Development

Miracle-Mile-Shops-Las-Vegas
DevelopmentNevadaNews

Institutional Mall Investors Starts Renovations at 500,000-Square-Foot Miracle Mile Shops on Las Vegas Strip

by Katie Sloan

Las Vegas — Institutional Mall Investors LLC, a joint venture between Miller Capital Advisory and CalPERS, has started renovations at Miracle Mile Shops, a 500,000-square-foot shopping center on the Las Vegas Strip. The property is attached to the Planet Hollywood Resort & Casino. The mixed-use project will remain open during construction, which is scheduled for completion in spring of 2023. The redevelopment costs were not disclosed.  New entertainment features will include exterior and interior immersive light, sound and video experiences. Miracle Mile Shops guests will also enjoy new and upgraded …

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Conference CoverageContent PartnersDevelopmentEconomic DevelopmentFeaturesIndustry ContentLearn from Industry LeadersLeasingRetail InsightRetailersVideos

Moreno Valley Fosters Business Success

by Sarah Daniels

The City of Moreno Valley is located in Southern California in the Inland Empire, one of the fastest growing regions in the United States. The residence of over 217,000 people and growing by 3.5 percent every year, the city is home to both Fortune 500 and international companies. With 4,500 businesses in Moreno Valley, the city is courting restaurant and hospitality companies, as well as using its unique incentive programs to further encourage growth.​ The City of Moreno Valley knows that time is money, so their business concierge service helps …

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Suffolk-Downs
DevelopmentMassachusettsMixed-useNews

Partnership Breaks Ground on 16.2 Million-Square-Foot Mixed-Use Redevelopment of Suffolk Downs Racetrack Near Boston

by Katie Sloan

Revere, Mass. — The HYM Investment Group, Cathexis and National Real Estate Advisors have broken ground on the redevelopment of the former racetrack site at Suffolk Downs in Revere, about five miles north of Boston. The project will ultimately span 16.2 million square feet of development, including 10,000 apartments and condominiums; 5.2 million square feet of life sciences and office space; 450,000 square feet of retail and civic space; and 40 acres of parks and open space. The Suffolk Downs thoroughbred racetrack opened in 1935 and was shuttered in 2019. HYM …

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Willis-Tower-Repositioning
DevelopmentIllinoisMixed-useNews

EQ Office Completes $500 Million Renovation of Willis Tower in Chicago

by Katie Sloan

Chicago — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office. Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and its printed catalog. Designed by Gensler, Catalog features restaurants such as …

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DelawareDevelopmentLeasingNewsVirginiaWashington DC

Wegmans Opens New 81,300-Square-Foot Grocery Store in Metro D.C., Two More Planned to Open

by Katie Sloan

Washington, D.C. — Wegmans is expanding in metropolitan Washington, D.C. In early May, the grocer opened an 81,300-square-foot store at 150 Stovall St. in Alexandria, Virginia, a store that anchors Stonebridge’s Carlyle Crossing mixed-use development. The Alexandria store opened earlier this month and is the 14th Wegmans in Virginia and 107th nationwide. The grocer also plans to open an 85,000-square-foot store within the Halley Rise development in Reston, Virginia, and an 84,000-square-foot store at the $640 million City Ridge development in northwest Washington, D.C. The City Ridge store will open in …

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Tanger-Outlets-Nashville-rendering2
DevelopmentNewsTennessee

Tanger Breaks Ground on 290,000-Square-Foot Outlet Mall in Nashville

by Katie Sloan

Nashville, Tenn. — Tanger Factory Outlet Centers Inc. has broken ground on Tanger Outlets Nashville, a 290,000-square-foot outlet mall in Nashville. Scheduled to open in fall 2023, the six-building, open-air property will be located on a 32-acre site along I-24 within the Century Farms development. Tanger Outlets Nashville will house 70 brands and provide approximately 1,100 full- and part-time retail and management positions upon completion. Nashville will be the third Tennessee market served by Tanger as the Greensboro, North Carolina-based company has outlet malls in Sevierville and Memphis. The property …

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Wawa
DevelopmentFloridaNews

Azor-Led Partnership to Develop Wawa Store Near Midtown Plaza in Plantation, Florida

by Katie Sloan

Plantation, Fla. — A partnership led by Beth Azor of Azor Advisory Services has announced plans to break ground on a Wawa convenience store at 100 Pine Island Road in Plantation. The development will be located adjacent to Midtown Plaza, a 6,400-square-foot center home to tenants including Starbucks Coffee, Chim Authentic Thai and Smoosh Cookies. The development has received city approval and is awaiting a building permit.

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Midway-Crossing-Islip-New-York
DevelopmentNew YorkNews

Public-Private Partnership to Develop $2.8 Billion Mixed-Use Project on Long Island

by Katie Sloan

Islip, N.Y. — A public-private partnership between The Town of Islip, Suffolk County and JLL has unveiled plans for Midway Crossing, a $2.8 billion mixed-use project that will be located on Long Island. The Long Island Regional Planning Council approved the project, which will be the largest commercial or residential development on Long Island in the last 50 years, on the evening of Thursday, May 12. Midway Crossing will span approximately 2.7 million square feet across 179 acres. Plans currently call for a variety of uses, including life sciences, healthcare …

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WestEnd-Alexandria
DevelopmentNewsVirginia

Joint Venture Demolishes Landmark Mall Outside Washington, D.C. for 4 Million-Square-Foot Mixed-Use Project

by Katie Sloan

Alexandria, Va. — Foulger-Pratt, The Howard Hughes Corp. and Seritage Growth Properties have broken ground on the 4 million-square-foot WestEnd Alexandria project with the demolition of Landmark Mall. The development is located roughly eight miles outside Washington, D.C., in Alexandria. Built in 1965 as an open-air shopping center, the 715,520-square-foot Landmark was converted to an enclosed shopping mall in 1990. The mall officially closed its doors in 2017 following Howard Hughes Corp.’s purchase of the former Macy’s store, but the Sears department store remained open until 2020.  Last year the Sears …

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Josh Williams retail leasing, development and sales activity
DevelopmentEconomic DevelopmentEntertainmentFeaturesFinanceIndustry ContentInvestment salesLeasingRetail Insight

Physical Retail Focuses on Quality, Customers

by Sarah Daniels

Josh Williams, senior vice president and director of investments out of Cullinan Properties’ Houston office, has been closely monitoring the leasing, development and sales activity for brick and mortar since our national emergence from the pandemic began. Below are the trends he sees, and where he believes this market is headed. Retail Insight: What would you say is the overarching trend in retail real estate right now? Williams: As we emerge from the pandemic, we are seeing a wide variety of retail assets returning to pre-2020 activity levels, all with one overarching …

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