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Entertainment Specialty Projects
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This Month’s features: Arizona Gets Its First Taste of Fruits & Passion Mall Tenants Looking for Locations Adding to Orlando, FL’s rising liveliness is a $100 million project that would add office space, another hotel, shops and a condo tower. The developers are hotelier Richard Kessler, who operates the 250-room Westin Grand Bohemian Hotel on South Orange Avenue, and unidentified “national residential builder” and Highwoods Properties, Inc., owners of the 2.2-acre site located at the intersection of Pine Street and Rosalind Avenue. Construction on all three developments are slated to begin late this year, with completion in phases in 2007 and 2008, according to the senior vice president for Florida operations for Highwoods Properties, Inc., Mike Beale. The mixed-use project would complete the Capital Plaza development, which comprises a 167-room Embassy Suites hotel and both the Capital I and Capital II office buildings. According to preliminary plans filed with the city, Kessler, who opened the 250-room Westin Grand Bohemian in 2001, would develop a seven-story, 150-room hotel; meanwhile, no brand or operator has been announced. The 15-story office tower would have a total of 15,000 sq.ft. of office space atop of eight parking levels, while the 13-story condo tower would have 121 apartments situated above five levels of parking. According to Beale, the residential developer “is a nationally known name.” In addition to the two towers, 10,000 sq.ft. and 15,000 sq.ft. of retail space would be included, along with a drive-in plaza that would face Rosalind Avenue. Highwoods had originally planned a single 450,000 sq.ft. office tower for the project, but Orlando’s evolving downtown scene basically demanded that there be a development that would offer space for people to live, work and play. Vibrant is an understatement for the description of the city, considering Orlando’s city center has erupted with development in current years. For example, the Premiere Trade Plaza development, located at the intersection of Church Street and Orange Avenue, is under construction with office space, condominiums and a retail center that includes a movie theater. In the northwest part of town, at the intersection of Livingston Street and Orange Avenue, developers are planning an enormous project including more condos, more office space and retail space as well as a new hotel. Overall, according to the Downtown Development board, projects worth more than $2 billion are either being proposed or are under construction, with 57,000 people working in the downtown area. For more information, contact Michael Beale, Highwoods Properties, Inc., 201 South Orange Avenue, Suite 400, Orlando, FL 32801; 407-849-2600 Ext. 112; Email: mike.beale@highwoods.com; Web site: www.highwoods.com.
Across the country, construction has begun on a $200 million mixed-use community in Leawood, KS that will include around 690,000 sq.ft. of upscale retail space, luxury condominiums and a new corporate headquarters for Demdaco, a 155-employee Stilwell manufacturer. Parkway Plaza is located at the intersection of 135th Street and Roe Avenue and is situated on 60 acres. Demdaco is locating to the site in two buildings, totaling 75,000 sq.ft. The project is being developed by Parkway Plaza, LLC and is already 75 percent leased, sold or subject to negotiations. The development will include about 364,000 sq.ft. of residential space, 125,000 sq.ft. of office space and 200,000 sq.ft. of retail space. For more leasing information, contact Scoot Taubin, The R.H. Johnson Co., 801 West 47th Street, Suite 219, Kansas City, MO 64112; 816-561-5111, Fax 816-561-5551; Web site: www.rhjohnson.com.
Over in Annapolis, MD, the Westfield Annapolis shopping center is set for a $100 million expansion that will make it the largest shopping center in Anne Arundel County. The 240,000 sq.ft. expansion will allow space for 60 new retailers, restaurants and two small anchors. J. Crew, In Salon day spa and Paiva, an upscale women’s fitness clothing store, have already signed leases, while Williams-Sonoma has signed on to expand to an 8,000 sq.ft. space. Three new parking structures will add 1,000 spaces and the center’s interior will be upgraded with new tiling, landscaping and sidewalks, to give it a “main street” look. Construction is set to be completed in fall 2007. For more information, contact Westfield Annapolis, 2002 Annapolis Mall Annapolis MD 21401; 410-266 5432, Fax 410-266-3572: Email: annapolis@westfield.com; Web site: www.westfield.com.
55 West on the Esplanade, the $140 million mixed-use development located on West Church Street in Orlando, FL is currently being developed. 55 West will feature a 32-floor, mixed-use tower with 405 condominium units. Tenants will be able to partake in the building’s more than 75,000 sq.ft. of retail shops and restaurants, with outdoor cafes in the midst of a park-like atmosphere. Just a short walk from the central business district, the development offers enticing options for those seeking the daily excitement of city living. For a virtual tour of the properties construction updates, a list of downtown events, floor plans of the deluxe, city and loft residences and penthouses, and even aerial views, visit www.fiftyfivewest.com. The central Florida office of Trammell Crow Co. will oversee the retail leasing of 55 West. Retail tenants already committed to the project include Gino’s Pizza & Brew, Amura Japanese Restaurant, CondoHQ Sales Studio, Barnie’s Coffee and Wine Bar and Panchero’s Mexican Grill. 55 West’s preferable cotenants include restaurant, entertainment and upscale tenants for an urban setting. With the project having 405 residential units, the development is also considering tenants to fulfill the convenience retail needs of its residence, as well as the retail needs of a large, growing and concentrated downtown worker population. For 55 West on the Esplanade leasing information, contact Genny S. Ward, Trammell Crow Co., 1900 Summit Tower Boulevard, Suite 750, Orlando, FL 32810; 407-618-1300, Fax 407-618-1230. Or contact Loree Barnard, Trammell Crow Co., 400 North Ashley Drive, Suite 1700, Tampa, FL 33602; 813-383-3713 Fax, 813-222-0694. For development updates, contact James. L Schroder, Euro American Advisors, 54 West Church Street, Suite 169, Orlando, FL 32801; 407-236-0028, Fax 407-236-0030; Email: jschroder@eaausa.com . |