MAJOR TENANT HAPPENINGS Culpeper, Va. - Construction is under way on a new 33,000 sq. ft. Food Lion supermarket at Culpeper Town Mall in Culpeper. The 131,000 sq. ft. center is being completely renovated and reconfigured to accommodate the building of the new grocery store, a new facade and other retail stores. The project is expected to be completed in mid-October, with an opening planned for mid-December. Owned and managed by Conshohocken, Pa.-based Kranzco Realty Trust, the center is anchored by Schewel's Furniture and Martin's Furniture.
NEW DEVELOPMENTS Knoxville and Pigeon Forge, Tenn. - Development plans are under way for Merchants Towne Square in Knoxville and The Shoppes at Eagle's Nest in Pigeon Forge. Both are projects of Knoxville-based Graham Development Corp. Merchants Towne Square will be a 400,000-plus sq. ft. enclosed outlet mall, featuring other entertainment/mixed-used retail, including a food court. It is part of a 30-plus-acre city block that includes an existing Kroger supermarket.
The Shoppes at Eagle's Nest will be a 200,000-plus sq. ft. entertainment/retail-themed shopping center located on the Parkway of Pigeon Forge, the gateway to the Great Smoky Mountains National Park. Although no names have been announced, the development is expected to have a large anchor, 50 or more specialty retailers and at least two outdoor patio restaurants. Construction on both projects is expected to begin this fall with completion set for spring 2000.
Tunica, Miss. - Construction has begun on Casino Factory Shoppes in Tunica, a project of Boston-based C.F.S. Development Co. The $24 million outlet center will feature over 300,000 sq. ft. of GLA and approximately 60 stores when it opens for the Thanksgiving holiday weekend. Jackson, Miss.-based Benchmark Construction Co. is building the fast-track project.
Arlington, Va. - Rockville, Md.-based Federal Realty Investment Trust and Atlanta-based Post Properties are developing Pentagon Row in Arlington. The 18-acre project will fuse retail and residential in one central location, while providing a pedestrian-friendly place for area residents to socialize, shop or spend a leisurely afternoon or evening. It will feature more than 300,000 sq. ft. of street-level retail space, over 500 mid-rise apartment homes, and a plaza area. Tenants will include Harris-Teeter, Bally Total Fitness, and an array of specialty and convenience shops, restaurants and entertainment venues. The project signals the realization of an alliance formed last fall between the two companies to build a number of similar mixed-use, Main Street-style projects nationwide. It is expected to be completed in the first quarter of 2001.
REDEVELOPMENTS Canton, Mass. - The Flatley Co., Braintree, Mass., is converting Village Mall in Canton into the Village Shoppes. The site will be transformed from an enclosed mall into an open-air lifestyle center hosting a mix of major retailers and smaller specialty stores. The work calls for the removal of more than 50,000 sq. ft. of retail space at the core of the existing mall in order to reconfigure the center. Tenants are expected to open by late 1999 and early 2000.
RENOVATIONS Boston - Faneuil Hall Marketplace in Boston is undergoing a $10 million renovation and remerchandising program, which calls for physical improvements as well as the addition of new restaurants, shops and entertainment-oriented venues that will include a performance area for programs and events. Some of the changes will include a cafe renovation program to allow for year-round dining in the Quincy Market building; an air tempering plan in the Colonnade food area to provide comfortable temperatures on hot days while maintaining on open-market atmosphere; improved push cart areas; additional seating and eating sections; and an overall reconfiguration of signage.
The project is being financed jointly by Faneuil Hall's developer and manager, The Rouse Co., Columbia, Md.; and its owners, the Boston Redevelopment Authority and the City of Boston. It is being done in two phases, with Phase I expected to be completed in spring 2000 and Phase II to follow in spring 2001.
CENTER OPENINGS Conyers, Ga. - Atlanta-based Ben Carter Properties is developing Conyers Crossroads, a 365,000 sq. ft. retail and family entertainment center in Conyers, an eastern suburb of Atlanta. Scheduled to open in summer 2000, it will feature Carmike Cinemas, Old Navy, Circuit City, Michaels, Staples and an as-yet-unnamed specialty department store. The center also will include approximately 60,000 sq. ft. of local and regional retailers. Restaurants Chuck E. Cheese and On the Border will occupy two of the three available outparcels. Architecturally, Conyers Crossroads will feature individual storefronts with varying roof lines, covered walkways, pedestrian benches, sidewalk lighting and landscaped areas.
Denver - Miller Weingarten Realty LLC, a joint venture between Houston-based Weingarten Realty Investors and Denver-based Miller Development, are developing three retail projects in the Denver area. The Crossing at Stonegate, a 163,000 sq. ft. center in Parker, a southeastern suburb of the city, is expected to get under way this month. Anchored by King Soopers Supermarket, a division of Kroger, the center will feature 48,000 sq. ft. of shop space and five outparcels when completed in spring 2000.
In unincorporated Arapahoe County, the company is developing Bridges at Smoky Hills, which will feature 50,000 sq. ft. of retail space. Approximately 12,000 sq. ft. in Phase I is expected to be completed by year's end, with Phase II to follow and be completed in mid-2000.
In Elizabeth, located 30 miles southeast of Denver, Phase I of The Gold Creek Shopping Center has already opened. The 26,000 sq. ft. retail project is being done in two phases, with the second expected to be completed by early 2000. The center is located adjacent to a 43,000 sq. ft. Safeway Supermarket that opened in late 1998.
EXPANSIONS Woodlawn, Md. - Burlington Coat Factory plans to open a 68,000 sq. ft. store at Security Square Mall in Woodlawn. When the store opens this fall, it will be the sixth anchor at the 1.2 million sq. ft. center. Other anchors include JCPenney Outlet Store, Hecht's, Wards, Sears and Old Navy, which also is opening this fall. Chevy Chase, Md.-based Capitol Real Estate Services owns the mall.
Maryville, Tenn. - J.D. Kinder Furniture will open an 80,000 sq. ft. store this fall at Foothills Plaza in Maryville. The Atlanta-based furniture retailer acquired the former location of Hill's Department Store in the spring. Foothills Plaza is anchored by Carmike Cinemas and Dollar General. Chattanooga, Tenn.-based CBL & Associates Properties Inc. owns and manages the 175,000 sq. ft. center.