Upscale retail complex in Chicago set to open this month A 217,000 sq. ft. retail building under construction on North Michigan Avenue's Magnificent Mile in Chicago is scheduled to open its first store this month. Thomas J. Klutznick Co., Chicago, is the developer and co-owner of the project with McDonald's Corp. Elkus/Manfredi Architects Ltd., Boston, is the project's architect. Some of the development's tenants will include Tiffany & Co., Polo Ralph Lauren, Banana Republic, Pottery Barn and Comp-USA. The project is being built to support a future hotel tower at a later date.
Koll, Westrec Marinas to develop $50 million project at Port of L.A. WorldPort LA has selected Newport Beach, Calif.-based Koll Real Estate Group Inc. and Southern California-based Westrec Marinas as the development team for Cabrillo Way, a $50 million, 80-acre complex in Site 2 of the Port of Los Angeles' West Channel Development Area, which features a new marina and retail, recreational and nautical components. Koll and Westrec will own and operate the marina project when it's completed.
$200+ million redevelopment to nearly double Midwest mall Los Angeles-based Westfield America Inc. will nearly double the size of its 583,000 sq. ft. West County Center in Des Peres, Mo., a suburb of St. Louis. The more than $200 million project, which includes adding Nordstrom and Lord & Taylor, will add 500,000 sq. ft. to the mall; construction will begin in stages in 1999 with completion slated for 2001. It has been reported that Westfield America is asking Des Peres for more than $50 million in tax-increment financing to help complete the project.
North American Properties plans $43 million power center Atlanta-based North American Properties is planning to start construction this fall on Chesterfield MarketPlace, a $43 million power center in Richmond, Va. The center -- which has 418,000 sq. ft. of leasable space including 50,000 sq. ft. for smaller, local shops -- will be located adjacent to Chesterfield Town Center, a 1.2 million sq. ft. regional mall. The power center's contractor is Armada Hoffler Construction Co., Chesapeake, Va.; Atlanta-based Weaver & Associates is the designer. Some anchor tenants for the project include Home Depot, TJ Maxx, Linens 'N Things, Toys "R" Us and PetsMart.
Changes about to be unveiled at Aventura Mall in Florida There will be quite a few changes in the coming months at Aventura Mall in Aventura, Fla. A November opening is planned for the expanded 2.3 million sq. ft. center. A new program, called What's In Store? Computerized Shopper Information Systems, will allow customers to access information about stores, product lines, fashion and sales. The center's new advertising campaign, created by European Graphics in Pompano Beach, Fla., will reflect the mall's upscale new look and tenant mix. Some of the mall's new tenants will include a 24-screen AMC Theatres, Gymboree, Wilderness Outfitters and Origins.
Simon DeBartolo launches mall marketing subsidiary Indianapolis-based Simon DeBartolo Group Inc. has formed Simon Brand Ventures, a wholly owned subsidiary to focus on mall marketing. The Simon Brand Ventures concept is being designed to build on the company's strong customer base by creating marketing relationships with consumers and enhancing services provided to tenants.
Plans already in place include a second generation of MALLPeRKSTM, a customer loyalty program which was launched in July. Also, Simon Brand Ventures has formed marketing and technology alliances with a number of partners, including VISA, HFS, CUC, Olsten, AmeriCash, SMARTTALK Teleservices and Diebold, to promote products and services for retailers and customers.