Shopping Centers Today -> April 2004
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IN BRIEF
MERCADO ALLIANCE
The Mercado Alliance is building San Diego (Calif.) Mercado, a 110,000-square-foot
mixed-use center in the city’s Barrio Logan area. Grocery chain
El Tigre will anchor the $30 million center. The alliance is a venture
between developer LandGrant Development and the Metropolitan Area
Advisory Committee, a locally based service agency. The developers
will break ground in the fall and expect to complete work next spring.
SUDBERRY
Sudberry Properties has opened the 410,000-square-foot EastLake
Village Marketplace, a $50 million power center in Chula Vista,
Calif., about 10 miles north of San Diego. Lowe’s and Target
anchor EastLake Village.
POAG & MCEWEN, MCWHINNEY
Poag & McEwen Lifestyle Centers and McWhinney Enterprises have
broken ground on the 700,000-square-foot Shops at Centerra, a lifestyle
center in Loveland, near Fort Collins, Colo. The property is part
of a 3,000-acre master-planned community called Centerra, which
is to include offices, hotels, housing units and a hospital. The
developers have set the opening for August 2005.
KITE
Kite Development is building the 360,000-square-foot Traders Point,
an open-air center in Indianapolis. Bed Bath & Beyond, Galyan’s
and a Marsh supermarket are among the anchors. Locally based Kite
expects to complete the project this fall. Last month Kite completed
the 200,000-square-foot, open-air Boulevard Crossing (with Kohl’s
as an anchor) in Kokomo, Ind., about 60 miles north of Indianapolis.
STANBERY
Stanbery Development will open the 109,824-square-foot Shoppes at
Susquehanna Marketplace this fall in Harrisburg, Pa., about 110
miles west of Philadelphia. Aerosoles, Coldwater Creek and Talbots
are among the tenants. In addition, Stanbery plans to open three
lifestyle centers next year, in Brookfield, Conn.; Hanover Township,
Pa.; and Old Bridge, N.J.
DDR, COVENTRY REAL ESTATE
Developers Diversified Realty and Coventry Real Estate Advisors
are planning a “large-scale redevelopment” of the enclosed,
290,000-square-foot Totem Lake Mall, in the Seattle suburb of Kirkland,
Wash. DDR and Coventry bought Totem Lake Mall in January from CalPERS
for an undisclosed amount. In other projects, DDR has “demalled”
CityPlace, an open-air center in Long Beach, Calif., and plans to
do the same to the enclosed Ward Parkway Center, Kansas City, Mo.
AMTERRE, DONALDSON
Developer Amterre Property Group is building the mixed-use Village
at Fox Run, in Greeley, Colo., about 65 miles north of Denver. The
project includes 300,000 square feet of office and retail space.
The first phase, with 150,000 square feet of retail, is set to open
in the fall of 2005. The developer expects to complete the project
by 2006. The center is part of the Fox Run master-planned community
being built by Donaldson & Co.
HUNT, ORIX
Hunt Properties and Orix Real Estate Equities have opened the 470,000-square-foot
Denton (Texas) Crossing Center, about 40 miles northwest of Dallas.
Bed Bath & Beyond, Best Buy and Kroger are among the anchors.
ELLIOTT, FIELD PAOLI
Residential developer Elliott Homes is building the mixed-use Broadstone
Town Center, in Folsom, Calif., about 25 miles east of Sacramento.
San Francisco-based Field Paoli is designing the center’s 750,000
square feet of upscale retail space. The site will also include
residential units, and Kaiser Permanente is building a 250-bed hospital.
The developer expects to break ground in 2006 with a 2008 completion date.
RMC
A new Publix store opened at Haines City (Fla.) Mall, about 40 miles
southeast of Orlando, as part of the open-air center’s renovation.
Tampa, Fla.-based RMC Property Group did the work. Baton rouge,
La.-based Commercial Properties Development Corp. owns the property.
CALLISON
Callison Architecture is designing a $9.3 million renovation of
Somera Investment Partners’ West Oaks Mall, Houston. Seattle-based
Callison will use leather, limestone, oak, wrought iron and other
materials in the 780,000-square-foot center and its food court.
The firm expects to complete the work in the fall.
ACADIA
Acadia Realty Trust is renovating its Town Line Plaza, Rocky Hill,
Conn., 10 miles south of Hartford, where a Super Stop & Shop
will replace a dark GU Markets store early next year. In addition,
a Home Depot replaced an Ames late last year in Acadia’s Plaza
422, Lebanon, Pa., about 35 miles east of Harrisburg.
RAM
Ram Development is building Orlando (Fla.) Square, a $31 million,
190,000-square-foot power center. Cost Plus and Petco are among
the anchors. Palm Beach Gardens, Fla.-based Ram plans to open the
project in the fall.
CROSLAND, CORE
Developers Crosland and Core Properties are breaking ground this
month on The Shops at Greenridge, a $64 million, regional open-air
center in Greenville, S.C. Best Buy will anchor, and the companies
are finalizing negotiations to bring in a Lowe’s. The development
will also include a Total Wine & More store. The developers
expect to complete the project next summer.
CARUSO AFFILIATED
Caruso Affiliated plans to undertake an $11 million renovation of
the 130,000-square-foot Marina Waterside, a grocery-anchored center
in Marina Del Rey, Calif., west of Los Angeles. Caruso will renovate
the center’s exterior and landscaping and expects to complete
the job by year-end. Caruso bought the center in January from Carlyle
Realty Holdings.
KANE DEVELOPMENT
Two
restaurants and a $3 million Gold’s Gym with a European-style
spa have signed on to North Hills, a 630,000-square-foot project
in Raleigh, N.C. Kane Development Co. is reworking the former mall
as a mixed-use center. Kane expects to finish work in the fall.
