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New Construction
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New Construction Westrust is planning to develop a 66,500 sq.ft. center located at the intersection of Interstate 105 Freeway and Crenshaw Boulevard in Hawthorne, CA. The center will be anchored by a 37,000 sq.ft. Magic Johnson 24-Hour Fitness Health Club. Area retail includes the 1.8 million sq.ft. master-planned project called The Exchange, which is scheduled to open during the first quarter of 2005.
For more information, contact Charles Smith,
Westrust, 26901 Agoura Road, Suite 250, Calabasas Hills, CA 91301-5103;
818-878-9300 Ext. 203. Raybec Investment Co., Ltd. is planning to develop over 160 acres in the lower Rio Grande Valley in TX. Included in this is a 22-acre retail parcel located on Highway 77/83, along with a three-acre site on the Gulf of Mexico across from South Padre Island that will include a 70-unit high-rise condominium with 75 boat slips. The larger tracts of land will be developed as a joint venture with residential developers.
For more information, contact Marvin Feiger,
Raybec Investment, 7855 Gross Point Road, Suite F, Skokie, IL 60077;
847-677-1000, Fax 847-677-1055; Email:
raybecinvestment@aol.com. Edens & Avant is planning a $30 million expansion and improvement plan for the 440,000 sq.ft. South Bay Shopping Center located at the northern juncture of the south end of Boston, MA. The company is planning to demolish old warehouse buildings formerly occupied by the AGAR Supply Co. Edens & Avant acquired an eight-acre industrial parcel located along Massachusetts Avenue, adjacent to the 46-acre South Bay Center, and plans to demolish the existing 135,120 sq.ft. building to make room for major expansion and development. Upon completion, the center will comprise approximately 540,000 sq.ft. of GLA and will include a new 75,000 sq.ft. Stop & Shop supermarket along with a variety of other new retailers. A Target store is slated to open next month in space formerly occupied by Kmart. For more information, contact Edens & Avant, 900 Bank of America Plaza, 1901 Main Street, Columbia, SC 29201; 803-779-4420, Fax 803-765-0684; Web site: www.edensandavant.com.
For more information, contact Stuart Oseroff, The
Santarelli Oseroff Group, 55 Hartz Way, Suite 215, Secaucus, NJ 07094;
201-223-5999 Ext. 502, Fax 201-223-5549. North American Properties is planning to develop Fountain Place, a 143,500 sq.ft. lifestyle center located at the intersection of Highway 212 and Prairie Center Drive in Eden Prairie, MN with an average daily traffic count of 100,200 vehicles. The center would be situated on a land area of 22 acres and would be located near the Eden Prairie Center. The Fountain Place development is tenanted by Borders Books, Michael’s, Ultimate Electronics and Bed Bath & Beyond. Area demographics include a population of 136,118 within five miles earning $116,591 as the average household income.
For more information, contact Steve Johnson,
North American Properties, 300 Prairie Center Drive, Suite 225, Eden Prairie, MN
55344; 952-829-7448; Email: steve.johnson@naproperties.com;
Web site: www.naproperties.com. Crosland, Inc. is planning to develop a 778-acre community along the Catawba River on Highway 27 in Mecklenburg County, NC. The company is planning residential as well as commercial development, which will be phased in over the course of a decade.
For more information, contact Bill Daleure,
Crosland, Inc., 125 Scaleybark Road, Charlotte, NC 28209; 704-561-5318/5200,
Fax 704-523-7110; Email: bdaleure@crosland.com. RMC Property Group, in a joint venture with RAM Development Co., is developing The Broadway Promenade, a center located at the intersection of 10th Street and U.S. Highway 41 in Sarasota, FL. The mixed-use development will be tenanted by a 28,800 sq.ft. Publix supermarket, 5,165 sq.ft. of office space, and restaurants. The development will also include a mix of high-end local, regional and national tenants. Construction is slated to begin this year and is scheduled to open in two phases beginning with the Publix in the Spring of 2005. The residential units will open during the Summer of 2005. For more information, contact Michael Leeds, RMC Property Group, 1733 West Fletcher Avenue, Tampa, FL 33612; 813-960-8154 Ext. 222, Fax 813-963-2596; Web site: www.rmcpg.com.
For more information, contact Debbie Davis,
Renaissance Properties, 3663 Route 9 North, Suite 202, Old Bridge, NJ
08854-3517; 732-970-9400, Fax 732-970-9410. Pace Properties, Inc. is developing The Boulevard-Saint Louis, a mixed-use center located at the intersection of Highway 40/Interstate 64 and Interstate 170 in St. Louis, MO. Area retail includes the St. Louis Galleria, the area’s indoor regional mall. Construction of Phase I is currently underway and includes retail and dining spaces, the first of three public plazas and luxury apartments. Phase I anchors include Crate & Barrel, Bombay/Bombay KIDS combo store, Maggiano’s Little Italy Restaurant and P.F. Chang’s China Bistro. The Boulevard will be developed in three phases.
For more information, contact Kristin Keane, Pace
Properties, Inc., 1401 South Brentwood Boulevard, Suite 100, St. Louis, MO
63144; 314-968-9898, Fax 314-968-5050; Email:
kkeane@paceproperties.com; Web
site: www.paceproperties.com. Lewis Retail Centers is developing Eastvale Gateway, an 810,000 sq.ft. center located at the intersection of Interstate 15 Freeway and Limonite in Riverside County, CA. The center is currently anchored by a 114,657 sq.ft. Home Depot. Construction of a Vons supermarket and the remainder of the first phase of the center is scheduled to break ground early this year.
For more information, contact Lewis Retail
Centers, 1156 North Mountain Avenue, Upland, CA 91768 or PO Box 670, Upland, CA
91785-0670; 909-985-0971. The Woodmont Co. signed a development deal to expand Grant Creek Town Center in Missoula, MT by almost 30% with the sale of raw land to Furniture Row for the development of a 50,000 sq.ft. store. The concept includes multiple furniture trade entities such as Oak Express, KidsBedz, Big Sur Waterbeds and Denver Mattress, and is slated to open during April. The 50,000 sq.ft. store will be an addition to the existing 182,000 sq.ft. of retail space. There are 2.2 acres of undeveloped land left remaining at Grant Creek Town Center and only 15,000 sq.ft. of vacant retail space. The center is anchored by Ross Dress For Less, T.J. Maxx, Linens ‘n Things and Famous Footwear. For more information, contact The Woodmont Co., 2100 West Seventh Street, Fort Worth, TX 76107-2306; 817-732-4000, Fax 817-735-4738; Web site: www.woodmont.com.
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