Entertainment & Specialty Project Roundup
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Entertainment & Specialty Project Roundup

Seco Development is planning to develop Island Market Square at the intersection of 27th Street and 78th Avenue in Mercer Island, WA. The project will contain office, residential and commercial space in five buildings. Other projects include Gateway Commons at the intersection of 27th Street and 77th Avenue Southeast; Island Crest Plaza, a $1.6 million two-story office complex, Montesano Condos, a 23-condominium development and Avellino, a $4.5 million, five-story mixed-use building. The project will encompass 603 apartments and 113,283 sq.ft. of retail and office space. The project will cost an estimated $35 million and will replace a parking lot and four buildings with 200 apartments, small shops, underground parking and office and commercial space. The retail shops and restaurants will be at ground level. All of the buildings are expected to be completed by 2007.

For more information, contact Seco Development, 10843 Northeast 8th Street, Suite 200, Bellevue, WA 98004; 425-688-3085, Fax 425-637-1922; Email: seco@secodev.com.

Chelsea Property Group is developing Chicago Premium Outlets at the intersection of Interstate 88 and North Farnsworth Avenue in Aurora, IL. The 435,000 sq.ft. center will have more than 100 outlet stores and is expected to open during Spring 2004. The center will be located near Domick’s Finer Food, West Ridge Corporate Center and Aurora Corporate Center. The company plans to front fund the $96 million it will cost for the center and neighboring wetland area improvements. One-fourth of the cost will be reimbursed by the city of Aurora through property and sales taxes. The center will occupy 60 of the 140 acres the company has purchased. Approximately 80 acres of the project will be used for wetland and flood plain mitigation.

For more information, contact Sherman L. Jenkins, Chelsea Property Group, Inc., 103 Eisenhower Parkway, Roseland, NJ 07068; 973-228-6111.

Jennifer Gray Realty Services, LLC is preleasing Plaza Real, a two-story lifestyle center with an office component located at the intersection of John McCain and Highway 26 in Colleyville, TX. The center features Mediterranean/Spanish architecture with a fountain in the center and restaurants at the endcaps. Opening is expected during Fall 2003.

For more information, contact Amy Pitman, Jennifer Gray Realty Services, LLC, 5200 Colleyville, TX 76034; 817-498-6002, Fax 817-498-6070; Email: apitman@jennifergrayrealty.com; Web site: www.jennifergrayrealty.com.

Continental Real Estate Co. is planning to add a Kauffman’s Department Store to The Waterfront in Homestead in downtown Pittsburgh, PA. The 24-acre site would be located between PNC Park and Heinz Field. The department store has an agreement to place a 140,000 sq.ft. store on a three-acre site near the existing Dave & Buster’s and the new Improv comedy club. The store would serve as an anchor to the entertainment and restaurant complex with a mixture of retail, offices and apartments. If approval is obtained, the store would be expected to open during October 2003.

For more information, contact Frank Kass, Continental Real Estate Co., 150 East Broad Street, Columbus, OH 43215; 614-221-1800.

Maui Land and Pineapple Co., Inc. is developing Upcountry Town Center, a mixed-use center that combines retail stores, office, residential and civic buildings, a Maui fresh produce venue and a feed store and stable. The center will be located at the intersection of Makawao Avenue and Haleakala Highway in Pukalani, HI. The center has 96,600 sq.ft. of retail space and is expected to open during 2004. Demographics include a population of 117,644 earning $45,732 as the median household income.

For more information, contact Marty Kenney, Maui Land Pineapple Co., Inc., Queen Ka’ahumanu Center, 275 Kaahumanu Avenue, Kahului, Maui, HI 96732; 808-877-3369, Fax 808-877-5992; Email: mek@maui.net; Web site: www.kaahumanu.net.

Monterey Redevelopment Agency and the Kam Sang Development are developing North Atlantic Retail/Entertainment Center just off of the San Bernardino Freeway in Monterey Park, CA. The site encompasses 200,000 sq.ft. of retail and restaurant space and 200,000 sq.ft. of residential space. Demographics include a population of 300,601 within three miles earning $56,988 as the average household income.

For more information, contact Kelvin Tainatongo, Monterey Park Redevelopment Agency, 320 West Newmark Avenue, Monterey Park, CA 91754; 626-307-1385, Fax 626-307-1467; Email: ktainatongo@montereypark.ca.gov. For leasing information, contact Mark Baziak, Grubb & Ellis, 949-608-2087 or Max Franco 213-596-2217.

Hopkins Real Estate Group and Lennar Partners have acquired the Whittwood Mall in Whittier, CA for $49 million. The 65-acre mall is located at the intersection of Whittier Boulevard and Santa Gertrudes Avenue and is anchored by Sears, JCPenney, Mervyn’s and Vons. The company plans to de-mall the project and convert it to a town center with a residential application. CB Richard Ellis was awarded the leasing and marketing contract for Whittwood Town Center’s retail component.

For more information, contact Larry Weese, Hopkins Real Estate Group, 13 Corporate Plaza, Suite 200, Newport Beach, CA 9260; 949-270-2418.

INH Investment Real Estate Group is planning to build the 60,000 sq.ft. Centre Square III office and retail complex in downtown St. Cloud, MN. Plans also call for a three-story parking ramp at the intersection of First Street South and Seventh Avenue to be built. The parking ramp will be located next to Herberger’s Department Store. The building will consist of two floors of office space and a ground floor of retail. Construction on the $6 million, three-story building is expected to begin by December.

For more information, contact INH Investment Real Estate Group, 300 E. Germain Street, St. Cloud, MN 56304; 320-252-2000.