Shopping Centers Today -> May 2004
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IN BRIEF

Simon Property Group

Simon Property Group broke ground on the first phase of Firewheel Town Center, an open-air center with 750,000 square feet of retail and 75,000 square feet of offices in North Garland, Texas, about 17 miles northeast of Dallas. Dillard’s and Foley’s will anchor the center. South of that development, in Austin, Simon is building the open-air, mixed-use Domain in partnership with Endeavor Real Estate Group. Neiman Marcus (and possibly a second, still unidentified, department store) will anchor the development. There will be up to 820,000 square feet of retail, a minimum of 350 multifamily residential units and an undetermined amount of office space. A commuter rail station is also tentatively in the works for the Domain. The developers hope to break ground on the center next year and complete it by the fourth quarter of 2006. Simon is also renovating Burlington (Mass.) Mall, in the Boston suburbs. The center will get new seating areas outside the department stores and new flooring, as well as redesigned lighting. Simon expects to complete that project in the fall.

JER Partners

JER Partners plans to expand the 370,000-square-foot Shops at Las Americas outlet center in San Ysidro, Calif., into a 1.4 million-square-foot mixed-use center. The $300 million project, located about 71 miles northeast of San Diego on the Mexican border, will include the addition of a 25,000-square-foot library and cultural center. A Coach factory store, a Fossil and a Neiman Marcus Last Call are among the tenants that have signed on to that portion of the project. A third phase will include 200,000 square feet of retail, a transit center, a hotel and a 60,000-square-foot outdoor entertainment center. JER, based in San Diego, says it does not have a timetable for the entire project’s completion.

GGP, The Pinnacle Group

General Growth Properties and The Pinnacle Group are building Pinnacle Hills Promenade, a 750,000-square-foot lifestyle center in Rogers, Ark. The site is eight miles east of Bentonville, Wal-Mart Stores’ headquarters. A two-level, 155,000-square-foot Dillard’s will anchor the $100 million center. The companies expect to finish the project in the fall of 2006.

Pace Properties

Pace Properties is building The Boulevard-Saint Louis, a mixed-use lifestyle center in St. Louis. The center will contain 225,000 square feet of retail, 500,000 square feet of offices and 300 apartments. It will also feature public plazas with fountains and sculptures. Retailers will start opening there by the end of the year.

Edens & Avant

Edens & Avant is expanding the 440,000-square-foot South Bay Shopping Center, Boston, to 540,000 square feet. A Target opened there in March, replacing a vacant Kmart. The $30 million redevelopment, will include a new, 75,000-square-foot Stop & Shop. The project is scheduled for completion by the end of next year.
 


Eastern Shore Centre I

Eastern Shore Centre I, a group of private developers from Alabama and Texas, broke ground on The Eastern Shore Centre, a 560,000-square-foot lifestyle center in Spanish Fort, Ala., about 10 miles east of Mobile. The opening is set for October. The anchors are Barnes & Noble, Bed Bath & Beyond and Dillard’s. Other tenants will include Jos. A. Bank Clothiers, Pottery Barn and Talbots.

Cousins, Jim Wilson & Associates

Cousins Properties and Jim Wilson & Associates plan to open the $100 million Avenue at Carriage Crossings in Collierville, Tenn., about 30 miles east of Memphis, in the fall of 2005. The hybrid fashion and discount retail center will be Cousins’ sixth open-air Avenue project. (Its others are in Atlanta and California, and it is also building one in Florida.) Dillard’s and Parisian will anchor. The developers did not have a ground-breaking date at press time. Meanwhile, Cousins is building the 195,000-square-foot, Target-anchored Hanover Square South, a power center in Richmond, Va. The developer plans to open that project in March.

Forest City Enterprises

Forest City began construction on the 459,000-square-foot Quartermaster Plaza, in Philadelphia. Located on the site of a former military-supply depot, Quartermaster Plaza is scheduled to open sometime during the third quarter, with Home Depot and BJ’s Wholesale Club as the anchor tenants.

Regency Centers

Regency Centers is building the 112,886-square-foot Victoria Gateway Center, in Rancho Cucamonga, Calif., a city in the Inland Empire. Circuit City, Men’s Wearhouse and REI are among the open-air center’s anchors. Regency says it expects to open Victoria Gateway by the end of the year.

Westcor Partners

Macerich Co. subsidiary Westcor Partners is converting the 830,000-square-foot Crossroads Mall, in Boulder, Colo., from an enclosed mall into an 800,000-square-foot open-air center. The company plans to raze the current center this summer, with the exception of a Foley’s department store and a vacant Sears store, pending government approval. Foley’s, a supermarket and a theater with stadium seating will anchor the center, which Westcor says it hopes to complete sometime in 2006.
   

Feldman Equities

Feldman Equities is adding a 16,000-square-foot retail extension to the 500,000-square-foot enclosed portion of Foothills Mall, Tucson, Ariz. (The center also has 45,000 square feet of pad development.) The Phoenix-based company expects to complete the $18 million project by the end of this month. The mall’s Loews Cineplex is undergoing a renovation that will give it new seating, entrances and lobby space by the end of the year.

 

Wilmorite Properties

Wilmorite Properties is increasing the size of its Tysons Corner Center mall from 2.1 million square feet to 2.3 million square feet. The company is adding a 16-screen AMC theater and 30 shops to the McLean, Va., center. Some of the new addition occupies a former J.C. Penney store. Wilmorite expects to complete the expansion in August 2005.
 

Donahue Schriber

Donahue Schriber opened Elk Grove Commons, a 242,000-square-foot, Kohl’s-anchored community center in Northern California. The firm will open two more in the region this fall. The ones to be built later are the 195,000-square-foot Highland Reserve Marketplace, in Roseville, and the 363,000-square-foot Park Place II, in Sacramento, both of which Donahue Schriber is building with developer Tom Winn. Meanwhile, Donahue Schriber is building the 87,654-square-foot Shoppes at Highlands Village, a community center in Mesa, Ariz., that it hopes to open next spring.

RED Development, R.H. Johnson

The Home Depot signed on to anchor the 565,000-square-foot Shoppes at North Village, St. Joseph, Mo., about 55 miles north of Kansas City. RED Development and R.H. Johnson, Kansas City, expect to open the center, a combination of big-box and lifestyle tenants, next spring. A 10-screen Wallace theater will also anchor the center.
 

National Realty, Milstein

National Realty & Development Corp. and Milstein Bros. Capital Partners are building Stamford Place, a $300 million mixed-use center in downtown Stamford, Conn. The center will include 450,000 square feet of vertical retail space and 550 residential units. Sam’s Club and Wal-Mart will be among the tenants. The developers plan to finish the project in 2006. Purchase, N.Y.-based National Realty has also broken ground on the 258,000-square-foot Rockaway Center, in Rockaway Township, N.J., about 35 miles west of New York City. Wal-Mart and Bed Bath & Beyond will anchor the community center, which is to open in February 2005.

Greenberg Commercial

Bed Bath & Beyond and Marshalls signed leases to go into Westminster (Md.) Crossing, a 225,000-square-foot community center about 35 miles northwest of Baltimore. The center is being redeveloped for $15 million by Greenberg Commercial. The Baltimore-based developer expects to complete work in November.

Koman Properties

Koman Properties started a $15 million renovation of the 140,000-square-foot Nameoki Shopping Center, in Granite City, Ill., about eight miles north of St. Louis. The Clayton, Mo.-based company is relocating a Shop ’N Save from a 32,000-square-foot shell to a 69,000-square-foot space, replacing the parking lot and adding new landscaping. Koman plans to be done by the fall.

Phillips Edison & Co.

Phillips Edison & Co. bought five former Dee’s Restaurants around Salt Lake City. The locally based company will redevelop three of them into Walgreens drugstores.

Tristar Business, Walpert

Tristar Business Communities, Chesterfield, Mo., and Walpert Properties, St. Louis, jointly developed the 60,000-square-foot Lakeside Shoppes at WingHaven, a neighborhood center in O’Fallon, Mo. Kadean Construction, Fenton, built the center, which is located about 38 miles west of St. Louis.

 

Kushner Cos.

Kushner Cos. is building The Landings at Harborside, a $600 million mixed-use development in Perth Amboy, N.J., 30 miles southwest of New York City. Built on an eight-year plan, it will include up to 150,000 square feet of retail, 2,100 town homes and condos, and some outdoor public recreation areas. Florham Park, N.J.-based Kushner will also build parks and a marina on the site.

Arizona Partners

Arizona Partners bought a 150,000-square-foot former Wal-Mart space in Rocklin, Calif., in the Sacramento area. The firm is converting the site into a Home and Design Center. The $8 million project will feature home furnishings and furniture retailers. The developer expects to sign up national and regional stores ranging from 10,000 square feet to 60,000 square feet. The center is scheduled to open in the fall. Scottsdale-based Arizona Partners also redeveloped the 620,000-square-foot Country Club Plaza, Sacramento, at a cost of $25 million. The company added new in-line tenants to the enclosed mall as well as such big-box anchors as Bed Bath & Beyond and Sports Chalet.

Windmill Development

Windmill Development expects to break ground next month on Legacy Commons, an open-air mixed-use center in Frisco, Texas, about 27 miles north of Dallas. The center will have 108,000 square feet of upscale fashion retail and 40,000 square feet of office space. Windmill is planning a spring 2005 opening for the retail and office components. A hotel, to open sometime in 2007, is also in the works for the development.

Empire Commercial Real Estate

Empire Commercial Real Estate opened the 100,000-square-foot Lakeside Plaza, Ontario, Calif., in the state’s Inland Empire. Stater Bros., a local supermarket chain, anchors the center. Locally based Empire spent $15 million on the project.

Crosland

Crosland, a Charlotte, N.C., developer, has opened a Florida office in Orlando to explore future projects in that state.

Kimco Realty Corp.

Kimco Realty Corp. broke ground on the $80 million, Hazel Dell Towne Center mixed-use project in Vancouver, Wash., near the Oregon state border. The center includes 425,000 square feet of retail, 25,000 square feet of office and 96 residential units. A Target store is scheduled to open in July, and the developer plans to open the rest of the project by next year.

JBG Rosenfeld Retail

JBG Rosenfeld Retail plans to finish the first phase of the redevelopment of the grocery-anchored Free State Mall, in Bethesda, Md., a Washington, D.C., suburb this month. The center, part of which was enclosed, is being decreased from 322,291 square feet to 280,667 square feet and converted into an open-air development. A demolished Sears store is being replaced by a Total Crafts unit along with some other retail.

JV Developers

JV Developers, a venture between the locally based Codina Group and K-Holdings, broke ground on Metropica, a mixed-use center in Sunrise, Fla., about 30 miles north of Miami. The center will include 60,500 square feet of restaurant-anchored retail and 500,000 square feet of office space in four buildings. The developers expect to complete construction by the end of the year.
 

Mid-America Asset Management

Retail asset manager Mid-America Asset Management is demalling the 880,000-square-foot enclosed Brickyard Mall in northwest Chicago and turning it into a 573,000-square-foot urban community center. The first phase, completed in March, included specialty stores and a Jewel-Osco grocery-drugstore. Lowe’s, Target and other stores will anchor the second phase, which West Des Moines, Iowa-based Mid-America expects to complete in October. Goldman Sachs affiliate Whitehall Street Real Estate Funds owns the center.
 

Foothill Partners, Regency Centers

Foothill Partners and Regency Centers expect to start work next year on Murieta Gardens Shopping Center, a 101,000-square-foot grocery-anchored center in Rancho Murieta, Calif., about 25 miles east of Sacramento. The firms will sell some 40 acres of land around the center to a developer for office and residential space. They plan to finish Murietta Gardens in 2006.

J.H. Snyder Co.

The J.H. Snyder Co. broke ground on the mixed-use NoHo Commons in North Hollywood, Calif. When it is completed in mid-2005, the center will have 158,000 square feet of street retail, 200,000 square feet of offices and 700 residential units. J.H. Snyder is based in Los Angeles.

 

Continental Real Estate Cos.

Continental Real Estate Cos. expects to open The Streets at Tanasbourne in October. A Meier & Frank department store and REI, an outdoor recreation retailer, will anchor the 375,000-square-foot lifestyle center which is located in the Portland, Ore., suburb of Hillsboro. San Francisco-based Field Paoli designed the center.
 

Robertson Properties

Robertson Properties plans to start construction on a 362,000-square-foot community center in the Seattle suburb of Kent, Wash. Lowe’s will anchor the still-unnamed center, which Los Angeles-based Robertson expects to break ground on this fall. The center, to be completed next year, is on the grounds of a former drive-in movie theater.

The Lund Co., RED Development

The Lund Co. and RED Development remodeled the 172,000-square-foot Regency Court, an enclosed lifestyle center in Omaha, Neb., for $10 million. The companies added leather furniture to the center as well as new lighting fixtures and ceilings. New tenants include the state’s first Pottery Barn and Ann Taylor Loft. Lund is based in Omaha, and RED Development is based in Kansas City, Mo.

Laham Development

Regency Lakes, a 500,000-square-foot, Target-anchored open-air center is scheduled to open in October in Wichita, Kan. Laham Development is building the center in the northeastern part of the city. Wichita-based Laham has also built the 255,000-square-foot Bradley Fair lifestyle center and other projects in the city.

McShane Construction

McShane Construction, based in Rosemont, Ill., built the 60,000-square-foot Lincoln Park Center in the Lincoln Park neighborhood of Chicago. Borders Books & Music and LaSalle Bank anchor the two-story urban center. North/Halstead, and Structured Development own Lincoln Park Center, which is managed by Mid-America Real Estate.

 

W/S Development Associates

W/S Development Associates is adding 500,000 square feet to the 800,000-square-foot, open-air Marketplace at Augusta (Maine). W/S and the local private investors that co-own the center along with the Chestnut Hill, Mass.-based company plan to break ground on the expansion by the end of the year and complete work by the fall of 2005. New tenants have not been announced. The Home Depot, Staples and Wal-Mart are among the center’s current anchors.

Combined Properties

The Giant Food grocery store is relocating in Combined Properties’ 142,557-square-foot Charles County Plaza, Waldorf, Md., about 30 miles south of Washington, D.C. Giant is moving into a 68,337-square-foot former Kmart space. Linens ’n Things and a Pier 1 Imports will go into the former 43,520-square-foot Giant shell. Washington, D.C.-based Combined Properties expects to complete the work by the holiday season.

Tucker Development Corp.

Tucker Development Corp. opened the 65,000-square-foot Central Parkway, a mixed-use project in the Chicago suburb of Highland Park, Ill. An Equinox Fitness Center anchors Central Parkway, a center with 52,500 square feet of retail. The remainder is office space, which houses Tucker’s headquarters along with other companies.

CIM Group

CIM Group is building the mixed-use Plaza Lofts, a development with 21,000 square feet of ground-floor retail and 225 apartments in downtown Sacramento, Calif. Anaheim, Calif.-based CIM plans to complete the $46 million project in the fall of 2005. In Southern California, CIM is building the $100 million mixed-use Center Street Promenade, in downtown Anaheim. The project, which comprises six buildings, will include 500 housing units and 55,000 square feet of street-level retail and restaurants. CIM expects to complete work by the summer of 2005.

DeBartolo Property Group

The DeBartolo Property Group is building a 120,000-square-foot, yet-to-be-named community center in Newark, Ohio, about 40 miles east of Columbus. An unidentified grocery store and big-box tenants will anchor the center, which is to break ground this month. The developer did not release a completion date for the construction. Tampa, Fla.-based DeBartolo is also building a 64,840-square-foot grocery-anchored center in Jacksonville, Fla. Publix will anchor the center, which is to be completed in the fall.

Heritage Development Co.

Circuit City, Dick’s Sporting Goods and Wal-Mart are among the anchors at City View Center, a 650,000-square-foot power center being developed by Heritage Development Co. in the Cleveland suburb of Garfield Heights, Ohio. Moreland Hills, Ohio-based Heritage expects to complete the project, which is located on a former landfill, in the summer of 2005.

JSM Development

JSM Development is building Gregory Place, a mixed-use project in Urbana, Ill., about 140 miles south of Chicago. The center will have 21,800 square feet of first-floor retail and three levels of apartments. Champaign, Ill.-based JSM expects to wrap up the project in August.

Saul Centers

Saul Centers is building a still-unnamed, 41,000-square-foot mixed-use project in Gaithersburg, Md., about 25 miles north of Washington, D.C. Retail will comprise 25,000 square feet of the development; the rest will be offices. The center is next to the Lowe’s-anchored Kentlands, which Saul also owns. The Bethesda, Md.-based company expects to complete the mixed-use project in the fall.

Pine Tree Commercial Realty

Pine Tree Commercial Realty is building the 83,000-square-foot Raceway Plaza Shopping Center, a neighborhood center in Avon, Ind., about 17 miles west of Indianapolis. Lake Bluff, Ill.-based Pine Tree expects to break ground on Raceway in the fall and complete the center by next summer.

Marketplace Properties

Marketplace Properties, Tustin, Calif., will build Town Place Square, an $18 million mixed-use project in Rancho Cucamonga, Calif., in the state’s Inland Empire. The development is going up across the street from The Mills Corp.’s Ontario Mills value megamall. Work on Town Place is to start this summer and end sometime next spring. A 112-room Marriott hotel will anchor the 98,000-square-foot center, which will also include 8,400 square feet of retail.

National Realty & Development

National Realty & Development Corp. has broken ground on a Target store at its Hawley Lane Mall in Trumbull, Conn., about 18 miles southwest of New Haven. Kohl’s anchors the 462,477-square-foot center, and National Realty is in the process of leasing 56,000 square feet on the second floor of the mall. The Purchase, N.Y.-based development firm expects the Target unit to open next March. Separately, National Realty will open the Target-anchored, 275,000-square-foot North Haven (Conn.) Center in October.

Noddle Development

Noddle Development Co. plans to break ground next year on a two-level, 50,000-square-foot retail center in Englewood, N.J., about 15 miles north of New York City. Omaha, Neb.-based Noddle aims to open the project, currently called the South Dean Street Redevelopment Project, by the 2005 holiday season.

LandGrant Development

An Albertsons opened at the 125,000-square-foot Winchester Springs, Murrieta, Calif., about 65 miles north of San Diego. Owner LandGrant Development, based in San Diego, expects all 22 tenants in the $20 million open-air center to open by year-end.

CBL & Associates

CBL & Associates has broken ground on the 340,000-square-foot Charter Oak Marketplace, an open-air center in Hartford, Conn., scheduled to open in the fall. Wal-Mart will anchor the center.

Westrust

Westrust is building The Exchange, a 66,500-square-foot neighborhood center, as part of a master-planned community in Hawthorne, Calif., about 15 miles southwest of Los Angeles. Calabasas Hills, Calif.-based Westrust expects to complete the project early next year.

James Doran Co.

James Doran Co. is breaking ground this year on Northshore Town Center, a $180 million mixed-use town center development in Knoxville, Tenn. The project, to be completed in about five years, will have 500,000 square feet of retail-entertainment, 300,000 square feet of offices and 450 apartment units.

Shepherdsville Associates

Developer Shepherdsville Associates has opened the Kroger-anchored Shepherd’s Crossing Shopping Center in Shepherdsville, Ky., about 20 miles south of Louisville. Presnell Engineers of Louisville designed and built the 145,000-square-foot center.

The Woodlands Operating Co.

The Woodlands Operating Co. is building Terramont Shopping Center, a 250,000-square-foot, Wal-Mart-anchored center in The Woodlands, Texas, about 30 miles north of Houston. The project, scheduled to open next spring, is part of the Terramont master-planned community.

RED Development, Chenal

RED Development and Chenal Properties have teamed up to build The Promenade at Chenal, a 485,000-square-foot, Dillard’s-anchored lifestyle center in Little Rock, Ark. The partners expect to break ground on the $75 million project next spring. The opening is tentatively scheduled for sometime in 2006

RED Development, The Lerner Co.

RED Development and The Lerner Co. formed a joint venture to build Papillion (Neb.) Promenade, a regional center about 23 miles southwest of Omaha. The project, which will have up to 900,000 square feet of retail space, is to be built in a town center style. The developers plan to start work this summer and finish up in 2006.

Edens & Avant

Edens & Avant opened Arundel Village, a Safeway-anchored center in Hanover, Md., about 12 miles southwest of Baltimore. Other tenants include Cold Stone Creamery, Panera Bread and Quiznos Subs.

WDP Partners

WDP Partners is building the 800,000-square-foot Yuma (Ariz.) Palms Shopping Center, a regional center about 185 miles west of Phoenix. The anchors are Dillard’s and J.C. Penney. The first phase is scheduled for completion in November, and the second for sometime next year.

Opus West Corp.

Opus West Corp. is building The Shoppes at Chino Hills (Calif.), a 375,000-square-foot lifestyle center about 40 miles southeast of Los Angeles. The Irvine, Calif.-based developer plans to break ground in December 2005 and finish work in mid-2006. A two-level, 144,000-square-foot Robinsons-May will anchor the center.

O&S Holdings

A CompUSA computer store has signed on to anchor Foothill Crossing, a 315,000-square-foot power center in Rancho Cucamonga, Calif., about 40 miles east of Los Angeles. An 180,000-square-foot Sears Grand will also anchor the center.

The Macerich Co.

The Macerich Co. says a 73,000-square-foot, 2,800-seat AMC theater will open at its Valley View Center mall, Dallas, this summer. The theater, which as anchor joins Dillard’s, Foley’s, J.C. Penney and Sears, will expand Valley View to 1.6 million square feet. Meanwhile, Barnes & Noble opened a store at the 795,000-square-foot Southern Hills Mall, Sioux City, S.D. (owned jointly by Macerich and Simon Property Group). This summer a J.C. Penney will open in a vacant 100,000-square-foot Target store.
 

RMC, RAM Development

RMC Property Group and RAM Development are building Broadway Promenade, a mixed-use project in Sarasota, Fla., about 60 miles south of Tampa. The center will include a 28,800-square-foot Publix and 26,570 square feet of additional retail as well as 5,165 square feet of offices and 187 condominiums. The developers expect to start building this summer and to open next year.
 

The Irvine Co.

The Irvine Co. opened Quail Hill Village Center, a 150,000-square-foot, Albertsons-anchored center in Irvine, Calif., about 43 miles southeast of Los Angeles. Madison Marquette Retail Services is manager.

Finard & Co.

Finard & Co. is building a 24,000-square-foot, $3 million Flagship Cinemas theater at Shaw’s Plaza, a community center in Waterville, Maine, about 20 miles north of Augusta. Finard says it will open the theater late this summer.

World Premier Investments

World Premier Investments has added a Wal-Mart and a Kohl’s to the open-air Nordahl Marketplace (formerly Vallecitos Town Center), San Marcos, Calif., about 35 miles north of San Diego. They join anchor Costco. The additions expand the center to more than 500,000 square feet, from 315,000 square feet.

New England Development

Work is under way on The Shops at Long Pond, Plymouth, Mass., a five-lot retail subdivision scheduled to open this year. The project, by Newton, Mass.-based New England Development, will include a BJ’s Wholesale Club, Kohl’s and other retailers. “Plymouth is not only the oldest and largest town in Massachusetts, it’s a vital and growing destination with historic attractions and a strong housing market,” said Stephen R. Karp, CEO of New England Development, in a news release.

Saxon Partners

Middleboro, Mass.-based Saxon Partners is building Colony Place, an 865,000-square-foot open-air retail development on 140 acres in Plymouth, Mass. The $100 million development, whose five components will include a power center and a lifestyle center, will be one of the largest open-air retail projects in the state, the developers say. A Wal-Mart Supercenter and a Sam’s Club will anchor Colony Place.

Robert C. Muir Co.

Oakdale, Minn., about 10 miles east of St. Paul, approved the construction of a lifestyle center by Bloomington, Minn.-based Robert C. Muir Co. The center will serve as a gateway for the town of about 29,000, according to officials. Best Buy will operate a 45,000-square-foot store, but no other tenants have been announced.

Falls Management Co.

Galleria, a retail, dining and gambling complex, is scheduled to open next month in Niagara Falls, Ontario. The $1 billion, 2.5 million-square-foot resort is being developed by Toronto-based Falls Management Co. on behalf of the Ontario Lottery and Gaming Corp., a provincial government agency. Among the retail tenants are Dolce & Gabbana, Giorgio and Turtle Pond Toys.

The Weitz Co.

The Weitz Co. has begun construction on the Yuma (Ariz.) Palms Regional Center, a retail development made up of four shopping districts: a power center, a regional center, a restaurant row and a village. Work on the first phase of the 800,000-square-foot center is scheduled to end in November, with a second phase set to end in the fall of 2005. Dillard’s and J.C. Penney will anchor the center. The other retailers include Ross Dress for Less and Famous Footwear, and the project will also have a 14-screen Harkins theater.
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