Dallas — Weitzman has completed the renovation of Meadow Central Market, a 107,778-square-foot shopping center in North Dallas. The project centered on remodeling the anchor tenant space occupied by Tom Thumb, which now features an expanded beer and wine selection, full-service seafood department, expanded bakery and remodeled produce, dairy and meat departments. Weitzman also upgraded the center’s façade, signage, landscaping, parking and security. Other tenants at Meadow Center Market include CVS/pharmacy, Edible Arrangements, The UPS Store and Sylvan Learning Center.
Washington, D.C. — A joint venture between Akridge, National Real Estate Advisors, Blue Coast Capital and Bridge Investment Group has plans to break ground on the first phase of The Stacks, a 2 million-square-foot mixed-use project in Washington, D.C. Bank OZK is providing a $367 million construction loan for the first phase of the development. William Collins, Bindi Shah, Marshall Scallan and Shaun Weinberg of Cushman & Wakefield arranged the loan. The construction timeline was not disclosed. The first phase of The Stacks will include three rental residential towers totaling …
Plano, Texas — Triten Real Estate Partners has begun the redevelopment of Market Square Mall, a 300,000-square-foot shopping and dining destination located north of Dallas in Plano. The firm originally acquired the 26-acre property, which was built in the mid-1980s, in January 2021. Plans for the redevelopment, which will be branded Assembly Park, currently call for 180,000 square feet of office space, 16,500 square feet of retail and restaurant space and 305 residential units, all of which will surround a central park. Agent Architecture and Michael Hsu Office of Architecture …
Bala Cynwyd, Pa. — Federal Realty Investment Trust will redevelop Bala Cynwyd Shopping Center, a 174,000-square-foot retail and dining destination in Bala Cynwyd, about 6 miles from Philadelphia. The $8 million project will include upgrading façade aesthetics, creating common- and tenant-designated outdoor dining and gathering areas and improving pedestrian and vehicular circulation. Additionally, up to 80 outdoor seats and eight curbside pickup spaces will be added. Completion is scheduled for summer 2023. Current tenants at the 23-acre center include ACME Markets, Michaels, Five Guys and Honeygrow. All tenants will remain …
Broomall, Pa. — Federal Realty Investment Trust is underway on the second phase of the redevelopment of Lawrence Park Shopping Center, a 374,000-square-foot retail and dining destination located in the northwestern Philadelphia suburb of Broomall. The project carries a total price tag of $30 million. ACME Markets currently anchors the 29-acre center, and other tenants include HomeGoods, T.J. Maxx and Mrs. Marty’s Deli. The redevelopment began last year with the delivery of a healthcare facility for Main Line Health. Phase II includes the addition of 32,000 square feet of retail …
Addison, Texas — AMLI Residential and Stream Realty Partners have been named master developers for a $472 million, 18-acre, mixed-use development in Addison, roughly 15 miles north of Dallas. The Town of Addison has been acquiring land for the project since the inception of the DART Light Rail system in 1983 with plans for a transit-oriented development. The project is centered on a DART Silver Line station currently under construction near Addison Circle Park, a 10-acre, master-planned public park. DART has partnered with the Town of Addison through a ground-lease …
Dallas and Coppell, Texas — Dave & Buster’s Entertainment Inc. (NASDAQ: PLAY) has agreed to acquire family entertainment concept Main Event for $835 million in an all-cash transaction. The seller is a joint venture between Ardent Leisure Group Limited and Red Bird Capital Partners, and the deal is expected to close later this year. Chris Morris, current CEO of Main Event, will act as CEO of the combined entity upon closing. The purchase price represents a valuation of approximately nine times Main Event’s 12-month adjusted earnings before interest, taxes, depreciation …
Marietta, Ga. — Eden Rock Real Estate Partners and Connolly have broken ground on a 90,000-square-foot building to be occupied by Kroger at MarketPlace Terrell Mill, a $120 million mixed-use project at the intersection of Terrell Mill and Powers Ferry roads in Marietta. Planned features for the building, which is scheduled for completion in April 2023, include a drive-thru pharmacy, dedicated area for online order pickups and an 18-pump Kroger Fuel Center. The new store will replace an existing Kroger situated on Delk and Powers Ferry roads less than a …
Chicago — McHugh Construction has broken ground on FanDuel Sportsbook, a new 13,000-square-foot sports betting venue being developed by online gaming company FanDuel Group at the United Center in Chicago. The United Center is the home of the Chicago Bulls and Chicago Blackhawks. Completion is slated for August. The two-story lounge is being constructed in areas that formerly housed offices for the United Center and Blackhawks staff as well as two lower-level suites. HOK is the architect for the project, which will feature state-of-the-art viewing and sports wagering technology. The …
Billerica, Mass. — PROCON has broken ground on the redevelopment of Billerica Mall on the northern outskirts of Boston. Development plans include the demolition of an 84,000-square-foot structure that was vacated by Kmart several years ago and the construction of a new 43,000-square-foot grocery store at that site. In addition, the development team, which is led by an entity doing business as F.B. Billerica Realty Investors LLC, will deliver 18,000 square feet of new restaurant space and upgrade the property’s signage, landscaping and utility systems. Lastly, the project team will …