Done Deals
Midtown Sundries comes to Manchester Village
A 10,000-sq.ft. Midtown Sundries is being planned for Manchester Village in Rock Hill, South Carolina. The new location will combine the best of a sports bar, with continuous TV broadcasts; a full-service bar; lunch and dinner menus featuring sandwiches, burgers, steaks, seafood and barbecue; billiards; and live music. Seating for 365 patrons is planned.
An January 2001 opening is slated for the $3.5-million eatery, which will be located at the northwest corner of the Manchester Village development and across from a new 17-screen movie theater. This is the fifth restaurant to sign up within the development, with Roadhouse Grill, Chili’s Grill & Bar, Wendy’s and Bob Evans Restaurant already committed.
For more information, contact Tony Berry, Manchester Associates, 803-328-8799; Fax 803-329-1386; e-mail: tonyb@infoave.net.
HMSHost Wins Contract
The Salt Lake City International Airport Board awarded a contract to HMSHost Corporation for development and operation of 13 retail concepts at the airport. The project is expected to include local, regional and national stores and is to be completed by the fourth quarter of this year to take advantage of the holiday and sports travel season.
HMSHost plans a streetscape design with architectural elements including colonnades and overhead structures to give the impression of in-line shops in an outdoor street concourse. Tenants will include Lids, Wilsons-The Leather Experts, Daily News, Franklin Covey, Fossil, News Exchange, and Simply Books. Also part of the retail mix will be the Salt Lake City Emporium, which features local retailers including Granato Imports, Cummings Chocolates, The Werks Gourmet Snacks and Sundance Farms.
With a look toward 2002 when Salt Lake City will be hosting the Winter Olympics, certain sports venues will be featured, to include Medals (Olympic gifts), Sporting Eyes and FANZZ.
The new retail venues are expected to compliment the refreshment additions also being developed by HMSHost at the airport, which include Great American Bagel, California Pizza Kitchen ASAP, Great American Bagel and Dick Clark’s Bandstand Grill.
For more information, contact Joan Ryzner, senior vice president, retail, HMSCorporation, 301-380-7000; Web site: www.hmscorp.com.
Champions Forest Plaza Lures Retailers
The 20-year-old Champions Forest Plaza in Houston, Texas, once a rural community shopping center, has responded to area growth by reinventing itself into a dynamic lifestyle center with an upscale tenant mix. Houston-based brokerage firm Boyd Page developed and implemented a retail plan that has been responsible for a strong collection of local retailers and national chains at the center, with more openings scheduled through the summer and fall.
Champions Forest Plaza
Current tenants include Children’s Collection, Harold Powell, Talbot’s, Chico’s, Starbuck’s Coffee Company, and Carrabba’s Italian Restaurant. Opening doors in June 2000 were The Container Store, Sur la Table and Draper’s and Damon’s. Ann Taylor will open a 5,000-sq.ft. location this month, Victoria’s Secret will open 5,500 sq.ft. in September, and The Gap/Gap Kids/Baby Gap have committed to 10,000 sq.ft. scheduled to open in February 2001.
Champions Forest Plaza is located at the northeast corner of FM 1960 and Champions Forest Drive. The surrounding area, once rural and then suburban, experienced significant growth with the opening of a nine-building office complex by Compaq Computer Corp., creating jobs, new housing and a demand for upscale retail facilities. Existing housing values rose with the influx of high-tech executives and professionals moving to the area and the average household income within a one-mile radius is now $102,460. Champions Forest Plaza is 93 percent leased but has four small spaces available.
For further information, contact Scott Schillings of Boyd Page, 713-877-8400.
WEC to Take Over Saks Building
The Saks eight-story Boston Store building, located at the west end of Grand Avenue Mall in downtown Milwaukee, Wisconsin, will have a new owner and a new look in the near future. An agreement in principle was reached for a transfer of ownership from Saks to Wisconsin Energy (WEC). The deal includes a commitment by Saks to continue operating the Boston Store while WEC will fund an estimated $33-million refurbishment that will result in a mixed-use facility housing the store, Saks corporate offices and approximately 60 apartments.
WEC will pay for the renovations and also assume ownership of a 750-car parking garage adjacent to the building. Saks will be responsible for upkeep, taxes and maintenance while operating the Boston Store for at least 10 years. The agreement also calls for Saks to keep its corporate office, which employs approximately 700 people, at the location for at least 15 years. WEC will be seeking a developer for the project later this summer, with construction and remodeling expected to begin in October. The completion date for the project is 2002.
For more information, contact Mike James, manager of property management, Wisconsin Energy, 414-221-2719; Web site
www.wisenergy.com.
Victoria’s Secret Reveals New Look
A new Victoria’s Secret location at the Inland Center Mall in San Bernardino, California will launch a redesigned look for the 30-year-old chain. The 4,385-sq.ft. store, scheduled to open this month, will be the first to exhibit the new, muted look.
Victoria’s Secret signed a long-term lease at the center, where yearly sales exceed $310 psf. The chain sells lingerie, swimsuits, apparel and body care products in its stores and catalogues and online at www.VictoriasSecret.com.
For more information, contact Inland Center, 909-884-7268; Real Estate Department, Intimate Brands, 614-415-8000.
Coach Inc. Looking to Expand
If plans for a spinoff from parent company Sara Lee and a resulting public offering are successful, Coach Inc. plans to expand with 50 openings and remodeling of existing stores over the next three years. As well, new Coach-branded products may be introduced for the home and possibly the pet markets and the company is studying growth opportunities in Japan. The leather goods retailer is looking to raise $140 million in its IPO, which is being managed by Goldman, Sachs & Co. Coach reported sales of $507 million in the last fiscal year.
For more information, contact Janet Bergman, vice president, investor relations and corporate affairs, Sara Lee, 312-558-4966.
Former Omni Mall Goes High Tech
The former Omni Mall at 1601 Biscayne Boulevard, Miami, Florida is being converted into a telecommunications center. The 1,043,083-sq.ft. property was purchased from CP Miami Hospitality, LP and CP Miami Retail LP for $30 million. CB Richard Ellis represented the buyer, Argent Ventures, LLC, in the transaction.
Omni Technology Center
The new facility will be known as Omni Technology Center and is located in the center of the growing advanced technology industry in Southern Florida. The multi-story complex has been converted to house high-technology users such as data centers, Internet service providers, application service providers and related e-commerce companies.
For more information, contact Chris Coots, Michael Klotz or Richard Tarquinio, CB Richard Ellis, Inc., 305-381-6426.
Casino Factory Shoppes to Expand in Tunica
Seven-month-old Casino Factory Shoppes in Tunica, Tennessee is planning a two-part expansion that will enlarge the center to more than 300,000 sq.ft. The retail center is located at the intersection of U.S. 61 and Grand Casino Parkway Extension, across from the main entrance to the Grand Casino. The first expansion, planned to be ready in time for the holiday shopping season later this year, will add more than 43,000 sq.ft. to the center. Lease commitments have been received from Levi’s and Nautica.
The second expansion phase will occur next spring with The Gap and Liz Claiborne expressing interest. Retailers in the center include Casual Corner, Carter’s, Gail Pittman, Calvin Klein, Bass Shoes, Hit or Miss, Bugle Boy and Linen Barn.
For more information, contact Casino Factory Shoppes, 662-363-2200.
L.A. Fitness Looking for Metro Atlanta Spaces
L.A. Fitness agreed to purchase 22 Australian Body Works locations in a move to become the largest fitness chain in Atlanta, Georgia. In addition to the purchase, L.A. Fitness announced plans to open eight more Atlanta locations with all of its signature features, including personal training, saunas, full-court basketball, steam rooms and sports rehabilitation.
The chain is looking for locations with high visibility and easy access. Founded in 1984, L.A. Fitness operates more than 70 locations in California, Arizona, New Jersey, Pennsylvania, Florida and, now, Georgia.
For more information, contact Ruth Coan, The Shopping Center Group, 770-955-2434, Fax 770- 951-0054; e-mail:
rucoan@msn.com.
Bottega Veneta to Open on Magnificent Mile
One of Italy’s leading designers of high-end leather goods, Bottega Veneta, will open a two-level, 4,500-sq.ft. flagship store on Chicago’s Magnificent Mile in the new Park Hyatt Hotel. U.S. Equities Real Estate, LLC represented the Park Hyatt in the lease transaction. The leather retailer will join Giorgio Armani, which signed a 10,000-sq.ft. lease at the site. Bottega Veneta will occupy 2,000 sq.ft. at ground level and 2,500 sq.ft. on the second floor in the renovated landmark building. The new site will replace the retailer’s current store at 840 North Michigan.
The building has been restored as part of the Park Hyatt’s Park Tower development, a 67-story mixed-use facility that includes a 203-room Park Hyatt hotel, a 120-seat restaurant, a health club and spa, a private art gallery, retail space, and 117 condominium residences.
For more information, contact Mr. Camille Julmy, vice chairman, U.S. Equities Real Estate, 312-456-7000.