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DevelopmentFloridaMixed-useNewsRetailers

Tricera Capital Breaks Ground on 265,000-Square-Foot Retail, Office Redevelopment Project in South Florida

by Alex Tostado

West Palm Beach, Fla. — Miami-based Tricera Capital has broken ground on the redevelopment of the Palm Beach Post newspaper office campus in West Palm Beach. The project, named The Press, will add 125,000 square feet of new retail space and 140,000 square feet of refurbished office space to the market. The project began with the demolition of a two-story office building and bridge. The development team, which acquired the 11-acre site in February 2019, will preserve most of the remaining structures, including those that housed the Post’s original office building and printing press. …

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ArizonaDevelopmentGrocery-anchoredNewsRetailers

Evergreen Devco Breaks Ground on 172,000-Square-Foot Shopping Center in Metro Phoenix

by Alex Tostado

Gilbert, Ariz. — Evergreen Devco has commenced construction for The Post at Cooley Station, a grocery-anchored shopping center located at the southeast corner of Recker and Williams Field roads in Gilbert. Situated on 23 acres, the retail center will feature 23,000 square feet of multi-tenant shop space in three buildings. Anchored by Fry’s Marketplace, the project will also include AutoZone, Taco Bell and Burger King. Currently, the center is 65 percent preleased, with one junior-anchor pad available. Butler Design Group, Optimus Civil Design Group, Kraemer Engineers and Laskin & Associates …

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DevelopmentNewsRetailersTexas

River Oaks Breaks Ground on 252,000-Square-Foot Retail Power Center in El Paso

by Alex Tostado

El Paso, Texas — Locally based shopping center developer River Oaks Properties has broken ground on Eastlake Marketplace, a 252,000-square-foot retail power center that will be located at the corner of Interstate 10 and Eastlake Boulevard in El Paso. The opening is scheduled for late 2020.

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DevelopmentMallsMassachusettsMixed-useNewsRetailers

PREP Property Group to Redevelop Mall into Mixed-Use Property in Metro Boston for $250 Million

by Alex Tostado

Hanover, Mass. — PREP Property Group has unveiled plans to redevelop Hanover Mall in Hanover, approximately 22 miles southeast of downtown Boston. The project costs are estimated at $250 million. PREP will rebrand the mall as Hanover Crossing, an open-air, mixed-use project that will feature 297 multifamily units and will be anchored by an 80,000-square-foot Market Basket Supermarket. Market Basket will feature Market’s Kitchen and Café, a prepared foods department offering a variety of freshly made meals, sandwiches, salads, subs, brick oven pizza and Niji sushi. The location will also …

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DevelopmentNewsPennsylvaniaRetailers

PREIT, Macerich to Open 900,000-Square-Foot Fashion District Philadelphia on Thursday

by Alex Tostado

Philadelphia — On Thursday, Sept. 19, a joint venture between PREIT and Macerich will launch Fashion District Philadelphia, a 900,000-square-foot retail district housing dozens of shopping, dining and entertainment destinations. The $400 million project is a redevelopment of the old Gallery mall. A range of clothing and accessory retail options include Aeropostale, Burlington, Columbia and ULTA. The Fashion District will also house coworking spaces from REC Philly and Industrious. Other notable anchors of the district include City Winery, AMC Theaters, rotating art installation Wonderspaces, Market Eats food hall, mini theme …

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DevelopmentGrocery-anchoredMassachusettsNewsRetailers

Market Basket Will Anchor 306,000-Square-Foot Mixed-Use Development in Maynard, Massachusetts

by Alex Tostado

Maynard, Mass. — Market Basket Supermarket will anchor the 306,000-square-foot Maynard Crossing mixed-use development currently under construction in Maynard, located approximately 23 miles west of Boston. The 70,000-square-foot store plans to hire 250 associates and will feature a full-service butcher and café with sandwiches, pizza and sushi. Capital Group Properties is developing Maynard Crossing, will include additional retail tenants and a 180-unit apartment complex called The Vue at Maynard Crossing. Maynard Crossing is slated for completion by the end of 2019. Additionally, Hawthorn Retirement Group is developing a 143-unit senior …

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DevelopmentFloridaGrocery-anchoredNewsRetailers

GBT Realty to Develop Sprouts Farmers Market in Southwest Florida

by Alex Tostado

Estero, Fla. — GBT Realty Corp. has signed a 10-year lease with Sprouts Farmers Market and will develop a 30,000-square-foot store at Estero Grande in Estero. The Phoenix-based grocery chain is expected to move into the space in spring 2020. Estero Grande is a mixed-use development that sits on 30 acres, offering 200 multifamily units and an 8,700-square-foot retail building with tenants such as Starbucks Coffee, Verizon, Woof Gang Bakery, Noire Nail Spa and Zoom Tan. Additionally, a Texas Roadhouse is expected to open this month.

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DevelopmentFinanceNew JerseyNewsRetailers

Cushman & Wakefield Arranges $72.5 Million Construction Loan for Retail Redevelopment in Roxbury, New Jersey

by Alex Tostado

Roxbury, N.J. — Cushman & Wakefield has arranged a $72.5 million construction loan for the redevelopment of The Shops at Ledgewood Commons, a retail center in Roxbury, located about 40 miles west of New York City. Santander Bank provided the loan, exact terms of which were undisclosed. The borrower, Advance Realty Advisors, plans to reposition the former enclosed mall into an open-air retail center. John Alascio, Sridhar Vankayala, T.J. Sullivan and Zachary Kraft of Cushman & Wakefield arranged the loan.

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DevelopmentNewsRetailersTexas

Weitzman to Renovate Target-Anchored Shopping Center in Irving

by Alex Tostado

Irving, Texas — Weitzman will renovate Irving Towne Center, a 240,000-square-foot retail center located at the intersection of State Highway 183 and North Belt Line Road in Irving. Originally built in 1986 and anchored by Target, the center houses tenants such as Tuesday Morning, On The Border and Anytime Fitness. Hodges & Associates is the architect for the renovation project, which is expected to begin in late 2019 or early 2020 and to be complete by the end of 2020.

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DevelopmentGeorgiaNewsRestaurants

Velvet Taco Opens First Restaurant in Atlanta

by Alex Tostado

Atlanta — Velvet Taco has opened its first Atlanta restaurant in Buckhead. The 2,500-square-foot establishment is situated at 77 W. Paces Ferry Road within a Whole Foods Market-anchored shopping center. The late-night joint offers a variety of chicken, beef, pork, fish and vegetarian tacos as well as brunch options. Velvet Taco expects to open a second Atlanta location next year at the Interlock development in West Midtown, according to local media. Based in Dallas, the brand also operates restaurants in Austin, Chicago and Houston.

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