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The Cliff
DevelopmentEntertainmentMixed-useNevadaNewsRestaurantsRetailers

City of Henderson Approves Development Plans for $50 Million Retail Project in Metro Las Vegas

by Abby Cox

Henderson, Nev. — The City of Henderson has approved development plans for The Cliff, a $50 million open-air retail and dining destination located in Henderson, roughly 15 miles outside Las Vegas. A 100,000-square-foot office complex on the property will be redeveloped into a pedestrian-friendly, retail-oriented environment that features landscaped courtyards, breezeways, public art, live music and a kiosk village named “The Yard.” Serving as the gateway to the Green Valley Ranch master-planned community, The Cliff will be Henderson’s first retail development in more than 20 years. Construction is expected to …

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The Promenade Bolingbrook
EntertainmentIllinoisLeasingNewsRestaurantsRetailers

Brookline, Rhino Investments to Renovate 778,000-Square-Foot Shopping Center in Metro Chicago 

by Abby Cox

Bolingbrook, Ill. — Brookline Real Estate has partnered with Rhino Investments Group to renovate The Promenade Bolingbrook, a 778,000-square-foot shopping center located in the Chicago suburb of Bolingbrook. Brookline has been hired to oversee leasing and lead a new vision for the open-air lifestyle center with a refreshed mix of retail, service, restaurants and experiential offerings. The center is anchored by Macy’s and Bass Pro Shops, and includes a number of specialty retailers including H&M, Ulta Beauty, DSW, Barnes & Noble, Lane Bryant, Pandora and Victoria’s Secret.

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Miami Worldcenter
DevelopmentEntertainmentFloridaMixed-useNewsRestaurantsRetailers

CIM Group, Partners Open $6 Billion Miami Worldcenter Development

by Abby Cox

Miami — Los Angeles-based investment firm CIM Group and its development partners have officially opened Miami Worldcenter, a $6 billion mixed-use development in downtown Miami. CIM Group partnered on the project with Miami Worldcenter Associates, a development entity founded by Art Falcone and Nitin Motwani. The development spans 27 acres across 10 city blocks in the city’s Park West neighborhood and has generated nearly 9,000 jobs over the course of its construction and operation. The site formerly housed blighted properties and surface parking lots. The Miami Worldcenter master plan includes approximately …

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Heritage Park
ArizonaDevelopmentMixed-useNewsRestaurantsRetailers

Creation, Crescent Break Ground on Heritage Park Mixed-Use Development in Downtown Gilbert, Arizona

by Abby Cox

Gilbert, Ariz. — A partnership between two developers, Creation and Crescent Communities, has broken ground on the first phase of Heritage Park, a mixed-use development that will occupy a full city block in downtown Gilbert. The project will function as the northern gateway of Heritage District, which at full build-out will revitalize 10 acres in the East Valley of the metropolitan Phoenix area. Phase I of Heritage Park will feature 47,000 square feet of shops and restaurants, the 288-unit NOVEL Heritage Park apartments, a public square with water features and more …

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Gosman's Dock
Mixed-useNew YorkNewsRestaurantsRetailers

Marcus & Millichap Brokers $34.4 Million Sale of Mixed-Use Portfolio on Long Island

by Abby Cox

Montauk, N.Y. — Marcus & Millichap has brokered the $34.4 million sale of Gosman’s Dock, a nine-property mixed-use portfolio located on the eastern shore of Long Island in Montauk. Gosman’s Dock — which totals 48,145 square feet — features four restaurants, six retail stores, four staff residences, a fish market, fish charter facilities, marina, boat rental site and parking. The sale also includes a vacant land parcel with the option to build a 46-room hotel. The buyers, Stephen Deckoff, founder of Black Diamond Capital Management and his son Stephen E. …

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Shops at Hollywood Park
CaliforniaLeasingNewsRestaurants

Five New Restaurant Tenants to Join Shops at Hollywood Park in Metro Los Angeles

by Abby Cox

Inglewood, Calif. — Five new tenants have signed leases to join the Shops at Hollywood Park, the 390,000-square-foot retail district located within the larger Hollywood Park mixed-use development in Inglewood. The new round of leases — which total 13,000 square feet — includes food-and-beverage concepts Raising Cane’s, The Melt, Panini Kabob Grill, Lan Noodle and Rhythm Bar and Lounge. Hollywood Park is owned, developed and operated by Los Angeles Rams owner Stanley Kroenke. Hollywood Park spans 300 acres across 890,000 square feet. In addition to retail, the development features hospitality, …

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Mountain Mike’s Pizza
Company newsLeasingNewsRestaurantsVirginia

Mountain Mike’s Pizza Signs Three-Unit Franchise Agreement in Virginia

by Abby Cox

Irvine, Calif. — Irvine-based Mountain Mike’s Pizza has signed a franchise agreement to open three new locations in Northern Virginia, marking the chain’s introduction to the state. Following its 10-unit development deal in Florida, this agreement brings Mountain Mike’s Pizza to 13 total units slated for the East Coast. The new Virginia restaurants will be developed by local franchisee Niraj Hemrajani, a multi-brand operator with a portfolio of established restaurant concepts including Cold Stone Creamery, Popeyes and Subway.   The fast-casual pizza concept currently operates restaurants in Arizona, California, Colorado, …

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Summit Fritz Farm
Investment salesKentuckyMixed-useNewsRestaurantsRetailers

Hendricks Commercial Properties Acquires Summit at Fritz Farm Mixed-Use Development in Lexington, Kentucky

by Abby Cox

Lexington, Ky. — Hendricks Commercial Properties, a Wisconsin-based development and investment firm, has acquired The Summit at Fritz Farm, a mixed-use development in Lexington that opened in 2017. The project features a collection of more than 60 shops and restaurants that sit below modern offices and The Henry apartments. Some components of the project that were not included in the sale include the Origin Lexington hotel and a 192-unit seniors housing community, Legacy Reserve at Fritz Farm. Hendricks did not disclose the sales price or specific aspects of the acquisition beyond …

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Park 10 at Avondale
ArizonaDevelopmentNewsRestaurants

Gantry Secures $9 Million Construction Financing for Retail Center in Suburban Phoenix

by Abby Cox

Avondale, Ariz. — Gantry has secured a $9 million construction loan for the development of Phase IV of Park 10 at Avondale, a mixed-use development located in the West Valley Phoenix suburb of Avondale. Situated on eight acres, Phase IV will include a build-to-suit restaurant for Cooper’s Hawk, as well as a second building that offers inline restaurant space for 85C Bakery and an unannounced third tenant. Adam Parker and Chad Metzger of Gantry’s Phoenix office represented the borrower, Parkland Development, in the transaction. A regional bank provided the three-year, …

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Legacy West
Mixed-useNewsRestaurantsRetailersTexas

Kite Realty, GIC Acquire Legacy West in Metro Dallas for $785 Million

by Abby Cox

Plano, Texas — A partnership between Indianapolis-based Kite Realty Group and Singapore’s GIC has acquired Legacy West, a mixed-use development located in Plano, for $785 million. According to Kite Realty’s first-quarter earnings report that announced the transaction, Legacy West includes 344,000 square feet of retail space, 444,000 square feet of office space and 782 multifamily units. Invesco Real Estate has been the lead equity partner in Legacy West since the project’s inception in 2014, becoming the majority owner of the development in 2019. Prism Places and Mark Masinter of Open …

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