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New Construction
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New Construction Kimco Realty Co. is planning to demolish a sizable portion of the Maple Hill Mall this Spring as part of a $6 million to $8 million project designed to revitalize the Oshtemo Township, MI center. The 30-year-old mall is to be converted into an open-air power center, similar to the Southland Mall in Portage, NY. Maple Hill Mall is currently 350,000 sq.ft., but would be reduced to about 250,000 sq.ft. The remaining 100,000 sq.ft. would become parking space toward the back of the mall. The area slated for demolition includes a section of the mall that stretches from the border of OfficeMax to Marshall’s department store. Eight to 12 stores will then be constructed, including bookstores, pet stores, home furnishing stores and shoe stores.
For more information, contact Kimco Realty
Co., 3333 New Hyde Park Road, New Hyde Park, NY 11042; 516-869-9000/7197,
Fax 516-869-7133; Web site:
www.kimcorealty.com. MetroFlag Polo, a partnership between Brett Torino of Torino Cos. and Flag Luxury Properties is developing the $140 million, 80,000 sq.ft. Hawaiian Marketplace, a new retail project on the strip in front of the Polo Towers in Las Vegas, NV. The center is more than 85% leased and is scheduled to open early this year. Designed after the famed International Marketplace on Waikiki Beach, the Las Vegas version combines unique architectural elements that will create an aura of the South Seas. Of the 72,000 sq.ft. of retail and dining space, less than 1,400 sq.ft. remain available for lease. Restaurants include Ghandi, Hamada of Japan, Wahoo’s Fish Tacos, KFC, Pizza Hut, Steak Escape, Ray’s Pretzels and Donuts, Port of Subs, TCBY, Breyer’s Ice Cream, Mrs. Field’s Cookies, Mr. Hot Dog and China Chef. Other retailers that have signed leases include Yokohama Okadaya, Massage Zone, The Stogie Shop, Wild Flower, Zebra Shoes, Creative Edge, Suncatchers, ER Urgent Care, Glamour Women’s Accessories and the Oxygen Bar.
For more information, contact Torino Cos.,
6430 Schirlls Street, Las Vegas, NV 89118; 702-258-4474. JP Realty and developer David Paynter are proposing to develop a site on Mooney Boulevard across from the Visalia Mall in Visalia, CA. The companies are planning to develop more retail and restaurants in the Park Place Promenade. The largest tenant is Kohl’s, followed by Ross Department Store and the Dress Barn. The three stores will occupy spaces on the eastern end of the center.
For more information, contact JP Realty, 35
Century Park Way, Salt Lake City, UT 84115; 801-486-3911, Fax 801-486-7653;
Web site: www.jprealty.com. Crosland is preleasing Hunter’s Crossing, a 68,400 sq.ft. center being developed at the intersection of U.S. 31 and U.S. 521 in south Charlotte, NC. The $26 million project includes both the neighborhood center and an adjacent office park, which provides 80,000 sq.ft. of medical and professional offices. The center will be anchored by a 52,000 sq.ft. Lowe’s Foods supermarket and will be tenanted by a 3,111 sq.ft. Wendy’s restaurant. Lowe’s and Wendy’s are slated to open during the Spring, along with the following tenants: Firehouse Subs, Bella Spa, Carriage Cleaners, Coffee Amour, Great Clips and Dragonfly, a Chinese restaurant. One other outparcel totaling 12,000 sq.ft. of space remains available in the development. For more information, contact Crosland, 125 Scaleybark Road, Charlotte, NC 28209; 704-529-1166, Fax704-523-7110; Email: info@crosland.com; Web site: www.crosland.com.
Royal Properties, Inc. is preleasing ShopRite Shopping Center located at the intersection of Commerce Road and Route 1 in Stamford, CT. Opening is slated for January 2005. The center will be anchored by a 75,000 sq.ft. ShopRite and has spaces available of 1,500 sq.ft. to 15,000 sq.ft. Asking rent is $40 psf with CAM and taxes of $5 psf. Area retail includes Ethan Allen. Area demographics include a population of 163,558 within five miles earning $120,080 as the average household income. For more information, contact David Landes or Jeff Kintzer, Royal Properties, Inc., 850 Bronx River Road, Bronxville, NY 10708; 914-237-3403, Fax 914-237-0196; Web site: www.royalpropertiesinc.com.
COR Development Co., LLC is developing Towne Center at Webster located at the intersection of Route 104 and Holt Road in Webster, NY. The center has spaces available and will be anchored by a proposed Target, Kohl’s, Wegmans Supermarket, Dick’s Sporting Goods and Barnes & Noble. Area demographics include a population of 153,234 within 10 miles earning $58,715 as the average household income. For more information, contact COR Development Co., LLC, 540 Towne Center Drive, Fayetteville, NY 13066; 315-663-2100, Fax 315-663-2109.
Terrapin Main Street, LLC is developing Terrapin Station, a 13,000 sq.ft. center located at the intersection of Baltimore Boulevard and Hartwick Road in College Park, MD. The center is slated for a Summer opening. Rental rates range from $45 psf NNN. The center is located across from the University of Maryland campus, which houses 47,000 students. For more information, contact Kathy Coakley, The Greenberg Co., 4901 Fairmont Avenue, Suite 200, Bethesda, MD 20814; 301-657-2525 Ext. 17, Fax 301-657-2555; Email: coakleyaa@aol.com.
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