Huntsville, Ala. — Marathon Realty Corp., an affiliate of grocer Food City, has purchased two acres in Huntsville from The Beach Co. The site is located between The Foundry, The Range and Stovehouse along Governors Drive and will be connected to the developments via a 10-foot-wide pedestrian sidewalk. A real estate subsidiary of Food City parent company K-VA-T Food Stores Inc., Marathon Realty plans to break ground on the new store next quarter, with the opening scheduled for early 2025. Last year Marathon Realty entered into a development agreement with the …
Miami — Terra and Grass River Property, two Miami-based development firms, have completed construction of Grove Central, a transit-oriented, mixed-use development in Miami’s Coconut Grove neighborhood. The property comprises a 23-story apartment tower, 1,250-space public parking garage and 170,000 square feet of retail space leased to tenants including Target and Sprouts Farmers Market. Grove Central is a public-private partnership between the co-developers and Miami-Dade County, which owns the land. The development is located at the intersection of US Highway 1 and SW 27th Avenue and connects to the adjacent Coconut Grove …
Naperville, Ill. — NewQuest Asia-Pacific Retail is scheduled to break ground in February on the redevelopment of a former Dominick’s-anchored shopping center in Naperville. The Houston-based developer acquired the 140,892-square-foot property eight months ago in an off-market transaction. The 27-year-old center is 35 percent leased. NewQuest Asia-Pacific Retail specializes in development opportunities in markets with Asian-dense populations. The developer plans to reposition the Naperville shopping center with an Asian focus and incorporate green spaces. To date, roughly 62,000 square feet of leases are in various stages of negotiations, including a commitment …
Los Angeles — The University of California, Los Angeles (UCLA) has acquired One Westside and Westside Two, located two miles from its Westwood campus in Los Angeles. A joint venture between Hudson Pacific Properties (NYSE: HPP) and Macerich (NYSE: MAC) sold the assets for $700 million. The 700,000-square-foot property — located at 10800, 10830 and 10850 W. Pico Blvd.— was formerly occupied by Westside Pavilion mall, a city landmark that served as the backdrop for a number of movies and television shows since its opening in 1985. Hudson Pacific and Macerich …
Greensboro, N.C. — Topgolf has broken ground on a new, two-level venue located in Greensboro. Upon completion, the site will comprise 72 outdoor climate-controlled hitting bays, with each bay featuring lounge furniture or high-top tables. Additionally, the venue will include a full-service restaurant, private event rooms and an outdoor area with yard games. The opening is scheduled for late 2024.
Burlington, N.J. — Moonbeam Capital is nearing completion on the first phase of the redevelopment of Burlington Center Mall, a 680,000-square-foot formerly vacant enclosed mall property located in Burlington. Moonbeam acquired the mall in 2012 and has repositioned the property as The Crossings, a 370-acre mixed-use development. Phase 1 features roughly 100,000 square feet of retail and restaurant space. Tenants include Raising Cane’s, Sleep Number, Panera Bread, Freddy’s Frozen Custard & Steakburgers and Discount Tire. Plans for Phase II include potential medical office, hotel and fitness space.
Pleasant Grove, Utah — Three new tenants have signed leases totaling 5,221 square feet at Valley Grove, a 130-acre mixed-use development currently underway in Pleasant Grove. MilkShake Factory, Shamrock Coffee and Club Pilates are scheduled to open at the property next year. Other retail tenants at the development — which also features office, residential space and hotel space — include AT&T, Café Rio, Da Cloud Boba Shoppe, Jersey Mike’s Subs, Kolache Krave, R&R BBQ, Starbucks Coffee, Slim Chickens, Verizon and Village Baker. Upon full buildout, the project cost is expected to …
Harrisburg, Pa. — St. John Properties Inc. has unveiled plans for the redevelopment of Harrisburg Mall, a 1 million-square-foot regional mall located in the Swatara Township section of Dauphin County. The company plans to build Swatara Exchange, a mixed-use development consisting of multi-use commercial space and supporting inline retail and retail pad sites. The mall will undergo an extended demolition program that is expected to conclude in 2025. The existing Bass Pro Shops and Applebee’s Grill + Bar restaurant will remain operational, and the former Toys ‘R’ Us building will be …
Joliet, Ill. — PENN Entertainment has broken ground on the $185 million Hollywood Casino Joliet at RockRun Collection in Joliet. The casino will anchor RockRun Collection, a 1 million-square-foot mixed-use development that is under construction. Cullinan Properties is the owner and developer for the 310-acre project. The land-based casino will feature approximately 850 slots and 44 live table games, including a baccarat room, retail sportsbook, bars and restaurants, and an approximately 10,000-square-foot event center with meeting areas. There will also be roughly 1,330 parking spaces. PENN expects to create 450 construction …
Newark, Del. — Reybold Group is underway on the development of Pencader Corporate Center, a 17.3-acre retail development located in Newark. A 5,500-square-foot Wawa store opened at the property Dec. 15. Upon completion, the development will also feature a 10,000-square-foot childcare center and 12,000-square-foot multi-tenant retail space.