Development

Moreno Valley Business
DevelopmentEconomic DevelopmentFeaturesIndustry ContentRestaurantsRetail InsightRetailers

Commercial Growth in Moreno Valley

by Sarah Daniels

Successful companies looking to expand their brand know there is one location in Southern California that consistently beats the rest: the City of Moreno Valley. There’s a reason that companies like Sprouts, Raising Cane’s, Texas Roadhouse, Hilton, Capriotti’s and WoodSpring Suites are expanding in the city. They are supported by Moreno Valley’s second-to-none pro-business environment, a skilled and motivated workforce, strategic location and affordable lease rates. Fortune 500 and international companies are thriving in Moreno Valley, and here’s why. Location, Location, Location Situated at the junction of SR-60 and I-215, …

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Verrado-Marketplace-Buckeye-AZ
ArizonaDevelopmentNews

Vestar, DMB Development Unveil Plans for 500,000-Square-Foot Development in Suburban Phoenix

by Katie Sloan

Buckeye, Ariz. — A partnership between Vestar and DMB Development has unveiled plans for Verrado Marketplace, a 500,000-square-foot development located in the Phoenix suburb of Buckeye. The project will include a grocery store, apparel and home décor stores, a department store, movie theater, specialty shops, restaurants and service providers alongside public outdoor spaces. The development site is located near Verrado, an 8,800-acre master-planned community. Construction is scheduled to begin in mid-2023 following necessary approvals from the City of Buckeye.

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Shops-at-Willow-Bend-Plano
DevelopmentInvestment salesNewsTexas

Partnership Acquires 1.4-Million-Square-Foot Shops at Willow Bend in Plano, Plans Redevelopment

by Katie Sloan

Plano, Texas — A partnership between Centennial, Cawley Partners and Waterfall Asset Management has acquired the 1.4 million-square-foot Shops at Willow Bend in Plano. The new ownership plans to redevelop the property, though specific details were not disclosed. Taubman originally developed the shopping center in 2001. Tenants include Neiman Marcus, Dillard’s, Macy’s, Crate & Barrel, Vineyard Vines, H&M, Anthropologie, Equinox and Crayola Experience. California Pizza Kitchen, Wetzel’s Pretzels and Great American Cookies are among the food and beverage tenants. According to Chain Store Age, the seller was Spinoso Real Estate Group.

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Wekiva-Riverwalk
DevelopmentFinanceFloridaNews

Trez Capital Provides $11.4 Million Refinancing for Wekiva Riverwalk in Suburban Orlando

by Katie Sloan

Apopka, Fla. — Trez Capital has provided an $11.4 million refinancing for Wekiva Riverwalk, a 235,390-square-foot shopping center located at 2271 E. Semoran Blvd. in the Orlando suburb of Apopka. The center was fully leased at the time of financing to tenants including Petco, Ross Dress for Less, Marshalls, Five Below and Bed Bath & Beyond. A portion of the financing will be used to build out space for two new tenants — Sprouts Farmers Market and Ulta Beauty — which are set to open in June, and to fund …

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Downtown Murrieta
DevelopmentEconomic DevelopmentEntertainmentFeaturesIndustry ContentRetail Insight

City of Murrieta Fosters Retail Growth, Especially in Experiential Sectors

by Sarah Daniels

The city of Murrieta is a city on the grow — and for this area, the process of developing means expanding and deepening retail offerings, many of which are in the realm of experiential retail. The city is seeking to make a name for itself as it expands its offering for its residents and attracts visitors interested in family friendly fun, dining experiences and resorts that cater to relaxation. Located in Southwest Riverside County between Los Angeles and San Diego, Murrieta has a population of more than 118,000. The city …

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River-Oaks-District
DevelopmentNewsTexas

The Festival Cos. Announce Renovation Plans for River Oaks District in Houston

by Katie Sloan

Houston — The Festival Cos. have announced renovation plans for River Oaks District, a 250,000-square-foot mixed-use development located at 4444 Westheimer Road in Houston. Enhancements are set to include the addition of a public park on the western side of the property; redevelopment of the center’s central plaza; and the addition of three restaurants with outdoor dining named Bari, Little Hen and Oio De Agua. Construction is set to begin this month with completion slated for fall 2022. Additionally, several new retailers are set to open this year, including Assouline …

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2017_0831_ThompsonVillage_BLDG-1.pdf
CaliforniaDevelopmentFinanceNews

Joint Venture Receives $39.4 Million Construction Loan for Shopping Center in French Valley, California

by Katie Sloan

French Valley, Calif. — Marcus & Millichap Capital Corp. (MMCC) has secured $39.4 million in construction financing for French Valley Marketplace, a grocery-anchored shopping center development in French Valley. The non-recourse loan will provide funds to complete the horizontal and vertical construction of the project. A partnership between Trinity Investors and Halftery Development Co. are leading the fully entitled, 22-acre project. Current tenants include Grocery Outlet, Rite Aid, EoS Fitness, McDonald’s, AutoZone and 7-Eleven. Brandon Wilhite of MMCC and Sunny Sajnani and Todd McNeill of Institutional Property Advisors, a division …

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DevelopmentFloridaInvestment salesNews

Electra America and BH Group Buy South Florida Mall for $100.4 Million, Plan Mixed-Use Redevelopment

by Katie Sloan

Cutler Bay, Fla. — Electra America and BH Group have formed a joint venture to purchase Southland Mall, a 808,776-square-foot shopping mall in the Miami suburb of Cutler Bay. The buyers purchased the 80-acre site for $100.4 million with plans to reposition the mall and develop new Class A apartments on the campus. The joint venture is working closely with the Town of Cutler Bay on the redevelopment project. Located at 20505 S. Dixie Highway, Southland Mall was 80 percent leased at the time of sale to more than 100 …

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DevelopmentNewsTexas

Weitzman Completes Renovation of 108,778-Square-Foot Meadow Central Market in North Dallas

by Katie Sloan

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.

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The Stacks
DevelopmentNewsWashington DC

Joint Venture Plans to Break Ground on 2 Million-Square-Foot Stacks Mixed-Use Property in D.C.

by Julia Sanders

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 …

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