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New Construction
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New ConstructionKravco Company is redeveloping Burlington Town Center located on the Church Street pedestrian promenade in Burlington, VT. The 423,000 sq.ft. center is owned by The Donohoe Company and renovations are being financed by Lubert-Adler. The center is anchored by a 150,000 sq.ft. Filene’s Department Store and Old Navy. The smaller store space in the center had an occupancy factor of under 50% at the end of last year, but renovations have attracted retailers such as Williams-Sonoma, J.Crew, Abercrombie & Fitch, Gap, Gap Kids, Starbucks and American Eagle Outfitters. The majority of these new stores will open in late spring 2001. Kravco will manage the center after the renovations. For more information contact Wayne L. Snyder, Kravco Company, 234 Mall Boulevard, P.O. Box 1528, King of Prussia, PA 19406; 610-768-6300; Fax 610-768-6444.
Bosshardt Realty is marketing Magnolia Parke a specialty center located at 39th Avenue and 51st Street Northwest in Gainesville, FL. Blockbuster, Starbucks Coffee, a credit union and several restaurants are open in the center. Spaces of 1,400 sq.ft. to 20,000 sq.ft. are available in the center which is scheduled to open this summer. Local retailers include Publix and Kash N’ Karry and the center is located in a mixed-use development. Area demographics include a population count of 106,000 residing in a five-mile radius earning an average annual household income of $47,000. The average daily traffic count is 35,000 cars. For more information contact Michael S. Ryals, Bosshardt Realty, 5542 Northwest 43rd Street, Gainesville, FL 32653; 352-371-6100; Fax 352-375-4227.
Transwestern Company is developing the 125,000 sq.ft. Expo Square in Bethesda, MD. The specialty center will be anchored by Expo Design Center and is located at the intersection of Westlake and Motor City Drives. Spaces of 1,000 sq.ft. to 4,000 sq.ft. are available. Area demographics include a population count of 100,000 residing in a three-mile radius earning an average annual household income of $133,000. The site is across from Montgomery Mall. For more information contact Chris Phillips or Kathy Reitz, Transwestern Company, 6700 Rockledge Drive, Suite 400-A, Bethesda, MD 20817; 301-896-9000; Fax 301-571-0903.
Hines Company is developing the $300 million mixed-use Carnegie Town Center on 11 acres west of SouthPark Mall in Charlotte, NC. Along with retail space and restaurants the development will include offices, apartments and a hotel. For more information contact Gerald D. Hines, 2800 Post Oak Boulevard, Floor 49, Houston, TX 77056; 713-621-8000; Fax 713-966-2053.
Divaris Real Estate and Armada/Hoffler Holding Company are developing 50,000 sq.ft. of retail space at Town Center in Virginia Beach, VA. The $92 million phase one will include a hotel, office space and the retail area located at the intersection of Virginia Beach Boulevard and Constitution Drive. No leases have been announced but developers say that the project is 60% leased. Some of the retailers mentioned for the center have been P.F. Chang’s China Bistro, The Gap, Banana Republic, Brookstone, Brooks Brothers and Barnes & Noble. The center is scheduled to open spring 2002. For more information contact Gerald Divaris, Divaris Real Estate, One Columbus Center, Suite 700, Virginia Beach, VA 23462-6760; 757-497-2113; Fax 757-497-1338.
Trammell Crow is developing a $100 million addition to the SouthPark Mall in Charlotte, NC. The construction will add a Saks Fifth Avenue and Nordstrom’s as well as space for up to 40 specialty shops. Work is proceeding on the extension with neighbor’s legal challenges pending. For more information contact Diane Ballard, Trammell Crow, 4400 Sharon Road, Charlotte, NC 28211; 704-364-4411; Fax 704-364-4913.
Metro National is planning a $110 million renovation of Memorial City Mall in Houston, TX. The company has installed a 2,156 sq.ft. design laboratory called mCity Central so that the center’s shoppers can see the renovations be put to paper. For more information contact Marion Burch, Memorial City Mall, 303 Memorial City, Houston, TX 77024; 713-464-8640; Fax 713-464-7845.
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