The Carlyle Group and Cypress Equities Cos. will develop Market Street Place, a 250,000-sq.-ft. retail center on a one-acre site on Market Street in San Francisco. The firms plan to break ground for the project in the fall of 2012, with the grand opening scheduled for the first quarter of 2015.
The six-level urban redevelopment project, located on a site formerly known as CityPlace, will feature an exterior façade of translucent glass and up to 270 feet of frontage.
Cypress Equities will develop the center, while the Carlyle Group will be the lead equity partner.
“This desirable location, just steps from public transportation, provides destination retail options for shoppers in the heart of San Francisco,” said Paul Brady, managing director of The Carlyle Group, in a statement. “We are pleased to again team with Cypress Equities, which has a successful track record in retail development and project management.”
SRS Real Estate Partners will serve as the retail leasing representative for Market Street Place.
Howard Hughes Corp. to Add Phase II to Ward Village Shops in Hawaii
The Howard Hughes Corp. will develop phase II of Ward Village Shops in Honolulu, Hawaii. The center will encompass 57,000 sq. ft. of retail space. Opening is scheduled for the fall of 2013.
Englewood Construction Announces a Slew of New Projects
Englewood Construction started work on 10 new retail and restaurant projects.
The projects include open interior remodeling for three Red Lobster locations in Indiana, interior build-out and interior remodel for Noodles & Co. in Duluth, Minn. and Madison, Wis., an interior build-out for A Pea in the Pod inand an interior build-out for Destination Maternity in Seattle, and two interior build-outs for Wet Seal in Sale, New Hampshire and Lawrenceville, N.J.
Green Dry Cleaner Expands in New York City
DashLocker, a 24/7 green dry cleaner, will open three new stores in New York City by late fall of 2012. The new locations will include 1733 First Ave., 1436 Lexington Ave. and 220 East 78th St.
Jay Gilbert, of Newmark Grubb Knight Frank Retail, negotiated these transactions. DashLocker is currently in negotiations for additional locations throughout the city. In June, it opened its flagship store at 1566 Second Ave.
ICSC appointed Bill Rose as its Western division operation chair for a one-year term beginning in April 2012. In his new position he will represent the interests of retail property owners, developers, investors, marketers and other specialists across the Western region of United States. Rose serves as director of the national retail group with Marcus & Millichap.
Planet Fitness opened a 17,380-sq.-ft. facility in Capitol Plaza in Ewing, N.J. Levin Management serves as the leasing and management agent for the property.
Eidco Construction completed a 4,700-sq.-ft. interior fit-out for rue21 at Westgate Mall in Baxter, Minn. The project involved the construction of a new storefront and interior partitions, electrical and lighting installation, the addition of a new washroom and polished concrete floor and the installation of graphics, displays and signage.
Rite Aid Corp. signed long-term lease renewals with Muss Development LLC at Broadway Shopping Center and Jackson Heights Shopping Center in Queens, N.Y. The Broadway Shopping Center lease is for 6,200 sq. ft. The Jackson Heights lease is for 10,645 sq. ft.
FITCH hired Rick Redpath as grocery studio director. In his new position, he will oversee day-to-day operations and quality for all of the firm’s grocery projects. He will be joined by 13 new associates. Previously, Redpath served as managing principal with Nadel Architects’ Phoenix office. He has 30 years of experience in managing grocery-focused projects.
The Mills, a Simon company, appointed Deborah Celaya as director of marketing and business development for Colorado Mills in Lakewood, Colo. In her new position, she will be responsible for strategic marketing, business development, public relations, tenant relations, guest services and tourism. Previously, Celaya served in a senior executive position with Race Partners LLC.
CB Richard Ellis of Virginia Inc. hired Thomas Pinckney Bryan IV as a junior associate with its retail leasing team in the Richmond office. Bryan has more than five years of experience in commercial real estate. Previously, he served as assistant property manager with SJG Properties.