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UNIVERSITY SQUARE WORK PROCEEDS

Work is continuing on University Square, a University Heights, Ohio, outdoor regional shopping center. A 165,000-square-foot, two-level Kaufmann’s department store opened in March, completing the first phase of the site’s redevelopment (retail developer Starwood Wasserman demolished an existing Kaufmann’s). The center features five levels of stores and 611,500 square feet of retail space built around an open parking area. A one-level, 58,000-square-foot Tops Supermarket and the state’s first two-level Target store will also anchor the project. The second phase is under way and scheduled for completion in spring 2003, with Alltel Communications, Applebee’s Neighborhood Grill & Bar, EB Gameworld and T.J. Maxx ’N More as anchors.

THF REALTY STARTS BUILDING WENTZVILLE CROSSROADS

THF Realty has begun work on the Wentzville (Mo.) Crossroads Marketplace, a 221,400-square-foot shopping center. The project will be anchored by a 148,000-square-foot Wal-Mart, and 12 more tenants will occupy about 30,000 square feet of additional retail space. The St. Louis-based developer also made room on the 35-acre site for five outparcel developments totaling 42,800 square feet of gross leasable area. The $5.3 million Wal-Mart introduces a new prototype store design. It features an enclosed, 10,500-square-foot garden center, 149 skylights, wide aisles and centralized cash registers for speedy checkout. The store will be fronted with terra-cotta, beige and light gray masonry and can be expanded to create a Wal-Mart Supercenter in the future.

NEW PLAN EXCEL REALTY EXPANDS JACKSON OUTLET VILLAGE

New Plan Excel Realty Trust, Orlando, Fla., announced plans in June to add 65,000 square feet of retail space to the Jackson (N.J.) Outlet Village. The expansion will add 10 to 12 new stores to the factory outlet center, and plans call for two freestanding restaurants next to it. Construction is slated to begin in March 2003, and the expansion is expected to be ready by spring 2004. Brooks Brothers, Gap, Mikasa, Nike and Reebok currently anchor the center.

BAYER PROPERTIES ADDS TO CENTERS

Bayer Properties continues to add tenants to its Summit Birmingham (Alabama) and Summit Louisville (Kentucky) shopping centers. In December the Birmingham, Ala.-based developer announced it had signed up five specialty shops at the 800,000-square-foot Summit Birmingham, which averages more than $500 per square foot in annual sales. The new tenants are Alabama’s first BCBG, a 4,300-square-foot women’s apparel retailer; outdoor clothing and gear seller Country Outfitters, with 3,285 square feet; a 3,100-square-foot Tommy Bahama resort wear and home accessories store; and a 1,769-square-foot Lilly Pulitzer signature women’s and children’s clothing store called Two Girls. A 1,941-square-foot Jobe Noodles had not yet opened at press time. At the Summit Louisville (367,500 square feet) meanwhile, Bayer announced the recent openings of a 1,292-square-foot Marble Slab Creamery ice cream parlor and a 22,408-square-foot Organized Living home and office furnishings retailer. A 2,200-square-foot White House/Black Market women’s clothing store is to open this spring.

WORK WRAPS UP ON MALL AT MILLENIA

Work on a Bloomingdale’s store is capping off construction of the 1.2 million-square-foot Mall at Millenia, Orlando, Fla. The three-floor, 235,000-square-foot store will join anchors Neiman Marcus and Macy’s at the high-end center. Construction will be completed this fall, according to New York City-based IBEX Construction, the project’s construction manager. Among Bloomingdale’s features are a full-service demonstration kitchen in the housewares department, and design and decoration offerings including floor coverings, bedding, furniture and textiles. The store’s interior flooring will include wood strips, marble tiles and carpeting. Ceilings will be a combination of acoustical tile and painted Sheetrock with curves and coves. DLS Architect, New York City, designed the store.

COMMERCIAL PROPERTIES, MORIN, PHILLIPS, FORM JOINT VENTURE

Three development groups have forged a joint venture agreement to build Plantation Point, a 600,000-square-foot power center in Raleigh, N.C. Commercial Properties Development, Baton Rouge, La.; Morin Development Group, Tampa, Fla.; and Phillips Development & Realty, Raleigh, are behind the $58 million project, which is located at the U.S. Highway 1 and Interstate 540 Beltline interchange. Across from the site, the Richard E. Jacobs Group, Cleveland, in August opened Triangle Town Center, a 1.3 million-square-foot regional mall.

RMC PROPERTY TO BUILD SEVERAL GROCERY-ANCHORED FLORIDA PROJECTS

The newly formed RMC Property Group, Tampa, Fla., is proceeding with several retail development projects anchored by Publix supermarkets, all in Florida. The latest is a 54,000-square-foot Publix that is part of the retail in Winthrop Village, Brandon, a mixed-use project about 15 miles from downtown Tampa. Winthrop Village features 97,625 square feet of retail space, with additional areas for office, civic buildings, recreational areas and residential units. Other projects include the redevelopment of a Publix at Northgate Shopping Center, Winter Haven, 30 miles from Orlando; the 75,667-square-foot Publix Center of St. Cloud; and the 63,571-square-foot Miller West Plaza, Kendall Lakes. All of the projects are expected to be completed in summer 2003. RMC/Konover Property Trust and Fog Development merged to form the company, which specializes in leasing, management and build-to-suit projects.

CONTINENTAL REAL ESTATE TAKES OVER SHOPS AT TANASBOURNE

Federal Realty Investment Trust has turned development of the Shops at Tanasbourne, Hillsboro, Ore., over to Continental Real Estate, after abandoning its plans for the 400,000-square-foot retail and office complex. Construction is already under way, and Columbus, Ohio-based Continental Real Estate anticipates a spring 2004 opening. Under Continental’s development, the Shops at Tanasbourne will remain largely the same, with a specialty retail portion anchored by a 160,000-square-foot Meier & Frank department store. The new development team has scrapped an office section in favor of new restaurants.

 

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