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New ConstructionTrammell Crow Company is redeveloping the Plankinton Arcade and the Grand Avenue Mall in Milwuakee, WI. The $12 million renovations to the Grand Avenue center are designed with national tenants in mind. The Plankinton Arcade is being redeveloped for department store tenants. Area demographics include a population of 216,000 residing in a three-mile radius. For more information contact Trammell Crow Company, 3400 Trammell Crow Center, 2001 Ross Avenue, Dallas, TX 75201; 214-863-3000.
Grubb & Ellis is marketing the 130,000 sq.ft. HomeCenter Ontario adjacent to Ontario Mills in Ontario, CA. The 11.5-acre site is located at the intersection of Interstate 10 and Milliken Avenue and will be anchored by Levitz Furniture. Other tenants will include Krause’s Sofa Factory, Thomasville Home Furnishings, Arizona Leather Company, Mattress Discounters and Denny’s Restaurant. Cornerstone Development Partners, Inc. is developing the $20 million project that is scheduled to open in September. For more information contact Ian Brown, Grubb & Ellis, 4695 Macarthur Court, Suite 600, Newport Beach, CA 92660; 949-608-2000; Fax 949-608-2003.
Roberts Realty Group is redeveloping the Globe Plaza in Nashua, NH. The company has an agreement with Shaw’s Supermarket to open a 64,500 sq.ft. store in the center. The site is located on Main Street and is also tenanted by Palmer’s Cleaners and Natural Nails. The Rent-A-Center, Sharky’s Lounge & Billiards and the Community Council of Nashua stores located at the center will close . For more information contact John Roberts, Roberts Realty Group, 8 Spring Grove Road, Andover, MA 01810; 978-623-0921; E-mail: jrr02@mediaone.net.
LCOR Public/Private Inc. is developing the 275,000 sq.ft. Pico Plaza in the Mid-City section of Los Angeles, CA. The proposed multilevel building would be anchored by Home Depot and Costco. The $80 million project located at the intersection of Pico and Venice Boulevards would also include a McDonald’s, a storage facility, a full-service restaurant and a bus transfer station. The plan has been met by some resistance from community groups who object to the storage facility and are concerned about traffic. For more information contact Howard Samuels, LCOR Public/Private Inc., 1888 Century Park East, Suite 1106, Los Angeles, CA 90067; 310-407-0896; Fax 310-407-0955.
The Philadelphia Industrial Development Corporation has selected four final teams competing for the right to develop a power center on 44 acres of the former Army Quartermaster Depot in South Philadelphia, PA. The proposals for the Oregon Avenue site will be judged on the price the developer is willing to pay for the land, the ability to attract quality tenants and for a neighborhood-friendly design. The teams are: Pennsylvania Real Estate Investment Trust with Universal Companies and Temple Group, Inc.; Diversified Realty Corporation and McKissack and McKissack; Forest City Ratner and Moreland Development LLC with Synterra Partners; and Metro Development Corporation. For more information contact John S. Grady, Jr., Philadelphia Industrial Development Corporation, 2600 Center Square West, 1500 Market Street, Philadelphia, PA 19102; 215-496-8164; Fax 215-977-9618.
Granite Development is building a center that will be anchored by Super Target and Home Depot at Crenshaw Manor in Wake Forest, NC. The center will be located off of NC Route 98. For more information contact Tim Dockery, Granite Development, P.O. Box 1928, Mount Airy, NC 27030-6928; 336-786-1356; Fax 336-786-8398.
RAND Real Estate Services Inc. is developing the 200,000 sq.ft. Greyrock Place in Stamford, CT. The nine-story project will include 80,000 sq.ft. of retail space on the first two levels. Construction will begin this fall with completion scheduled for fall 2002. The site is located at the intersection of Broad and Greyrock Streets and local retailers include the Stamford Town Center. Area demographics include a population count of 110,000 residing in a three-mile radius earning an average annual household income of $90,300. The average daily traffic count is 27,500 cars. The asking rent begins at $40 psf NNN. The company is also developing the 11,500 sq.ft. Westport Village in Westport, CT. The mixed-use center located at the intersection of Route 1 and North Bulkley Road has 5,200 sq.ft. of retail space and opened this month. The center is across from a Stop ‘N’ Shop, Toys ‘R’ Us and Walgreens. Spaces of 1,550 sq.ft. and 1,150 sq.ft. are available. Area demographics include a population count of 33,000 residing in a three-mile radius earning an average annual household income of $119,700. For more information contact Penny Wickey, RAND Real Estate Services, Inc., 175 Post Road West, Westport, CT 06880; 203-341-7893; Fax 203-221-7677; E-mail: pennywickey@hotmail.com.
The R.H. Johnson Company is developing two centers in KS. The first is a 90,000 sq.ft. phase II addition to the Barry North Center in North Kansas City, KS. Phase One is anchored by a Wal*Mart Supercenter and Lowe’s Home Improvement. Phase II located at the intersection of Interstate 29 and Barry Road will also include outlot opportunities. The other is the 625,000 sq.ft. Kellogg Place that will be anchored by a Wal*Mart Supercenter and a Lowe’s Home Improvement center in Wichita, KS. Construction on the center will begin late this spring. For more information contact Ed Broxterman and Owen Buckley, The R.H. Johnson Company, 801 West 47th Street, Suite 219, Kansas City, MO 64112; 816-561-5111; Fax 816-561-5551; Web site: www.rhjohnson.com.
Arvida Corporate Park Associates and University Parkway Investments, Inc. are developing a 223,000 sq.ft. center located at the intersection of University Parkway and Honroe Avenue in Manatee, FL. The site has proximity to Interstate 75. For more information contact Pat Neal, University Parkway Investments, Inc., 3711 Cortez Road West, Suite 300, Bradenton, FL 34210; 941-756-0677; Fax 941-756-3066.
MBD New Horizons LLC will break ground on a 124,000 sq.ft. center in Crotona East Park in the South Bronx, NY. The center is located at the intersection on 174th Street between Vyse and Longfellow Avenues. A 48,500 sq.ft. Pathmark grocery store will anchor the project. The development costs are expected to reach $30.7 million. For more information contact Joe French, The Hutensky Group, 50 Main Street, Suite 1000, White Plains, NY 10606-1900; 860-527-2222; Fax 914-428-7506.
Stafford Smith Commercial Realty is marketing the 180,000 sq.ft. Eatontown Shopping Center in Eatontown, NJ. The center will be tenanted by Petco and is located at the intersection of NJ Highways 35 and 36 near the Monmouth Mall. Inline spaces of 110,000 sq.ft. are available as well as a 40,000 sq.ft. outlot. Area demographics include a population of 150,000 residing in a three-mile radius earning an average annual household income of $85,000. Asking rents begin at $24 NNN with $1.50 CAM and $2 in taxes. For more information contact Ray S. Smith, Stafford Smith Commercial Realty, 630 Broad Street, Shrewsbury, NJ 07702; 732-747-1000; Fax 732-747-8885; E-mail: ray@ssrealty.com.
Colliers International is developing the 90,000 sq.ft. Aurora Shopping Center in Aurora, OH. The strip center will be anchored by Tops Supermarket and is located at the intersection of Route 82 and Bissell Road. Spaces totalling 40,000 sq.ft. and numerous outparcels are available. Opening is scheduled for spring 2002. The site is located near Six Flags Amusement Park and Aurora Premium Outlet Stores. The company is also developing the 68,000 sq.ft. Madison Shopping Center in Madison, OH. The center will be anchored by Tops Supermarket and is located at the intersection of Routes 20 and 528. The center is scheduled to open in October. For more information contact Tori Rodano, Colliers International, 23825 Commerce Park, Suite B, Cleveland, OH 44122; 216-514-5100; Fax 216-514-5106.
Heritage Property Investment is building an 7,600 sq.ft addition to the Sheridan Village Shopping Center in Peoria, IL. Tenants will include BoRics and Fannie May Candy Shop with 5,000 sq.ft. available. For more information contact Heritage Property Investment, 4125 North Sheridan Road, Peoria, IL 61614-7199; 309-688-2406.
Ryan Companies is developing a 500,000 sq.ft. shopping center in Oswego, IL. The center will be anchored by Target, Home Depot and a Dominick’s Fresh Store and is located at the intersection of Route 34 and Douglas Road. The $42 million project has retail and restaurant spaces for eight other tenants and is scheduled to open in early 2002. For more information contact Ryan Companies US, 700 International Centre, 900 Second Avenue South, Minneapolis, MN 55402-3387; 612-337-3382; Fax 612-337-5552.
Koman Properties is developing an expansion to Lincoln Place Shopping Center in Fairview Heights, IL. The project was to include a Costco Wholesale Club but the company has said it will not open at the center. Koman has received letters of intent from Old Navy, Office Depot, Marshall’s, Petco, The Gap, Ultimate Electronics and Home Goods. The center is currently anchored by Lowe’s Home Improvement Warehouse and is also tenanted by Valvoline Instant Oil Change, Mattress Giant, Longhorn Steakhouse and Bally’s Total Fitness Health Club. For more information contact Jim Koman, Koman Properties, One Cityplace Drive, Suite 540, St. Louis, MO 63141-7014; 314-993-5800.
Sugarland Properties Incorporated is developing the Sugar Land Town Square a 32-acre mixed-use project in the 9,700-acre First Colony development. The project will include 200,000 sq.ft. of retail space and will be located at the intersection of U.S. Route 59 and Highway 6, across from First Colony Mall. The project will also include a Marriott hotel, office space and 300 residential units. Area demographics include a population of 460,000 residing in an eight-mile radius, including 60,000 households with average annual household incomes over $75,000. For more information contact Steve Ewbank, Sugarland Properties, 4665 Sweetwater Boulevard, Suite 100, Sugar Land, TX 77479-3000; 281-242-2000; Fax 281-242-2718.
Bob Hughes Associates is developing a 66,600 sq.ft. center in Southeast Raleigh, NC. The site is located at the intersection of Raleigh and Martin Luther King Jr. Boulevards, within walking distance of Pine Hills Apartments. The center will be anchored by Kroger. For more information contact Craig Ralph, Bob Hughes Associates, 5 West Hargett Street, Suite 409, Raleigh, NC 27601; 919-828-6171; Fax 919-847-0703.
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