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Shopping Centers Today -> February 2002
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CALIFORNIA CITY APPROVES DEVELOPMENT OF LONG-VACATED SITE
City officials of Hawthorne, Calif., have approved a 1.8 million-square-foot mixed-use project to redevelop a 104-acre, abandoned aerospace manufacturing site.Lowe Enterprises Commercial Group, Irvine, Calif., plans to redevelop the long-vacant Northrop Grumman campus and turn it into a mixed-use complex of retail, industrial and corporate office facilities.
A Lowe’s Home Improvement Warehouse store (no relation to the developer) will anchor the $195 million project, which will also feature a 260,000-square-foot neighborhood retail component. Development is scheduled to begin by the middle of this year, with completion set for next year.REGENCY STRIP CENTER REPLACES OLD RESIDENTIAL NEIGHBORHOOD
Regency Centers didn’t exactly move mountains to develop a strip center in Ballwin, Mo. — just an old neighborhood and some 500,000 cubic yards of landfill.The Jacksonville, Fla.-based developer is working on Olde Towne Plaza, a grocery-anchored shopping center in the heart of Ballwin. Anchors include Stein Mart and Ultimate Electronics, which opened at the Plaza in December. Moving in this spring will be anchors Home Goods; Lowe’s, a regional supermarket chain; and Marshall’s as well as Starbucks and other smaller tenants.
The 287,000-square-foot center, located at Manchester and Ries roads, a major downtown Ballwin intersection, occupies land where one of the city’s oldest neighborhoods once stood. Regency demolished about 50 residential and commercial buildings and relocated an old church to make way for the center, according to Daniel J. Fox, senior vice president of investments at Regency.
The developer is spending about $45 million to $50 million on the project, which also benefited from $13.6 million in tax-increment financing from the city.THF COMMUNITY CENTER TO BROADEN RETAIL MIX IN ST. LOUIS COUNTY
St. Louis-based THF Realty plans to build a 245,000-square-foot community center anchored by a Wal-Mart in north St. Louis County, Mo. Although substantial retail already exists in the area — Target, Kmart and Lowe’s Home Improvement operate one mile south of the planned site — the proposed center would bring such tenants as electronics and clothing retailers, as well as service-oriented businesses, said Alan Bornstein, a spokesman for THF Realty. Five outparcels of mainly sit-down restaurants would also go onto the site, he said. Pending approval from county officials, construction could begin by the fall, and the center is scheduled to open in early summer 2003, according to the company.HALLMARK AND STILES TO BUILD CENTER IN ST. JOHN’S COUNTY, FLA.
Hallmark Partners and Stiles Corp., Fort Lauderdale, Fla., are partnering to build a 71,352-square-foot community center in fast-growing St. Johns County, Fla.St. Johns Commons, as the development will be called, will be a neighborhood center anchored by Winn-Dixie, with 25,000 square feet of small-shop space and two outparcels, said Jeffrey Conn, a principal at Jacksonville, Fla.-based Hallmark. The residential community is about 20 minutes from downtown Jacksonville and within a mile of three golfing communities, said Conn. The developer, Hallmark-Stiles Ventures, hopes to break ground this spring and open in the first quarter of 2003.
The partners have completed several projects before, and are also at work on Deerwood Commons, a Publix Supermarket-anchored center in Jacksonville.SEATTLE COFFEE PURVEYOR AGREES TO DEVELOP CAFES IN HAWAII
Seattle’s Best Coffee has recently entered into an agreement with GMS Corp. to develop 14 cafes on the Hawaiian Islands.GMS Corp. has already opened four cafes in Hawaii, the most recent in the Pearlridge Mall in Honolulu on Oahu. It plans to open 10 other Seattle’s Best locations in kiosks and carts in malls, neighborhood shopping centers, hotels and resorts throughout the state.
Under the agreement, Honolulu-based GMS Corp., which already operates several Seattle’s Best Coffee franchises, also gets exclusive development rights for Seattle’s Best Coffee cafes in Hawaii.
Seattle’s Best Coffee is a subsidiary of Atlanta-based AFC Enterprises, a food and beverage franchisor that operates eateries under such names as Church’s Chicken, Cinnabon and Torrefazione Italia Coffee.
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