Memphis, Tenn. — Marie Pizano of MVP3 Entertainment Group and Darnell Stitts of ATWEC Technologies have broken ground on MVP3 Studios, a 40-acre mixed-use entertainment project located in Memphis. The project is expected to cost $50 million and is predicted to create 600 jobs, according to WREG Channel 3 News. The co-developers purchased the 80,000-square-foot Malco Majestic Cinema theater and the surrounding 18 acres to redevelop the property for MVP3 Studios. The site will eventually house production sound stages, radio studios, music recording studios, a TV network and movie theaters. …
Forney, Texas — Victory Real Estate Group will develop The Victory Shops at Forney, a new retail project that will be located on a 26-acre lot in Forney, an eastern suburb of Dallas. Phase I of the project will consist of 44,000 square feet across four buildings. Phase II of the development will span 160,000 square feet. Tenants are set to include Kohl’s, Aspen Dental, Jamba Juice, Chiloso Tex-Mex, The Joint Chiropractic, Mod Pizza and My Eye Lab. Construction of Phase I is set to begin in mid-September and to …
Cypress, Texas — InvenTrust Properties Corp. will redevelop Cyfair Town Center, a 433,667-square-foot shopping center in the Houston suburb of Cypress. The center is anchored by Kroger, JC Penney and Cinemark. The first phase of the renovation will begin this month, with completion scheduled for the fourth quarter of 2021. The second phase will begin in January 2022 with completion anticipated in late summer 2022. InvenTrust’s improvements to the center will include new paint, LED lighting along the storefront exteriors, storefront awnings, upgraded signage and enhanced landscaping throughout the property. …
Richmond, Va. — A joint venture between Elevation Real Estate Group, Auerbach Funds and Beechmont Acquisitions has begun redevelopment at Parc Place at Short Pump Town Center, an 82,968-square-foot shopping center in the Richmond suburb of Short Pump. Renovations will include an upgrade to the center’s façade; the addition of new lighting; parking lot repairs and re-striping; upgraded landscaping; and a new marquee sign and logo. In addition, Ocean Crab Seafood will open its first Virginia location and become the anchor restaurant tenant for the center. Renovations are underway and …
Missouri City, Texas — KM Realty Investment Trust Inc. has unveiled plans for the redevelopment of Township Square, a 67,000-square-foot shopping center located in the southwestern Houston suburb of Missouri City. Identity Architects is designing the project, which will upgrade the façade and landscaping of the 1980s-era property. The redevelopment is scheduled to begin in late fall and, tentatively, to be complete in the first quarter of next year. Tenants, which include Old Hickory Inn BBQ, Codemark Financial and Sugar’s Cajun Cuisine & Bar, will remain open during construction.
Westfield, Ind. — Holladay Properties and Holladay Construction Group have broken ground on a $10 million agritourism facility for West Fork Whiskey Co. in Westfield, about 30 miles north of Indianapolis. The 35,000-square-foot project is located on the northeast corner of 191st Street and Horton Road across from Grand Park Sports Campus. Plans call for a 5,000-square-foot event space, retail store, 4,000-square-foot restaurant with a cocktail lounge, speakeasy and additional production and aging space. The facility will offer interactive tours, tastings and other educational components. Completion is slated for 2022. …
Lowell, Ark. — KMK Equity has broken ground on a 15,503-square-foot retail center at Independence Plaza, a 30-acre development with office, retail and hospitality space in Lowell. The retail center is set for delivery in early 2022. The development will consist of seven retail stores; two outdoor patios; and two drive-thrus on each end of the building. The remaining six lots on the property are zoned for a restaurant, hotel and four office buildings. David Erstine and Alex Schemel of CBRE in Fayetteville are marketing the project’s office and retail …
Ontario, Calif. — Wood Investments Cos. has purchased a 19.6-acre development site within the master-planned community of Ontario Ranch in Ontario. San Diego-based GDC RCCD 2 LP sold the property for $18.5 million. Wood Investments plans to develop The Ranch at Model Colony Shopping Center, a 206,072-square-foot retail property, at the site. The shopping center will be located at the intersection of Ontario Ranch Road and Hamner Avenue. Already signed tenants include Burlington, Five Below, Hobby Lobby and Planet Fitness. Brian McDonald and Walter Pagel of CBRE represented Wood Investments …
Missouri City, Texas — NewQuest Properties has broken ground on Phase II of Fort Bend Town Center, a project that will add 300,000 square feet of shopping, dining and entertainment space to the local supply of Missouri City, located southwest of Houston. A 12-screen Cinemark theater will anchor the 42-acre second phase, which is expected to come on line in the third quarter of 2023. NewQuest is also in the midst of negotiations with six potential junior anchor tenants for Phase II.
Dallas — AT&T has opened Discovery District, a project that transformed the telecommunications giant’s headquarters in downtown Dallas into a mixed-use destination with retail, restaurant, office and entertainment uses. Designed by global architecture firm Gensler, AT&T Discovery District spans 6.5 acres and includes multiple art installations, as well as interactive features for customers. The Beck Group served as the general contractor of the project, which was conceived more than five years ago.