EHB Cos. will develop Las Vegas Renaissance, a 700,000-sq.-ft. enclosed mall in West Las Vegas. EHB plans to break ground for the project in 2013 and open the property in time for the 2015 holiday shopping season.
Las Vegas Renaissance will be designed using Europeanstyle, inspired by the Galleria Vittorio Emanuele in Milan, Italy. It will feature canopied pedestrian corridors with arched glass ceilings and massive glass domes at corridor junctures.
Las Vegas Renaissance will be located next to Tivoli Village, another EHB. “As we continue to build upon Tivoli Village’s unique offerings, we look to the future of West Las Vegas as a prominent retail destination,” said EHB Chairman and CEO Yohan Lowie in a statement.
“Renaissance will provide the community with a distinctive enclosed lifestyle shopping center away from the bustling Strip. The combination of Tivoli Village, Renaissance and Boca Park retail areas will define this corridor as the shopping, entertainment, restaurant and office destination of West Las Vegas.”
CBL to Renovate Four Malls
CBL & Associates Properties Inc. will complete a multi-million dollar renovation program at four of its malls, including Cross Creek Mall in Fayetteville, N.C., Post Oak Mall in College Station, Texas, Turtle Creek Mall in Hattiesburg, Miss., and Mall del Norte in Laredo, Texas. The renovations are scheduled to be completed before the end of the year.
At Cross Creek Mall, CBL will undertake contemporaryimprovements, including updated entrances, new paint, new interior décor and graphics, upgraded restrooms and amenities and new landscaping. At Turtle Creek Mall, renovations will include new carpet and tile throughout, new paint, lighting, restroom upgrades and landscaping improvements. Post Oak Mall will get new flooring and new paint, as well as new soft seating areas, updated entrances and lighting. At Mall del Norte, CBL will complete upgrades started in 2007. In addition, CBL will redesign the food courts at Cross Creek Mall, Turtle Creek Mall and Post Oak Mall.
Vestar to Manage Christown Spectrum Mall in Arizona
Coventry Real Estate Partners appointed Vestar as property manager for Christown Spectrum Mall, a 1.145-million-sq.-ft. retail center in Phoenix. Christown Spectrum Mall is currently 92 percent leased. Tenants at the property include Walmart, Target, Costco, J. C. Penney, Ross Dress for Less and PetSmart.
Simon Will Reopen Nashville’s Opry Mills
Simon Property Group will reopen Opry Mills in Nashville, Tenn on March 29. The center will feature outlet locations for Coach Mens, Cole Haan, Converse, DKNY, Guess, Merrell, Michael Kors, Polo Ralph Lauren, New York & Co., Not Your Daughter’s Jeans, Very Bradley and Zumiez. Anchors Regal Cinemas Opry Mills Stadium 20 & IMAX, Dave & Buster’s, VF Outlet, Bass Pro Shops and Sun & Ski Sport opened in time for the 2011 holiday shopping season.
Several New Retailers Sign Leases at Minneapolis—Galleria
Arhaus signed a lease to open a 15,000-sq.-ft. store at Minneapolis—Galleria in Edina, Minn. In addition, Marmi signed a lease for a 1,980-sq.-ft. store and Allure Intimate Apparel signed a lease for a 1,800-sq.-ft. store.
The Tile Shop Opens King of Prussia Location
The Tile Shop signed a lease for a 25,522-sq.-ft. store in King of Prussia, Pa. The store will occupy a former Levitz Furniture space. Joe Dougherty, of Metro Commercial, represented the tenant in the transaction. Great Street Realty Partners also served as a broker in the.
Other Notable News
Youngworld signed a 15-year lease with Jenel Management for a 30,000-sq.-ft. store at 37-30 Junction Blvd. in Queens, N.Y. The retailer’s previous location, a 20,000-sq.-ft. store at 37-80 Junction Blvd., has been leased to Duane Reade.
Grubb & Ellis appointed Alfred W. Schwacke as senior vice president in its Philadelphia office. In his new position, he will focus on institutional investment sales. Schwacke has 40 years of experience in commercial real estate. He previously worked for Grubb & Ellis in the mid-1980s and early 1990s.
Agree Realty promoted Geoff Linden to vice president of acquisitions. In his new position, he will be responsible for sourcing, analyzing and underwriting acquisition opportunities, as well as assisting with evaluating tenant creditworthiness, portfolio allocation and strategic acquisition initiatives. Linden joined Agree Realty in July 2008. Prior to that, he served as senior acquisitions analyst with Fortress Investment Group.