Development

DevelopmentNew MexicoNews

Connell Underway on $400 Million Mixed-Use Redevelopment in Berkeley Heights, New Jersey

by Katie Sloan

Berkeley Heights, N.J. — New Jersey-based developer The Connell Company is underway on The Park, a $400 million mixed-use redevelopment project in the Northern New Jersey community of Berkeley Heights. The development spans 185 acres and will feature office, hospitality, residential and retail uses, as well as a network of jogging and nature trails, upon completion in 2023. Connell is set to begin construction this year of The District, a phase that will include some 300 apartments, as well as retail and entertainment space. The previous phase featured office space that …

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DevelopmentNevadaNews

Gindi Capital Completes 155,000-Square-Foot Expansion at Showcase Mall in Las Vegas

by Katie Sloan

Las Vegas — Gindi Capital has completed the Phase IV expansion of Showcase Mall, a 481,400-square-foot retail and entertainment destination in Las Vegas. Located at 3767 S. Las Vegas Blvd., the 155,000-square-foot phase includes the addition of a 50,000-square-foot Burlington and a 20,000-square-foot Target. Gindi Capital plans to add a rooftop bar and restaurant 75 feet above street level, offering views of the Las Vegas Strip. Nadel Architecture + Planning designed the expansion. 

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Saucy-Brew-Works
DevelopmentLeasingMichiganNews

Saucy Brew Works to Open Brewpub, Coffeehouse in Detroit’s Brush Park

by Katie Sloan

Detroit — Saucy Brew Works will open a new brewpub and coffeehouse in Detroit’s Brush Park neighborhood. The opening is slated for March 3. The 5,700-square-foot space will be the first restaurant within Bedrock’s City Modern apartment development. Guests will enjoy a variety of beers and specialty coffees in addition to food offerings such as appetizers, sandwiches, wings and pizza. In response to COVID-19, Saucy Brew Works will provide hand sanitizer, masks, six-foot table distancing and floor markers for spacing. Residents of City Modern will receive a 20 percent discount. This …

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Port-Covington
DevelopmentMarylandNews

Weller Development to Break Ground on Next Phase of Port Covington in Baltimore

by Katie Sloan

Baltimore — Weller Development Co. plans to break ground on what it calls Chapter 1B of Port Covington in Baltimore in February. The development team, which also includes Goldman Sachs and Sagamore Ventures, received $650 million in financing for this phase, including $137 million in tax increment financing (TIF) bonds. In conjunction with the closings, the Port Covington development team funded more than $9 million to the South Baltimore 7 Coalition as part of its Community Benefits Agreement (CBA), which is the largest CBA payout in the history of Baltimore. The latest …

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EastVillage-Austin
DevelopmentNewsTexas

Reger Holdings to Develop 425-Acre EastVillage Mixed-Use Project in Austin

by Katie Sloan

Austin, Texas — Buffalo-based Reger Holdings will develop EastVillage, a 425-acre mixed-use project that will be located along the Parmer Lane tech corridor in northeast Austin. Both the Austin American-Statesman and Community Impact Newspaper put the value of the project at approximately $1 billion. Current plans call for approximately 800,000 square feet of office space, 300,000 square feet of retail and restaurant space, three hotels totaling 390 rooms, 2,000 multifamily units, an active adult community and a 150-acre nature preserve. The centerpiece of the development will be a 1.5-acre village green …

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DevelopmentInvestment salesNewsTexas

Triten Real Estate Partners Buys 300,000-Square-Foot Market Square Mall in Plano

by Katie Sloan

Plano, Texas — Triten Real Estate Partners has purchased Market Square Mall, a 300,000-square-foot former outlet mall that is situated on 26 acres in Plano. Daniel Eng and Calvin Wong of ENGVEST represented the seller, private investor Matthew Loh, in the transaction. Dan Zeltser of SHOP Cos. represented the buyer. The new ownership will redevelop the mall, which was built in the 1980s, into a mixed-use destination. Specific details of the redevelopment plan were not disclosed.

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DevelopmentEntertainmentNewsPennsylvania

CBL Properties Opens $150 Million Live Casino Pittsburgh Destination at Westmoreland Mall

by Alex Tostado

Pittsburgh — CBL Properties, a Tennessee-based retail REIT, has debuted Live! Casino Pittsburgh, a $150 million entertainment destination that operates out of the company’s Westmoreland Mall in metro Pittsburgh. The Cordish Cos. of Baltimore developed the 100,000-square-foot casino and will operate it under its Live! brand, which is known for baseball-themed entertainment destinations in Atlanta; St. Louis; and Arlington, Texas. The two-level destination replaces a former Bon-Ton department store and offers an array of entertainment and fresh dining concepts, including American Kitchen + Craft Bar from celebrity chef Guy Fieri. …

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DevelopmentFinanceMixed-useNewsRetailersUtah

Columbia Pacific Advisors Provides $31.1 Million Construction Loan for Development of Campus SLC in Salt Lake City

by Alex Tostado

Salt Lake City — Columbia Pacific Advisors Bridge Lending, a subsidiary of Columbia Pacific Advisors, has provided a $31.1 million loan for the construction of Campus SLC, a 130,000-square-foot property that will feature anchors winter sports retailer Evo and rock climbing gym The Bouldering Project. The property will also feature local retailer L9 Sports, an art gallery, dining options, a skatepark and other recreational activities. Campus SLC will be situated at the former site of an industrial plant in Salt Lake City’s Granary district. Will Nelson of Columbia Pacific Advisors …

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Company newsDevelopmentGeorgiaMallsNewsRetailers

New York Life Taps Trademark Property to Manage Redevelopment of North Point Mall in Metro Atlanta

by Alex Tostado

Alpharetta, Ga. — Trademark Property Co. will oversee the redevelopment of North Point Mall in Alpharetta. According to several media outlets, the previous owner, Brookfield Properties, relinquished ownership back to New York Life Insurance Co. earlier this month. Trademark will also manage and lead the leasing effort for the property. North Point Mall spans 1.3 million square feet and is located near the intersection of Ga. Highway 400 and Encore Parkway, 25 miles north of downtown Atlanta. The enclosed mall features 129 stores and restaurants, including Dillard’s, JC Penney, Von …

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DevelopmentMallsNewsRetailersVirginia

Liberty University to Redevelop Portion of Mall Near Campus

by Alex Tostado

Lynchburg, Va. — Liberty University will redevelop the West End of River Ridge, a university-owned mall, less than one mile from campus. The university will demolish the Macy’s building in the first quarter of this year and plans to turn the area into an open-air shopping center with a food hall. The renovated shopping area will feature higher store elevations and urban-esque storefront designs, as well as an outdoor venue for family-themed community events. Liberty plans to deliver the food hall in late 2021 and the rest of the project …

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