residences overhead – surrounding a new town square and lake; initial building will be a four-story, 48,000 sq. ft. structure with retail space on the first two floors, office space on the third floor , and residential space on the fourth; developer Southern Home Develop(continued) 4/28/08
(continued) ment (Michael Bates), 5410 Homberg Dr, Ste. A, Knoxville, TN 37919, (865) 584-4175. TEXAS Arlington: Construction to get underway in the next several months on $742 million ,1.4 million sq. ft. Glorypark sports-themed, mixed-use project at I-30 and State Hwy 360; across the street from the Texas Rangers Ballpark at Arlington and a half-mile from the new $1.1 billion Dallas Cowboys football stadium; project to include 825,000 sq. ft. of retail space, restaurants, entertainment, apartments, offices and hotels, including a 180,000 sq. ft. department store, 200,000 sq. ft. of offices, 332 rental apartments and two Starwood hotels – a 300-room Westin and a 135room Aloft; population 363,000; average household income $47,498; developer j/v Hicks Holdings LLC and Steiner + Associates, 4016 Townsfair Way, Ste. 201, Columbus, OH 432196013, (614) 414-7300, www.steiner .com. Richardson: Ground has been broken on $140 million, Brick Row on 30 acres at 111 E. Spring Valley Rd; mixed-use urban destination to be anchored by a DART light rail station; will include 36,000 sq. ft. of retail including a 2000 sq. ft. Dunkin Donuts, boutique local shops, well-known restaurants and prominent retailers; two freestanding buildings with 20,000 sq. ft., will be topped off 10,000 sq. ft. second-floor office space while the remaining 16,000 sq. ft. of retail will be park of the apartment buildings; in addition, 140 townhomes will be available beginning in the fourth
quarter, three multifamily buildings, totaling 500 units, and a two-acre park and hike and bike trails; later phases to include two 50-unit condo buildings and possibly an additional 200 condos; initial phase to open in ‘10; architects BGO Architects of Dallas, TX; developer j/v Winston Capital Group of Dallas, TX and L&B Realty Advisors, 8750 N Central Expwy, Ste. 800, Dallas, TX 75231-6437, (214) 989-0800. San Antonio: Planned 1 million sq. ft. Town Center at La Cantera on 178 acres bordered by the 1.3 million sq. ft. Shops at La Cantera and La Cantera Town Square; mixed-use upscale retail, office, boutique hotel and approximately 500 residential units; 24-hour, pedestrian-friendly, live/ work/shop environment; plans also include a 25-acre park; developer USAA Real Estate Co, 9830 Colonnade Blvd, Ste. 600, San Antonio, TX 78230, (210) 498-7541, www.usaarealestate company.com. VIRGINIA Richmond: Chesterfield County has approved rezoning for a proposed Chippenham Place (former site of Cloverleaf Mall) on 83 acres along Midlothian Tpk, just W of Chippenham Pkwy (See SCD, P. G815); mixed-use project to include 400,000 sq. ft. of commercial and office space and 520 residences; anchor Kroger 120,000 sq. ft. could be open by late ‘09; developer Crosland LLC, 227 W Trade St, Ste. 800, Charlotte, NC 28202, (704) 5615272, www.crosland.com. WASHINGTON Bellevue: Construction continues on 1.6 million sq. ft. Bravern on six acres
at 110th Ave NE and NE 8th St; project includes 305,000 sq. ft. of luxury retail space anchored by a 125,000 sq. ft. Neiman Marcus, 750,000 sq. ft. of office space in two high-rise towers, and two 29-story residential towers containing 456 for-sale apartments; parking 3200 cars; office space to open mid-‘08 and remainder of development to open by end of ‘09; developer j/v 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: firstname.lastname@example.org. CANADA Edmonton, AB: Construction to begin this spring on 1.1 million sq. ft. of retail at Currents at Windermere on 105 acres at Anthony Henday and 170 St/Terwillegar Dr (See SCD, P. I646); project to feature two distinct districts, the 700,000 sq. ft. "Village Perimeter," anchored by Wal-Mart, Home Depot and Canadian Tire to open by fall ‘08; the 450,000 sq. ft. "Urban Village" with streetfront retail anchored by a movie theater, grocer, and surrounded by a town square with 300 residential units and 40,000 sq. ft. of office space to open by spring ‘10; leasing for "Village Perimeter", Harvard Developments Inc (Blair Forster) 2000-1874 Scarth St, Regina, SK S4P 4B3, (306) 777-0669, Email: bforster@harvard .ca; leasing for "Urban Village", Taurus Property Group (Paul McCloy), Ste. 205, 625-11th Ave SW, Calgary, AB T2R 0E1, (403) 206-2130, Email: email@example.com.
CENTERS WITH LEASE SPACE AVAILABLE ARIZONA Mesa: 400,000 sq. ft. Dana Park Village Square at Val Vista and Baseline Rds (See SCD, P. G213); Z Gallerie and Anthropologie to open in June, upscale shopping center includes AJ’s Fine Foods, Barnes & Noble, Chico’s, White House | Black Market, Ra Sushi Bar Restarurant, Coldwater Creek; developer/ leasing Triple Five Arizona Development Corp (Heather
Brechbill), 1744 S Val Vista Dr, Ste. 204, Mesa, AZ 85204-7365, (480) 890-0555, Email: heather.brechbill @triplefive.com. CALIFORNIA City of Commerce: 275,000 sq. ft. Citadel Outlets at E Telegraph Road, I-5 @ the Atlantic Blvd N (See SCD, P. I558); remodeling and expansion recently completed; newest tenants include Limited Two and Fresca’s
Mexican Grill join Old Navy BCBG, Tommy Hilfiger, Eddie Bauer, Ruby’s Diner; 85 stores; part of a 742,000 sq. ft. mixed-use community, featuring a 201-room Doubletree Hotel and four multi-tenant office buildings; population 3.3 million within 10 miles; average household income $44,691; developer/leasing Craig Realty (Steven L. Craig), 1500 Quail St, Ste. 100, Newport Beach, CA 92660-2737, (949)
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224-4100, Email: steve@craigrealty group.com. Irvine: 1.15 million sq. ft. Irvine Spectrum Center on 29 acres at Alton Pkwy and Irvine Center Dr in Orange County (See SCD, P. I515); newest tenants Tommy Bahama and Pinkberry yogurt shop to join 75 stores including Brookstone, Juxtapose, Hot Topic, Just For Sports, Barnes & Noble, Edwards 21 Cinemas, Improv Comedy Club, Dave & Buster’s, The Cheesecake Factory, Target and Nordstrom; parking 6000 cars; opened Nov ‘95; population 2.2 million within 20 miles; average household average $74,000; developer/leasing The Irvine Co (Heather Hollister), 100 Innovation, Irvine, CA 96217, (949) 720-2531, Email: hhollister@irvinecompany .com. Mira Loma: 385,000 sq. ft. Vernola Marketplace on 40 acres at SE corner of Limonite Ave and I-15 in Riverside County (See SCD, P. I533); center opened on April 16th; anchors Lowe’s 150,000 sq. ft., Circuit City, and Bed Bath & Beyond; other tenants include Beverages & More, Petco, Ross Dress For Less, Payless Shoe Source and Michaels; parking 1988 cars; developer/leasing Hopkins Real Estate Group (Brian Hopkins), 17461 Derian Ave, Ste. 106, Irvine, CA 92614, (949) 270-2405, Email: bhopkins@hopkins group.com Pico Rivera: 30,000 sq. ft. Pico Plaza on 2.5 acres at 9317 and 9321 Whittier Blvd; redevelopment recently completed; 9,000 sq. ft. available; tenants include Rite Aid, Subway, and Starbucks; developer j/v Heslin Holdings (Matthew J. Heslin), 5015 Birch St, Ste. 119, Newport Beach, CA 92660, (949) 265-7001, Email: firstname.lastname@example.org and Retail Holdings LLC, 3262 Holiday Ct. #100, La Jolla, CA 92037, (858) 713-9309; leasing CB Richard Ellis,4365 Executive Dr, Ste.1600, San Diego CA 92121, (858) 646-4718, www.cbre.com/retail. COLORADO Durango: 218,813 sq. ft. Durango Mall at East-West and North-South U.S. Hwys (See SCD, P. E926); newly renovated center is anchored by JCPenney and Sears; other tenants include Linens ‘n things, Pier 1,
Zumiez, Pac Sun, and Christopher & Banks; average household income $58921.00; leasing Century 4 Retail Advisors, LLC (Ken Garagiola), 8 Jackson Dr, Egg Harbor Twp, NJ 08234-5957, (609) 926-1785, Email: email@example.com. Greeley: 577,200 sq. ft. Greeley Mall on 60 acres at U.S. Hwy 34 at 23rd Ave in Weld County (See SCD, P. I559); Dillard’s is one of several stores closing; other anchors include Cinemark Theater, JCPenney and Sears; 70 stores; parking 4001 cars; opened ‘73; population 175,574 within 30 miles; average household income $68,749; developer GK Development (Garo Kholamian), 303 E Main St, Ste. 201, Barrington, IL 60010, (847) 277-9930, Email: firstname.lastname@example.org. Westminster: 968,000 sq. ft. Orchard Town Center on 188 of 215 acres at NW corner of I-25 and 144th Ave in Adams County (See SCD, P. I934); center opened on April 3rd; anchors JCPenney, SuperTarget, Macy’s, and 12-screen AMC theater; 60 to 80 stores include Aeropostale, Key Jewelers, Rocky Mountain Chocolate Factory, Victoria’s Secret, Rock Bottom Brewery, Mimi’s Cafe, and Red Robin; population 515,000; developer/leasing Forest City Enterprises, 1100 Terminal Tower, 50 Public Sq, Cleveland, OH 44113-2203, (216) 621-6060, www. fceinc.com. CONNECTICUT Waterbury: 1,100,000 sq. ft. Brass Mill Center on 87 acres at Union St and E. Main St in New Haven County (See SCD, P. G837 ); Forever21 to open later this year in 10,000 sq. ft. space formerly occupied by Walgreen's; anchors Sears, Burlington Coat Factory, Steve & Barry's, JCPenney, and Hoyts 12-screen stadium multiplex; 150 stores; parking 5745 cars; opened ‘97; population 337,700 within 10 miles; average household income $63,700; developer /leasing General Growth Properties, 110 N. Wacker, Chicago, IL 60606, (312) 960-5000, www.generalgrowth.com. FLORIDA St. Augustine: 315,000 sq. ft. Prime Outlets - St. Augustine at I-95 and State Rd 16 (See SCD, P. E754); BCBG Maz Azria Factory Store 2160 sq. ft.
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
has recently opened; 70 stores include Fossil, Bath & Body Works Outlet, Le Gourmet Chef, Guess, Timberland Factory Store, and rue 21; parking 1800 cars; opened ‘99; population 1.2 million within 50 miles; average household income $52,600; developer/ leasing Prime Retail, 217 E. Redwood St, 20th Fl, Baltimore, MD 21202, (410) 234-0782, www.primeoutlets.com. GEORGIA Macon: 750,000 sq. ft. The Shoppes at River Crossing at Riverside Dr and I-75 in Bibb County (See SCD, P. J26); center has opened with 44 stores and Belk to open a 132,000 sq. ft. anchor store in Oct ‘08; tenants include Dillard’s 200,000 sq. ft., Circuit City, Dick’s Sporting Goods, Barnes and Noble; parking 3250 cars population 350,000 to 390,000 within 30 miles; developer joint venture General Growth Properties, 110 N Wacker 11, Chicago, IL 60606-1116, (312) 9605000, www.generalgrowth.com and Jim Wilson & Associates, 2660 Eastchase Ln, Ste. 100, Montgomery, AL 36117, (334) 260-2500, www. jwamalls.com. INDIANA Greenwood: 374,769 sq. ft. Greenwood Place at NE corner of U.S. 31 and Stop 11 Rd in Marion County; a 32.589 sq. ft. Lifestyle Family Fitness has opened and three national restaurants to be announced soon; anchor Flower Factory Wholesale Superstore 95,000 sq. ft.; 36 stores include McAlister’s Deli, United Art and Education, Wing Stop, 5 Guys Burgers, Las Margarita's Mexican Restaurant and Cell Phonz ; parking 1833 cars; opened/opening ’84; last renovated in ’06; population 81,120 within 3 miles; average household income $60436.00; developer The Broadbent Company (Jeff Roberts), 201 N Illinois St Fl 23, Indianapolis, IN 46204-1904, (888) 664-2900, Email: jroberts@broadbent co.com. MASSACHUSETTS East Harwich: 42,881 sq. ft. Harwich East Plaza at Rts 39 and 137; new owners; 97% leased; 19 stores include 400 East Restaurant, Harwich Liquors, Wachovie Securities, Hollywood Video and the UPS Store; owner Linear (continued) 4/28/08
(continued) Retail Properties LLC, Five Burlington Woods Dr, Burlington, MA 01803, (781) 273-5665, www.linearretail .com. NEW JERSEY Allendale: 84,290 sq. ft. Allendale Shopping Plaza on 5 acres at W Allendale Ave and DeMurcurio Dr in Bergen County (See SCD, P. H728); 1700 sq. ft. available; anchors A&P Fresh 38,060 sq. ft. Commerce Bank 11,290 sq. ft. and Learning Express 3260 sq. ft.; tenants also include McDonalds, RE/MAX, Dairy Queen, and 10 others; 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) 444-9888, Email: jazarian @azariangroup.com or arothstein @azariangroup.com. Jeffferson Twp: 55,750 sq. ft. Milton Shopping Center on 11 acres at Berkshire Valley Rd and Chamberlain Rd in Sussex County (See SCD, P. G78); 2500 sq. ft. and 1140 sq. ft. available; anchors U.S. Post Office 2000 sq. ft. and Century 21 2500 sq. ft.; parking 352 cars; opened ‘96; average household income $73,587; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 444-9888, Email: jazarian @azariangroup.com or arothstein @azariangroup.com. Ringwood: 90,840 sq. ft. Fieldstone Park Shopping Center on 11.9 acres at Skyline Dr, Rt 208 and Rt 287 in Passaic County (See SCD, P. G338); 840 sq. ft., 1420 sq. ft. and 1988 sq. ft. available for retail or office; anchors Stop & Shop 36,810 sq. ft., Wachovia, Rite Aid, and U.S. Post Office; parking
356 cars; opened ‘72; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 4449888, Email: jazarian@azariangroup .com or arothstein@azariangroup .com. Rockaway: 7229 sq. ft. Mountain Plaza Shopping Center on .75 acres at Rt 46 E and Marlin Dr in Morris County (See SCD, P. G786); 1500 sq. ft. endcap and a 1230 sq. ft. endcap available for food or retail tenants; anchors Mothers’s Performance Center 3000 sq. ft. and Subway 1500 sq. ft.; 4 stores; parking 40 cars; opened ‘65; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 4449888, Email: jazarian@azariangroup .com or arothstein@azariangroup .com. Sayreville: 65,000 sq. ft. Raritan International Center on 13.73 acres at Raritan St & Main St (See SCD, P. H756); 2500 sq. ft., 3800 sq. ft. (will subdivide), and 13,650 sq. ft. available for retail, food or fitness; anchors Drug Fair 19,898 sq. ft., Family Dollar 10,173 sq. ft. and The Learning Center 10,000 sq. ft.; 9 other stores include Subway; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 444-9888, Email: jazarian @azariangroup.com or arothstein @azariangroup.com. West Paterson: 50,000 sq. ft. Lenox Plaza on 5.25 acres at Rt 46 W and McBride Ave in Bergen County (See SCD, P. F420); 900 sq. ft., 1280 sq. ft. 4313 sq. ft. for retail or food tenants; anchors Golfsmith 18,502 sq. ft. Party City 11,800 sq. ft., and Sleepy’s 7054 sq. ft.; other tenants include Pizza Hut, TD BankNorth, Blimpie, Chicken
King Soopers Buys Denver Shopping Centers King Soopers grocery chain, owned by the Cincinnati, OHbased Kroger Co, has acquired the Belcaro Shopping Center in Denver for $19.4 million. J94
Containing about 100,000 sq. ft. of retail space, the four-building complex on S. Colorado Blvd, was acquired March 14 from Catellus Development Corp.
Delight, and Happy Nails & Spa; population 413,633 within 5 miles; average household income $62,936; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 444-9888, Email: jazarian @azariangroup.com or arothstein @azariangroup.com. NEW YORK Hyde Park: 130,000 sq. ft. Hyde Park Mall on 15 acres at Rt 9 (Albany Post Rd) and Farm Ln/Kessler Dr in Dutchess County (See SCD, P. I170); 35,460 sq. ft., 6690 sq. ft., and 6047 sq. ft. available for food or retail tenants; anchors Super Stop & Shop 63,600 sq. ft. and Hudson Valley Federal Credit Union 7460 sq. ft.; seven other tenants include Radio Shack; parking 300 cars; opened ‘72; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 4449888, Email: jazarian@azariangroup .com or arothstein@azariangroup .com. Orangeburg: 25,000 sq. ft. Town Plaza II on 2.5 acres at Rt 303 and Mountainview Ave in Rockland County (See SCD, P. I560); 900 sq. ft., 1280 sq. ft. 4313 sq. ft. (will subdivide) available for retail or food; anchors Marty’s Bagels, L’Artists and A&A Deli; parking 103 cars; population 40,000; average household income $129000.00; leasing Azarian Realty Co (John Azarian or Aaron Rothstein), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 4449888, Email: jazarian@azariangroup .com or arothstein@azariangroup .com. NORTH DAKOTA Bismarck: 520,000 sq. ft. Pinehurst Square on 51 acres at Century Ave and Interstate Ave in Burleigh County; 7738 sq. ft., 2500 sq. ft., 2000 sq. ft., 2506 sq. ft. and 1147 sq. ft. available; anchors Lowe’s 165,000 sq. ft. and Kohl’s; 18 tenants include Starbucks, TJMaxx, Old Navy, Lane Bryant, David’s Bridal, Shoe Carnival and PetSmart; opened ‘05; average household income $70,918; owner The Woodmont Company, 2100 W 7th St, Fort Worth, TX 76107, 800-299-9972; leasing Duemelands Commercial (Jill
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Duemeland and April Eide), 301 E Thayer Ave, Bismark, ND 58501, (701) 221-9033, Email: jill@ duemelands.com or april@duemelands .com TENNESSEE Cordova: 169,000 sq. ft. Countrywood Crossing at 2257 N Germantown Pkwy; new owners; 94% leased; anchor Gordmans 60,000 sq. ft.; tenants also include Ross Dress for Less, Shoe Carnival, Kirkland’s, and Pei Wei Asian Diner; opened ‘07; owner/ leasing The Inland Real Estate Group of Companies, Inc, 2901 Butterfield Rd, Oak Brook, IL 60523, (630) 2188000. Nashville: 735,000 sq. ft. The Mall at Green Hills at Hillsboro & Abbott Martin Rds (See SCD, P. I572); newest signed luxury tenants include Brooks Brothers 9495 sq. ft. and Lacoste 1703
sq. ft.; anchor Dillard’s and Hecht’s; 115 stores; parking 2868 cars; opened ‘55; population 148,181 within 5 miles; average household income $74,000; owner/leasing Davis Street Land Company (Karen Land), 622 Davis St, Ste. 200, Evanston, IL 60201, (847) 4254004, Email: email@example.com. TEXAS Cypress: 430,000 sq. ft. Houston Premium Outlets on 75 acres at near TX 290, between Mason Rd and Fairfield Dr in Harris County (See SCD, P. I740); opened in March; 120 brand-name outlet stores include Adidas, Ann Taylor, Banana Republic Factory Store, and Bebe; developer/ leasing Chelsea Property Group (Michele Rothstein), 103 Eisenhower Pkwy, Roseland, NJ 07068-1029, (973) 228-6111. Email: shopper@ premiumoutlets.com.
RETAILERS SEEKING SPACE APPAREL Charming Shoppes, Inc dba Lane Bryant, Catherine’s, and Fashion Bug of 450 Winks Lane, Bensalem, PA 19020; currently operating 896 Lane Bryant stores, 468 Catherine's stores, and 989 Fashion Bug stores nationwide; plan to open 45 to 55 stores this year, primarily in its plus-sized Lane Bryant chain; seeking 5000 sq. ft. for Lane Bryant, 4000 sq. ft. for Catherine's, and 7000 sq. ft. for Fashion Bug locations mainly in downtown areas and strip centers, and some malls. Jonathon Graub, SVP, (215) 638-6909, Fax (215) 638-6919, Email: jon. firstname.lastname@example.org. Ross Stores, Inc dba Ross Dress For Less and dd Discounts of 4440 Rosewood Dr, PLEE41, Pleasanton, CA 94588-3050; currently operating 838 Ross units and 54 dd’s Discount locations in 26 states, primarily in the West and Southeast; in ‘08, company plans to open 65 to 70 new Ross stores and only five dd’s stores; seeking about 30,000 sq. ft. for Ross and 25,000 sq. ft. for dd’s in community strip centers/ downtown locations/central business districts, enclosed regional and super regional malls, freestanding sites, lifestyle and mixed-use centers, neighborhood strip centers, and power
centers in existing markets. Gregg McGillis, GVP Real Estate, (925) 9654764, Fax (925) 965-4174. Email: email@example.com. Talbots and J. Jill div. of Talbots Inc of 175 Beal St, Hingham, MA 2043; currently operating 1128 Talbots and 241 J. Jill stores; company is streamlining stores and plans to carve out more space for stronger categories such as plus sizes, accessories, and Collection merchandise. Real Estate Director, (781) 749-7600, Fax (781) 741-4369, www.talbots.com. Urban Outfitters, Inc dba Urban Outfitters, Anthropologie, Free People, and Terrain of 1809 Walnut St, Philadelphia, PA 19103; currently
operating 122 Urban Outfitter stores, 100 Anthropologie stores and 13 Free People stores in U.S., Canada and Europe; company has acquired J. Franklin Styler Nurseries in Philadelphia and plans to open its first Terrain garden and home goods store this month; in addition, plans call for 45 to 49 new stores in its other banners in ‘09; seeking 9000 sq. ft. to 10,000 sq. ft. in community malls, downtown areas, freestanding sites, lifestyle centers, and ‘A’ malls; Free People locations require 2000 sq. ft. Glen A. Bodzy, (215) 454-5500, Fax (215) 4544660, Email: firstname.lastname@example.org. BARBER/BEAUTY SALONS First Choice Haircutters and Supercuts div. of Regis Corp c/o Pro Comm Realty Corp of 319 Still’s Lane, Oakville, ON L6J 5Y5; currently operating 350 First Choice locations Canada-wide; expanding; seeking 900 sq. ft. to 1000 sq. ft. in “AAA” sites in well anchored strip centres. For leasing inquiries, excluding indoor shopping centres, contact Les Kapuscinski, (905) 338-8080, Fax (905) 609-1000, Email: email@example.com. For all Canadian leasing inquiries contact Erik Busch at Regis Corp, 7201 Metro Blvd, Minneapolis, MN 55439 (952) 9184716, Fax (952) 995-3108, Email: firstname.lastname@example.org Trade Secret (to be renamed Pure Beauty) div. of Regis Corp of 7201 Metro Blvd, Minneapolis, MN 554392130; currently operating 630 units; locations will now offer cosmetics, skin care and bath and body products to compete with other chains including Bath & Body Works, Ulta, and Sephora; this year, about 200 stores (continued)
Ikea Will Open 2 Stores In SE Swedish home furnishings retailer Ikea has one new store under construction in Charlotte, NC, and will begin construction on a unit in Tampa, FL, in the summer. Spokesmen for the chain said both stores will be over 350,000 sq. ft. They will be serviced by
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
the Savannah, GA, distribution center, which will be responsible for all six of its units in the Southeast. When the Charlotte unit opens next spring, Crrescent Resources will develop the surrounding 175-acre mixed-use Belgate complex. 4/28/08
(continued) will be converted to Pure Beauty beginning in July; seeking 1200 sq. ft. to 1500 sq. ft. in high-traffic regional malls in medium-large markets; throughout the U.S., Canada, and Puerto Rico; David Foley, (952) 9184704, Fax (954) 918-4751, Email: email@example.com. DISCOUNT & VARIETY Wal-Mart Stores, Inc dba Wal-Mart Supercenters, Sam’s Clubs, and Neighborhood Market of 702 SW Eighth Street, Bentonville, AR 72716; currently operating nearly 6600 stores in 14 countries; company has opened 81 new stores in March which is onethird of the new stores planned for the U.S. this year. Eric Zorn, SVP Real Estate, (501) 273-4000, Fax (501) 2736503, Email: firstname.lastname@example.org. DRUG STORES Shoppers Drug Mart dba Shoppers, Pharmaprix, and Shoppers Home Health Care of 243 Consumers Rd, North York, ON M2J 4W8; company currently has 140 beauty boutiques in its 1080 stores Canada-wide; company plans to introduce a 5600 sq. ft. smaller store format focused on health and beauty products and offering a wider assortment of luxury cosmetics; first location to open in ON in July; seeking 15,000 sq. ft. for large format stores in street fronts, enclosed malls, and strip plazas. Larry Balaban, National VP Real Estate, (416) 493-1220, Fax (416) 490-2547, Email: lbalaban@shoppers drugmart.ca. FOOD, CANDY, ICE CREAM Baltimore Coffee & Tea Co of 9 West Aylesbury Rd, Lutherville, MD 21093; currently operating two outlets in Baltimore and Annapolis; 118 year-
old company imports, roasts, and retails gourmet coffees and teas; stores also feature breakfast and lunch items as well as gelato, desserts, gifts, gourmet candy and gift cards; a new outlet to open in Fredrick, MD in May; plan to open 10 locations in the next five years; seeking 2700 sq. ft. Real Estate Director, (800) 823-1408, Fax (410) 561-4816, www.baltcoffee.com. Coffee Culture Cafe & Eatery c/o Obsidian Group Inc of 2556 Meadowpine Blvd, Mississauga, ON L5N 6P9; currently operating 33 locations; plan to open as many as 50 new units in the next 12 to 18 months; seeking 1500 sq. ft. to 2200 sq. ft., ideally 1900 sq. ft.; targeting ON markets with a population base over 5000. Danny Grammenopoulos, (905) 814-8030, Fax (905) 814-8272, Email: dannyg@ obsidiangroupinc.com. Cuppy’s Coffee & More, LLC of 348 Miracle Strip Pkwy, Ste. 10C, Fort Walton Beach, FL 32548; currently operating 70 locations throughout AZ, CA, FL, ID, IN, LA, MS, NC, NY, TX, VA, and WI; chain offers, coffee, smoothies and more plan to open three to five new locations in both ‘08 and ‘09; seeking 1000 sq. ft. in community strip centers, downtown/central business districts, enclosed regional or super regional malls, freestanding, lifestyle or mixed-use centers, neighborhood strip centers, outlet centers, pad sites/outparcels, and power centers in 38 states nationwide. Ben Doyle, (888) 241-4324, Fax (850) 243-0593, www.cuppys.com JuiceBlendz of 4543 Weston Rd, Weston, FL 33331; currently operating 11 locations throughout South Florida selling all-natural smoothies, juices, eats and dietary supplements; plans to
Roy Rogers Plans To Come Back Frederick, MD-based Roy Rogers Restaurants, which at its peak had 648 units and is now down to less than 50, is planning a major comeback, depending on franchising and the return of loyal customers. Jim Plamondon, co-president J96
of the chain, bought the company with his brother some eight years ago. It was sold by Marriott to Hardee’s in 1990 in a deal valued at $365 million; the closing of its restaurants began shortly after.
have 30 stores by ‘09; seeking freestanding stores, sites within shopping centers, arena and airport kiosks, primarily in FL, including Orlando and Tampa; company will open some stores outside FL later in ‘08. Real Estate Director, (954) 2173014, www.juiceblendz.com Leeann Chin c/o Shopping Center Real Estate Inc of PO Box 40, 1204 E Oak Island Dr, Oak Island, NC 28465; currently operating 40 Asian Cuisine deli/cafes throughout MN and WI; expanding in MN in ‘08 and other areas in ‘09 and ‘10; seeking 1200 sq. ft. to 2500 sq. ft. in open-air centers, office buildings, upscale strip centers. Ben Viloski, (910) 278-7460, Fax (910) 278-7443, Email: ben@ benviloski.com. Mandarin Express c/o Shopping Center Real Estate Inc of PO Box 40, 1204 E Oak Island Dr, Oak Island, NC 28465; currently operating 26 food court units in malls, primarily in the SE; seeking 600 sq. ft. to 800 sq. ft. in food courts in malls, lifestyle centers, airports, office buildings, and college campuses throughout NC, SC, GA, FL, LA, TN, MS, KY, and TX. Ben Viloski, (910) 278-7460, Fax (910) 2787443, Email: email@example.com. Moonstruck Chocolate Company of 6600 N Baltimore Ave, Portland, OR 97203; currently operating 14 locations throughout OR, CA, IL, MI, MA, and VA; plan to open three more cafes across the country by ‘09. Real Estate Director, (503) 247-3448, www. moonstruckchocolate.com. Shakey’s Pizza Parlor div. of Shakey’s USA of 2200 W Valley Blvd, Alhambra, CA 91803; CA restaurant chain serves original thin crust pizza, crispy fried chicken and famous Mojo Potatoes; plan to open six new stores in ‘08; in addition, four new area development agreements represent 10 new locations; all existing restaurants to be remodeled by March ‘09. Real Estate Director, (626) 576-0616, Email: firstname.lastname@example.org. GENERAL MERCHANDISE Dollar General and Dollar General Market c/o Dollar General Corp of 100 Mission Rd, Goodlettsville, TN 37072; currently operating 8200 discount stores in 35 states; company
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plans to open approximately 200 new stores in ‘08 and to relocate or remodel approximately 400 units nationwide. Gayle C. Aertker, Senior Vice President Real Estate & Store Development, (615) 855-5243, Fax (615) 855-4736, Email: email@example.com. HOME DECOR/FURNISHINGS Designs of the Interior of 18-3 East Dundee Rd, Ste. 308, Barrington, IL 60010; currently operating 27 stores throughout AZ, CA, CO, FL, GA, IL, MA, MO, OH, OR, SC, TX, and WI; company is known for its offerings of window treatments, lighting, furnitue and design services; plans 20 new stores in ‘08; seeking 10,000 sq. ft. to 15,000 sq. ft. in CA; location also require 16 to 20 foot ceilings and a population of 300,000 within a sevenmile radius. Jenny Alvarado, Real Estate Representative, (847) 713-2622, Fax (847) 713-2636, www.doti.com. EQ3 Furniture and Accents of 70 Lexington Park, Winnipeg, MB R2G 4H2; currently operating 21 stores throughout North America; showrooms offers affordable furnishings for living alone or with others; first store to open in FL in the fourth quarter followed by three or more stores in Southeast FL; other major urban areas including Orlando, Tampa, and Jacksonville and then infill locations will be considered; seeking 11,000 sq. ft. Real Estate Director, firstname.lastname@example.org. Williams-Sonoma Inc dba WilliamsSonoma, Pottery Barn, Pottery Barn Kids, PBteen, and West Elm of 3250 Van Ness Ave, San Francisco, CA 94109; currently operating 600 stores; company plans to open 29 new units: 6 Williams-Sonoma, 6 Pottery Barns, 2 Pottery Barn Kids, 12 West Elm stores, 2 outlet stores, and 1 Williams-Sonoma Home unit; seeking 4500 sq. ft. to 6500 sq. ft.; regional malls, lifestyle centers and urban streets; lans also call for 20 remodels. Arthur Tropp, SVP Real Estate, (415) 402-5077, Fax (616) 439-7725, Email: email@example.com. JEWELRY Tiffany & Co Collections of 555 Fifth Ave, 6th Fl, New York, NY 10022; currently operating 184 units worldwide; plan to open six new stores in the U.S. including one smaller 2000 sq. ft. format in Los Angeles; seeking
6000 sq. ft. to 8000 sq. ft. in downtown locations, freestanding units,and regional malls. Lisa Gibson, Director, (646) 428-5557, Fax: (646) 428-5612, Email: firstname.lastname@example.org. MOVIE THEATERS Cinetopia of 11700 SE 7th St, Vancouver, WA 98683; currently operating one location in Vancouver, WA; luxury movie house to open a 12screen theater with 1400 seats at the planned Progress Ridge Shopping Center in Beaverton, OR; a second location is planned for Everett Riverfront in Everett, WA with 16screens. Rudyard Coltman, Owner, (360) 213-2800, www.cinetopia theaters.com. SPORTING GOODS Hibbett Sports of 451 Industrial Lane, Birmingham, AL 35211; currently operating 688 stores throughout 23 Mid-Atlantic, Sunbelt, and Southwest states; stores offer athletic shoes, apparel, and team sporting goods; plan to open 70 locations from ‘08 to ‘09; seeking centers with fashion or discount dept. store anchors; seeking
5000 sq. ft. in strips and malls; small to mid-sized markets, suburbs, and into MD, DE, and PA. Jeff Gray, VP-real estate; David Bordsen, Mid-Atlantic Broker, (919) 370-7627, Email: email@example.com. L.L. Bean of 15 Casco St, Freeport, ME 04033; currently operating 12 retail stores and 15 outlets in the Northeast; plan to operate 32 fullprice stores by ‘12 in community malls, freestanding sites, outlet malls, and strip malls; newest store to open in the Ross Park Mall in Pittsburgh, PA. Mary Lou Kelley, VP Real Estate & Marketing, (207) 552-2761, Fax (207) 5527773, Email: firstname.lastname@example.org. SUPERMARKETS Fresh & Easy Neighborhood Markets div. of Tesco USA of 2120 Park Place, #200, El Segundo, CA 90245; currently operating 58 stores throughout Southern CA, NV and AZ; company will open ten additional locations in AZ; seeking 10,000 sq. ft. in CA, AZ, NV. Tony Eggs, Chief Real Estate Director, (310) 341-1218, Fax (310) 341-1501, Email: stacy. email@example.com.
Shakeup At Dollar General Wayne Gibson, who in 2005 joined Dollar General Market retail store division to head up its development, has resigned, as has Beryl Buley, division president of merchandising. David Bere, president and
COO, was named president and chief strategic officer, as part of a management shakeup to turn around profitability. Dollar General currently operates 8200 discount stores in 35 states.
Blockbuster Makes Offer For Circuit City Stores Dallas, TX-based Blockbuster says it has made an offer to acquire Circuit City Stores for at least $6.00 per share, over $1 billion, subject to due diligence, and is making the offer public to enable stockholders to make a determination. The move was sent to Circuit City chairman and CEO Philip Schoonover on Feb. 17, said
©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960
Blockbuster. The chain has rejected the bid, stating it did not believe Blockbuster would be able to obtain financing. Combining the two companies would result in an $18 billion global retail enterprise. The two companies have been in discussion, with Circuit City urging its stockholders not to take action for the time being. 4/28/08
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DRUG STORES FOR SALE Baton Rouge, LA - $3,430,000 Annual Income - $230,000 Jennings, LA - $4,565,000 Annual Income - $296,760 No Mortgages on Properties 25-year NNN Leases
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Montville, CT Route 32 opposite Super Stop & Shop. New CVS to be built. $5,700,000 The Proto Group, LLC 203-234-6371
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* Urban Retail Investment * Wachovia, Coffee Bean & Jamba Juice; Dense In-Fill Loc Los Angeles, CA $23M * 80% Occupied; 8.0%Cap * Retail/Office; 10.32% Proforma Inland Empire, CA; $25.675 * Excellent Retail Location * 87% National Credit Tenants '06 DOC; 5.61% Assum Finan 37% Down; 6.68% C/C Return $11.51M * Multi-Tenant Retail Center * Below Market Rents; 100% Occ Los Angeles, CA; $3.905M 949.585.7681 www.hanleyinvestment.com Visit
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