Construction has begun on Torrey Highlands Village Center, a 90,000 square foot retail center designed by SGPAAnd Planning for McMillin Commercial, a Corky McMillin Co. The neighborhood center is part of the City of San Diego's North City Future Urbanizing Area Plan, which will include new retail, residential apartments and parks.
SuperTarget will anchor three new North American Properties centers totaling 1.4 million square feet, opening in the spring and summer of 2005. The stores will be located at the Lakeside MarketPlace in North Cobb County, Ga.; Orlando, Fla.'s MarketPlace at Seminole Towne Center, and the Brookwood MarketPlace in South Forsyth County, Ga.
Wal-Mart is inching closer to Manhattan. Wal-Mart and SAM'S Club recently signed a lease with Hartz Mountain Industries to build two stores in 4 million-square-foot Harmon Meadow, a mixed-use development in Secaucus, N.J., three miles from Manhattan. Wal-Mart's 156,000-square-foot space and SAM'S 162,000 square foot space are scheduled to be completed next fall.
General Growth Properties paid $550 million for three retail properties. Glenbrook Square, purchased from L&H Real Estate Group, is a 1.2 million square foot center in Fort Wayne, Ind., anchored by JCPenney, L.S. Ayers and Sears. Maine Mall, purchased from Cigna, New York State Teachers' Retirement System and S.R. Weiner & Associates, is a 1.1 million square foot center anchored by Best Buy and Linens N Things. Sikes Center, bought from Coyote Management, is a 667,000 square foot center, anchored by Dillard's and JCPenney.
Cindy Huang, vice president of retail leasing at Indianapolis, Ind.-based Duke Realty Corp., was promoted to senior vice president. Huang, who joined the firm in 1996 as a corporate attorney, will now oversee the marketing, leasing and development ventures of the company's prime locations in, Cincinnati and Indianapolis.
Donahue Schriber, a private REIT based in Costa Mesa, Calif., hired Charles Hickcox as vice president to head acquisitions and development activities in Arizona. Hickcox was executive vice president of Denro Inc. of Phoenix. A former captain of the 1968 U.S. Olympics men's swimming team, Hickcox also practiced law at two Phoenix law firms, Gallagher & Kennedy and Maupin & Wilson.
GSP/Rifkind Capital Advisors secured a $14.8 million bridge loan to expand the landmark House of Blues and help obtain re-entitlements for the land surrounding the famous concert venue in Hollywood, Calif. RCB Holdings and Gold Mountain Enterprises, the companies that own the property, will redevelop several hundred apartments and 44,000 square foot of retail space on Sunset Blvd.