Los Angeles — Cal-Coast Development Corp. and Rescore Property Corp. are underway on the development of The Rise Koreatown, a 688,000-square-foot mixed-use project located in the Koreatown neighborhood of Los Angeles. Upon completion, the property will feature 363 apartment units and 52,619 square feet of retail space. Nadel Architecture + Planning is the architect for the project, the first phase of which was recently completed.
Huntington Beach, Calif. — Six new tenants are set to open at Bella Terra, an 852,000-square-foot mixed-use development currently underway in Huntington Beach. The property is being developed by a partnership between DJM and PGIM. Philz Coffee is scheduled to open in July and Fogo de Chão will open in August, with Jan’s Health Bar and Snooze AM Eatery both set to open this fall. The Golf Bar will also open at the property this winter, and Sender One, an indoor climbing gym, will open next year. Additionally, Marila’s Mexican, previously …
San Diego — Fruit juice concept Sip Fresh has entered a three-unit franchise agreement with operator Kevin Tam for locations in metro San Diego. The deal includes the acquisition of an existing store located in the Westfield UTC Mall and plans for two additional locations in the area. Tam’s previous experience includes concepts Wetzel’s Pretzels and Sweetgreen, as well as other quick service restaurant brands and food trucks. Sip Fresh plans to sign 35 new franchise agreements by the end of the year.
Sandy Springs, Ga. — A partnership between CONNOLLY and Coro Realty has announced plans to reposition the retail portion of a 120,000-square-foot mixed-use development located in Sandy Springs, roughly 16 miles north of Atlanta. The partnership acquired the property in February 2022 for $40.5 million. Formerly known as Sandy Springs Gateway, the development will undergo capital improvements and be known as Chastain Market going forward. Improvements will include infrastructure improvements, increased connectivity among common areas and upgraded landscaping. New tenants will also join the property, with chef Kevin Maxey opening a …
Atlantic City, N.J. — Tower Investments has developed ISLAND Waterpark, a 120,000-square-foot waterpark located at The Showboat Resort in Atlantic City. Scheduled to open June 30, the property features 11 slides, a surf simulator, man-made waterfall, rollercoaster, zipline course, treehouse, water sports pool, play area for children and a lazy river. Additionally, the waterpark includes six bars and a 10,000-square-foot adults-only space.
New York City — Automaker Rivian has opened a 5,000-square-foot store in New York City’s Meatpacking district, marking the most recent location for its “Spaces” lineup, a collection of temporary and permanent experiential retail centers. Featuring a floor-to-ceiling glass storefront, the space will showcase the company’s flagship vehicles and offer product education and community programming. Rivian plans to introduce more Spaces stores throughout this year and 2024, with upcoming locations including Brooklyn, New York; Laguna Beach, California; and a 10,000-square-foot site in Austin, Texas.
Atlanta — Hospitality group 200 Peachtree is underway on the development of two restaurants located at 200 Peachtree Street in downtown Atlanta. SKOL Brewing Co., a craft brewery, will comprise 5,000 square feet and is expected to open later this year. Food, beverage and entertainment hall Valhalla Social is scheduled to open in spring or summer 2024 and will total 15,000 square feet, with seating for roughly 300 people. CNNA Architects is the architect for both projects.
White House, Tenn. — The Sembler Co. has announced plans for White House Shops, a 75,000-square-foot retail center to be developed in White House, roughly 30 miles outside Nashville. Publix has signed a 48,387-square-foot lease to anchor the property, which will also feature 11,000 square feet of adjacent retail space and 9,000 square feet of shop space across two additional buildings. Completion of the project is scheduled for next summer. Semblar acquired the 20-acre site earlier this month from a private owner for an undisclosed price.
Verrado, Ariz. — HCCJ Family Partners has broken ground on Sunrise Market, a 35,000-square-foot mixed-use development located in Verrado, roughly 30 miles west of Phoenix. Tenants at the property, which is currently 65 percent pre-leased, will include Copper & Sage, Bobazona, Bosa Donut and Honey Nail. James DeCremer, Matt Milinovich, Alec Miller and Drew Sampson of Avison Young manage leasing at the project on behalf of HCCJ. Construction is scheduled for completion in January 2024.
Shelton, Conn. — GreenLake Asset Management LLC has provided a $34.4 million loan for the refinancing and construction of Fount Square, a retail center currently underway in Shelton. Development at the property previously halted due to construction liens and partnership complications. The undisclosed borrower has used the loan to settle outstanding financing and more than 60 vendor liens, as well as complete a partnership buyout and also plans to use the funding to complete the project. Tenants at the property will include Chick-fil-A, Panera Bread and Taco Bell.
