Development

MAB American to Break Ground on $80 Million Monroe Pavilion Shopping Center in Metro Atlanta

by Alex Tostado January 21, 2020

Monroe, Ga. — MAB American Management plans to break ground in the first quarter on Monroe Pavilion, an $80 million shopping center situated on a 100-acre site in Monroe, an Atlanta suburb in Walton County. The property’s leasing agent, Retail Specialists, has signed several retailers to join the tenant roster of the 350,000-square-foot project, including Publix, Ross Dress for Less, Ulta Beauty, Marshalls, Rack Room Shoes and Five Below. Beau Young of Retail Specialists is also targeting restaurants and service-based retailers for the shopping center and its outparcels. MAB American …

January 21, 2020

Company news Development News Pennsylvania Retailers

Five Below Plans to Open 180 Stores in Fiscal Year 2020

by Alex Tostado January 20, 2020

Philadelphia — Five Below Inc. plans to open 180 stores this year, which would grow the Philadelphia-based retailer’s footprint by 20 percent. The announcement came during the company’s fourth-quarter earnings call. Specific plans for the openings were not disclosed. At the same time, Joel Anderson, president and CEO of Five Below, said the company also acquired the e-commerce platform, fulfillment operation and certain other assets of Hollar.com.

January 20, 2020

Development Leasing Malls Maryland News Retailers

URW Unveils Renovation Plan, New Tenants at 1.4 Million-Square-Foot Westfield Annapolis Mall

by Alex Tostado January 16, 2020

Annapolis, Md. — Unibail-Rodamco-Westfield (URW), the owner of Westfield Annapolis mall, has unveiled plans to renovate and improve the mall, while adding new tenants. URW will convert the mall’s 110,000-square-foot former Lord & Taylor department store into a new shopping district composed of boutiques, home design stores and experience-driven offerings. The new section of the mall is slated to open to the public in 2021. URW’s mall-wide renovation program will include a new pedestrian gallery connecting the property’s Macy’s store and its Pottery Barn and Nordstrom wings. The gallery is …

January 16, 2020

California Development Finance News Retailers

Parkview Financial Funds $19.8 Million Loan for French Valley Commons Project in Southern California

by Alex Tostado January 16, 2020

Winchester, Calif. — Parkview Financial has provided a $19.8 million loan to Temecula, California-based W Development Partners for construction of the first phase of French Valley Commons, a 14.1-acre mixed-use project in Winchester. The initial phase will include a nine-building development situated at the northwest corner of Leon and Benton roads in Winchester’s French Valley area. Totaling 87,231 square feet, the first phase will feature 36,524 square feet of retail space spanning six buildings and 50,532 square feet of flex/light industrial space spread across three buildings. Three of the planned …

January 16, 2020

Development News Retailers Texas

CityRow to Open First Texas Fitness Studio in Allen

by Alex Tostado January 13, 2020

Allen, Texas — CityRow, a boutique fitness concept based in New York, plans to open its first Texas studio at 1314 W. McDermott Drive in Allen. Set to open Feb. 8, CityRow Allen will feature personal instructors leading 50-minute classes that utilize water-based rowing machines and weighted strength training. David Regelean is the owner of CityRow Allen. The studio will be situated within McDermott Towne Crossing, a Kroger-anchored shopping center.

January 13, 2020

Development Malls New York News

University of Rochester Plans $240 Million Orthopedics Campus at Marketplace Mall

by Alex Tostado January 10, 2020

Rochester, N.Y. — The University of Rochester (UR) will develop The UR Medicine Orthopaedics & Physical Performance Center at The Marketplace Mall in Rochester. The 330,000-square-foot facility will be the largest off-site building in UR history. Wilmorite, owner of The Marketplace Mall, will sell the former Sears department store and surrounding mall property to UR. Plans call for repurposing the vacant Sears building as the shell for the new ambulatory surgery center, with new operating rooms and procedure rooms. New construction would create a multi-story tower above the surgery center, …

January 10, 2020

Development Entertainment Leasing News North Carolina Retailers

CBL Inks Lease with Dave & Buster’s at Cross Creek Mall in Fayetteville, North Carolina

by Alex Tostado January 10, 2020

Fayetteville, N.C. — CBL Properties has unveiled redevelopment plans for Phase I of the former Sears department store within Cross Creek Mall in Fayetteville. New-to-market Dave & Buster’s will occupy and operate the space, which is under construction. Chattanooga, Tenn.-based CBL also says it is looking add restaurants, specialty stores and other uses that will further enhance Cross Creek Mall. The Sears closed in January 2019. The mall is located at 419 Cross Creek Mall, five miles west of downtown Fayetteville. Additional details including the timing of the Dave & …

January 10, 2020

California Development Entertainment News Restaurants Retailers

Unibail-Rodamco-Westfield to Redevelop 160,000-Square-Foot Former Los Angeles Sears Store into Dining, Entertainment District

by Alex Tostado January 8, 2020

Los Angeles — Unibail-Rodamco-Westfield plans to redevelop the long-vacated former Sears department store in the Canoga Park neighborhood of Los Angeles into a new dining and entertainment district. The empty store is located in the Westfield Topanga & The Village shopping center. Slated to open in late 2021, the new district will feature a chef-driven food hall, sit-down restaurants, lounges, cocktail bars, interior and exterior boutiques, and entertainment and recreational activities, as well as landscaped indoor and outdoor public spaces and plazas. The renovation will also create a grand entrance …

January 8, 2020

Development Grocery-anchored New York News Retailers

Wegmans to Open 121,000-Square-Foot Supermarket in Harrison, New York

by Alex Tostado January 8, 2020

Harrison, N.Y. — Wegmans Food Market will open a 121,000-square-foot supermarket in Harrison, a northern suburb of New York City. The store is known for its wide selection of fresh produce, deli meats, cheeses and fresh baked breads, as well as its devoted following of “Wegmaniac” fans. The store will also house an internal restaurant called The Burger Bar, which will serve made-to-order burgers, sandwiches, salads and other casual cuisine, as well as beer and wine by the glass. Wegmans plans to hire 280 part-time and 220 full-time employees at …

January 8, 2020

Development Investment sales Malls Michigan News Retailers

Out of the Box Ventures Acquires Lakeside Mall in Michigan, Plans to Bring in New Uses

by Alex Tostado December 26, 2019

Sterling Heights, Mich. — Out of the Box Ventures, a subsidiary of Miami-based Lionheart Capital, has acquired Lakeside Mall in Sterling Heights. The purchase price was $26.5 million, according to Crain’s Detroit Business. Out of the Box Ventures plans to incorporate new uses to the property other than retail but has not disclosed specific plans. The buyer acquired the mall after General Growth Properties Inc. defaulted on its $144 million mortgage loan. Lakeside Mall is the largest mall in the state of Michigan with more than 1.5 million square feet. It …

December 26, 2019

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