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Roundup
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Entertainment Specialty Projects
December 2004 Greystone Realty Group, Inc. is leasing Cornerstone, a mixed-use main street development located at the intersection of West 130th Street and Pearl Road in Parma Heights, OH. The 34-acre site will feature restaurants, retail and office space, apartments and homes, walking trails, a pedestrian-friendly main street and a central green. The center will be anchored by Claire’s Folly, a 96,000 sq.ft. family entertainment complex and Old Time Pottery. There will also be 115,000 sq.ft. of additional retail space available. The center also will include The Variety, a state-of-the-art multi-screen cinema. The Variety, a 35,000 sq.ft. theater, will feature 12 screens complete with ramp and stadium seating and digital sound systems. For more information, contact Leonard Corsi or Amy Corsi, Greystone Realty Group, Inc., 715 Wye Road, Akron, OH 44333: 330-668-1951; Web site: www.greystone-realty.com.
Oakridge Investments is developing the Center at Preston Ridge Phase 1B, a 30-acre site in Frisco, TX. The center will be located adjacent to The Centre at Preston Ridge, a 908,450 sq.ft. center, and the 1.6 million sq.ft. Stonebriar Centre. The Center at Preston Ridge is located at the intersection of The Dallas North Tollway, Preston Road and State Highway 121 and is anchored by Super Target, T.J. Maxx, Marshall’s, Best Buy, Ross, Old Navy, Pier 1 Imports, PetsMart, Stein Mart, Linens ‘N Things and Staples. These developments are all part of Frisco Bridges, a four million sq.ft. commercial and entertainment area. Frisco Bridges includes the 10,000-seat Frisco Roughriders Dr. Pepper minor league ballpark and the Dallas Stars headquarters and practice facility, as well as home to the Major League Soccer Dallas Burn. As part of the complex, the city of Frisco is building a $40 million, 12-story, 321-room full-service Embassy Suites hotel. For more information, contact Belinda Alaniz, Oakridge Investments, 8235 Douglas Avenue, Suite 815-LB49, Dallas, TX 75225; 214-269-2865, Fax 214-361-2375; Web site: www.oakridgeinvestments.com.
Investment Management Associates, Inc. is preleasing a center located at the intersection of Florida Turnpike, Red Road and Miramar Parkway in Miramar, FL. The mixed-use development will consist of 22 acres; 220,000 sq.ft. of offices and hotels; an 80,000 sq.ft. strip center and various outparcels for banks, daycare and restaurants. The center will be developed by Baumgard Development Corporation. For more information, contact Investment Management Associates, Inc., 1575 San Ignacio Avenue, Suite 100, Coral Gables, FL 33146; 305-661-0110, Fax 305-661-7803.
Crosland, Inc. and Carolina Holdings, Inc. are developing Providence Marketplace, an 830,000 sq.ft. center located at the intersection of Interstate 40, Mount Juliet Road and Belinda Parkway in Mount Juliet, TN. The site is at the entrance to Providence, a 1,000-acre multi-use, master-planned community being developed by CPS Land that calls for 3,400 single and multi-family homes. The center will be anchored by Belk and a 73,500 sq.ft. Kroger, which is slated to open during Spring 2006. Providence Marketplace will have a diverse mix of stores, including specialty shops, restaurants, department stores, retailers providing specific services and merchandise and a movie theater with stadium seating. The land plan calls for several “centers within a center” to offer a variety of shopping. The layout consists of four distinct shopping areas separated by sidewalks, landscaped medians and parking, with numerous entrances along three sides of the property. For more information, contact Peter B. Pappas, Crosland, Inc., 227 West Trade Street, Suite 800, Charlotte, NC 28202; 704-561-5272, Fax 704-523-7110; Email: ppappas@crosland.com. Or contact, Carolina Holdings, 300 North Main Street, Suite 402, Greenville, SC 29601; 864-272-0088, Fax 800-272-0078; Email: richelle.doney@choldings.com.
Integral Real Estate Group LLC is developing Sweet Auburn Village, a $35 million, 2.5-acre center located in the Sweet Auburn Avenue corridor between the central business district and the Martin Luther King Jr. tomb and birthplace, in Atlanta, GA. The project is slated to break ground later this year and it will include housing, stores, businesses, restaurants and entertainment venues. The development will include 180 townhomes atop 42,800 sq.ft. of retail/restaurant/entertainment space. The development may also include 40,000 sq.ft. of office space. The company also is planning to develop Centennial Park East, a $45 million, 2.4-acre project located within blocks of Centennial Olympic Park in Atlanta. For more information, contact The Integral Group, 60 Piedmont Avenue NE, First Floor, Atlanta, GA 30303; 404-224-1880, Fax 404-224-1898; Web site: www.integral-online.com
Metro Development Co. is planning to develop a 140-acre mixed-use center located at the intersection of Routes 611 and 132 in Warrington, PA. The Valley Square project includes 500,000 sq.ft. of lifestyle and traditional upscale retail, including a 130,000 sq.ft. Wegmans Super Store; 110,000 sq.ft. of office space, more than 200 residential units for people 55 and older and a 100-room hotel and numerous themed restaurants. Area demographics include a population within seven miles earning $83,286 as the average household income. Opening is slated for October 2005. U.S. Realty Associates, Inc. will handle the management and will co-lease the project with Madison Marquette. About 60% of the center is preleased. For more information, contact Gregory Bianchi, U.S. Realty Associates, Inc., 232-234 North 22nd Street, Philadelphia, PA 19103; 215-557-9900 Ext. 141, Fax 215-557-0878; Web site: www.eusrealty.com. Or contact Peter Maggio at 215-557-9900 Ext. 140.
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