Holbrook, N.Y. — Regency Centers has broken ground on the redevelopment of the 280,000-square-foot former SunVet Mall in Holbrook on Long Island. Plans for the property, which has been renamed The Shops at SunVet, include a 168,000-square-foot open-air shopping center with six outparcels. Whole Foods Market will anchor the center. Demolition of the existing structure is underway, with new construction scheduled to begin in spring 2024. SBLM Architects is the lead architect on the project.
Chicago, Ill. — McDonald’s plans to expand its presence to comprise 50,000 restaurants by the end of 2027. This will mark the fastest period of growth for the brand according to the company, which announced the planned expansion in its Investor Update and a subsequent press release. Part of McDonald’s “Accelerating the Arches” strategy, the growth will include an expected 1,000 gross restaurant openings in the United States and internationally in 2027.
New York City — Brazilian restaurant Fogo de Chão has signed a 5,009-square-foot lease in Manhattan in New York City. Situated within The Oculus at Westfield World Trade Center, the venue is scheduled to open in 2024. Harrison designed the space, which will feature an expansive dining room and open churrasco grill. This marks the ninth location for the brand in metro New York City.
Harrisonburg and Winchester Va. — Slim Chickens has signed a franchise deal for five new locations in Virginia. Franchisees Oubab and Lama Khalil of Khalil and Hamoudi S.L. Cos. will develop and operate the restaurants, which will be located in Harrisonburg and Winchester. Slim Chickens currently has more than 1,150 units in development.
Miami — Lionheart Capital, Leviathan Development and Well Duo will develop a new mixed-use project in Miami. Dubbed MIRAI Design District, the development is designed by architect Kengo Kuma, marking the first mixed-use project in the country for Kengo Kuma and Associates (KKAA). Upon completion, the property will comprise 15,500 square feet of ground-floor retail space across 17 units, with roughly 41,000 square feet of office space on the second and third floors. Construction is scheduled to begin in summer 2024, with completion anticipated by the end of 2025.
Buckeye, Ariz. — Vestar has signed leases with six tenants to anchor Verrado Marketplace, a planned 500,000-square-foot shopping center to be located in Buckeye, roughly 35 miles outside Phoenix. Target, Harkins BackLot, Safeway, Marshalls, Ross Dress for Less and HomeGoods are scheduled to open at the property in late 2025. Harkins BackLot will occupy 75,000 square feet with an entertainment concept featuring a restaurant, sports viewing arena, arcade, bowling alley and private event area. Target will open a 147,000-square-foot store, and Ross Dress for Less and HomeGoods will occupy a total …
Los Angeles — Gantry has arranged a $21.6 million loan for the development of a grocery-anchored retail project in Los Angeles. Upon completion, the project will comprise 33,700 square feet. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year financing, which one of the firm’s correspondent lenders provided, on behalf of the undisclosed borrower.
Alpharetta, Ga. — North American Properties (NAP) has announced plans for the addition of new entertainment elements at Avalon, a 2.4 million-square-foot mixed-use development located in the Atlanta suburb of Alpharetta. Construction is scheduled to begin in January 2024 and will include the addition of a raised, covered performance stage and an LED screen. The features will comprise 576 and 180 square feet, respectively. Avalon features 500,000 square feet of retail space, in addition to a hotel and office and residential space. NAP developed the project in 2012 and manages the …
Brookhaven, Ga. — Connolly has signed new tenants to Parkside on Dresden, a $70 million mixed-use development underway in the Atlanta suburb of Brookhaven. The four-acre development is scheduled to open in fall 2024 and will comprise residential units, as well as 32,000 square feet of retail and restaurant space. Tenants will include Confab Kitchen and Bar, Honeysuckle Gelato, Café Vendome, Clean Juice, El Valle, MIRAE and F45 Training. Mindy Elms and Ed O’Connor of Lavista Associates Inc. manage retail leasing at the property on behalf of Connolly.
Madison, Wis. — Whole Foods Market will open a new, 50,000-square-foot store in Madison on Dec. 13. This marks a relocation of the brand’s existing Madison store, which has been open since 1996. The store will anchor the 21-acre Madison Yards mixed-use development, which will also feature additional retail, restaurant and entertainment space surrounding a central green plaza. Products at the store will include more than 800 local items from the Midwest.
