Projects In Brief
Retail real estate development reports from America’s heartland, cities and waterfronts
Las Colinas Village
Irving, Texas
Fort Worth, Texas-based The Trademark Companies is developing Las Colinas Village, a 135,000-sq.ft. mixed-use complex in Irving, Texas. The shopping center is designed to fill the void of retail development in the area. Las Colinas is a planned development with more than 25 million sq.ft. of office space, 120,000 daytime workers and 40,000 residents but little land zoned for retail. Trademark believes that Las Colinas Village will serve as a retail and community center for Las Colinas and the surrounding communities of Coppell, Valley Ranch, and North Irving as well as the entire Irving metroplex.
Phase one, currently under construction and scheduled to open in mid-2000, will include approximately 80,000 sq.ft. of restaurant and retail space. Phase two, scheduled to open in fall 2000, will add an additional 50,000 sq.ft. of retail, restaurant and office space. Restaurants for the project include Red, Hot & Blue, Starbucks and Champps. Negotiations are underway with several other lifestyle restaurants. Retailers will include the Tinder Box and Superstand, a news and periodical superstore. Las Colinas Village will also include the first 6,000-sq.ft. Synergy Center, a combination retail store and seminar center operated by Franklin Covey. Leasing for Las Colinas Village will be handled by Lisa Alfieri of Cornerstone & Associates of Dallas.
Dallas-based architect Hodges & Associates designed the project to feature native limestone and brick, clay tile roofs, and amenities such as outdoor plazas, al fresco dining areas, and water features. Vratsinas Construction Company of Little Rock, Arkansas is the general contractor.
Las Colinas, Valley Ranch, North Irving and Coppell are home to an estimated 140,000 residents. Average household income within a five-mile radius of the development is $66,200. Located at State Highway 114 and MacArthur Blvd., the project site is visible to more than 124,000 cars per day.
For leasing information, contact Lisa Alfieri of Cornerstone & Associates, 4514 Cole Avenue, Suite 600 Dallas, TX 75205; 214-520-0099.
Fountain Point Plaza
Charleston, South Carolina
Rivers Enterprises, a private asset management firm owned by John Rivers, is creating a mixed-use project on four acres overlooking the Cooper River in Charleston, South Carolina. Fountain Point Plaza, designed by Charleston-based Glick-Boem, will include two buildings encompassing 40,000 sq.ft. each. The project is adjacent to the South Carolina Aquarium that is due to open in spring 2000. According to a local Charleston newspaper, The Post and Courier, the aquarium is projected to draw as many as one million visitors a year but will offer no food service or shopping.
The aim of Fountain Point Plaza is to fill the need for retail facilities and restaurants that will be created by the aquarium. Building one, scheduled to open in July 2000, is a rehabilitation of a coal gasification plant and will feature a 450-seat IMAX theater, a food court with local and national tenants and a nationally recognized restaurant. Building two, scheduled to open in September 2000, will have two restaurants, retailers and office space.
Design elements of Fountain Point Plaza include a clock tower, fountains and a river walk that runs along the Cooper River and connects the two buildings and the aquarium. Rivers Enterprises provided financing and will manage and lease the project.
For information, contact John Rivers, Rivers Enterprises, 40 Calhoun Street, Charleston, SC 29401; 843-723-9900, Fax 843-723-5221.
The Shops at Gainey Village
Scottsdale, Arizona
The Shops at Gainey Village, being developed by Phoenix-based Westcor Shopping Centers, will feature a blend of national and local retailers with a focus on fashion, home furnishings and trendy restaurants. The project will become part of the master-planned Gainey Village and will complement the prestigious Gainey Ranch residential development and golf resort featuring the 520-room Hyatt Gainey Ranch.
The 140,000-sq.ft. center is scheduled to break ground in early 2000 with an anticipated opening in October 2000. The project is reminiscent of another Westcor development in Scottsdale, the Borgata, which is modeled after an Italian village. However, unlike the Borgata, Gainey Village will allow for patron parking in front of individual storefronts. Gainey Village’s boutique-style village atmosphere was designed by Phoenix-based DFD Architects as an open-air facility located along Scottsdale’s “golden mile” on Scottsdale Road at Doubletree Ranch Road.
Westcor will manage and lease the project. Commitments have been received from two retailers and three eateries. Via Veneto, an upscale European shoe salon, will occupy 5,000 sq.ft. featuring top designers including Bruno Magli, Salvador Ferragamo, Amalfi, Bally and Nouchka. Kreiss Collection, also in 5,000 sq.ft., designs and manufactures furniture and will offer a full line of home accessories. Garduno’s, a festive, high-energy Mexican restaurant, will occupy 13,000 sq.ft. in its first Arizona location. Wildflower Grill, a fusion of L.A. ‘chic’ and New York ‘hip,’ will operate 7,000 sq.ft. of restaurant space offering a variety of “New American” cuisine. Paradise Bakery & Cafe will feature a 4,000-sq.ft. relaxing atmosphere offering baked goods, sandwiches and a variety of beverages.
The Shops at Gainey Village is scheduled to include additional hotel and office developments and a health spa/athletic club as part of the master plan for Gainey Village.
The area surrounding Gainey Village is home to seven world-class resorts and more than 40 hotels with 9,300 rooms, all located within minutes of The Shops at Gainey Village. The average household income is $114,000 within one mile of the project and $91,000 within three miles. Additionally, the trade area includes 7,900 businesses employing 86,000 office workers.
For leasing information, contact Mary Boyd, Westcor Shopping Centers, 11411 North Tatum Boulevard, Phoenix, AZ 85028; 602-953-6200, Fax 602-953-1964.
Gettysburg Village
Gettysburg, Pennsylvania
Gettysburg Village is a 500,000-sq.ft. open-air factory outlet center being developed in Gettysburg, Pennsylvania by Philadelphia-based Delancy Gettysburg Associates L.P. Historic Gettysburg is a major tourist destination visited by approximately four million people per year. The Gettysburg area has more than 50 restaurants, 30 hotels and 25 bed and breakfast facilities and is home to Gettysburg National Park.
Situated on approximately 111 acres, Gettysburg Village is designed to blend with the historic atmosphere of the town. The complex is comprised of 10 buildings, each with its own style and flavor complimenting the surrounding architecture. Murphy Architectural Group of West Chester, Pennsylvania used four-sided architecture to help preserve the natural and historical integrity of the Gettysburg area, incorporating features such as dormers and gables into the buildings. The village is comprised of traditional streetfronts with covered sidewalks to protect patrons from inclement weather.
Gettysburg Village broke ground on Phase I in November 1999; the $20-million project is scheduled for completion by Labor Day 2000. The first phase will contain 260,000 sq.ft. of retail space and a food court. Currently there are 70 signed tenants. In addition to the food court, there will be two as-yet-undisclosed restaurants located on outparcels, one occupying 10,000 sq.ft. and the other utilizing 7,500 sq.ft. Also included in the project is a 60,000-sq.ft. Radisson Flag hotel with 84 rooms. The Delancy Boyle Retail Group is managing and leasing the facility. Phase II of the project will see an additional 183,000 sq.ft. of retail and other cultural components to entertain and educate visitors to the Gettysburg area.
For lease information, contact Greg Boyle, Delancy Boyle Retail Group, 718 Arch St, Suite 400 N, Philadelphia, PA 19106; 215-627-6500.
The Promenade at
Howard Hughes Center
West Los Angeles, CA
Construction is underway on The Promenade at Howard Hughes Center, a two-level, 250,000-sq.ft. retail destination located on five acres within the 70-acre Howard Hughes Center in West Los Angeles, California. The Howard Hughes Center is a planned mixed-use development that will also feature office buildings, hotels and a Spectrum Fitness Club. The Promenade, being developed by J.H. Snyder Company, will be the retail component of the larger project. Scheduled to open in fall 2000, The Promenade is estimated to cost $45 million and is being financed by ORIX Real Estate Equities, Inc., of Chicago, Illinois.
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The entertainment anchor for the Promenade is an 18-screen Edwards Cinema with stadium seating and an IMAX theater. Commitments have been received from Nordstrom Rack for 40,000 sq.ft. and Borders Books and Music for 25,000 sq.ft.; negotiations with other specialty retailers are ongoing. The Promenade will also feature multiple eateries and cafes, including On the Border Mexican Cafe, Jamba Juice, Ben and Jerry’s, and Johnny Rockets. Fine dining will also be available, with some as-yet-undisclosed restaurants planning outdoor facilities to take advantage of the water fountain located in the central plaza. |
Designed by McLarand, Vasquez & Partners, Inc., the project features an art deco style with terra cotta facades and metallic decorative features. The overall design is aimed to recreate the 1940s look of the Howard Hughes era and turn the development into an urban town center. Parking for 2,150 vehicles will be available in a subterranean garage connected to two six-story parking structures.
The site, located at the intersection of the San Diego (405) Freeway and Sepulveda Boulevard, has a daily traffic count of 276,000. During 1998, the population was 208,400 within three miles of the site and 633,435 within five miles. The average household income was $59,551 within three miles and $55,748 within 5 miles.
For leasing information, contact David Obbage, J.H. Snyder Company, 5757 Wilshire Boulevard Penthouse 30, Los Angeles, CA 90036; 323-857-5546.
Pacific Plaza
Daly City, California
Pacific Plaza is a 10-acre mixed-use project being developed in a joint venture between Summit Commercial Properties of El Segundo, California and Mack-Cali Realty Corporation of New Jersey. It is currently under construction in Daly City, California and is at the heart of the city’s downtown redevelopment program. From the city, the developers purchased two and a half blocks of strip centers that are being demolished to make way for the $160-million Pacific Plaza. The project is designed to build on its location and take advantage of a major transportation corridor that includes a Bay Area Rapid Transit station adjacent to the site. Summit and Mack-Cali purchased the first four acres for $4.25 million; the price for the remaining six acres has not been disclosed.
Designed by San Francisco-based architects Kaplan, McLaughlin, Diaz, Pacific Plaza will evoke a village atmosphere with an open-air retail area and traditional streetfronts. The business portion of the project will be more contemporary, with design elements including granite facades. Also, the project will feature a one-acre central plaza that is envisioned as the town square for Daly City. A half-mile-long promenade will be bordered with trees where it meets Marchbank Park and will feature fountains and public seating.
Pacific Plaza will include a 20-screen, 78,000-sq.ft. Century Theatres multiplex; 40,000 sq.ft. of retail and restaurant space; 600,000 sq.ft. of Class A office space; and an all-suites Marriott Hotel. Tenants include a 24 Hour Fitness utilizing 29,000 sq.ft.; Todai, an Asian seafood buffet; and Baha Fresh, a Mexican restaurant. The project also includes parking for 2,700 vehicles. CB Richard Ellis is handling retail leasing.
Construction began in November 1999; phases one and two are scheduled to be completed by spring 2001 and phase three should be completed by fall 2002. Charles Pankow Builders is the general contractor.
For retail leasing information, contact Harry Koustic of CB Richard Ellis, 950 Tower Lane, Suite 870 Foster City, CA 94404; 650-577-2926.