NEW DEVELOPMENT Cary, N.C. -- Raleigh, N.C.-based Kane Realty has plans this year to develop a 500,000 sq. ft. retail project on a 55-acre site it recently acquired in Cary. The $45 million project called Centrum will be located near the intersection of Interstate 440 and Interstate 40 in the city's Crossroads submarket, which is the site of more than $350 million in retail and commercial development since 1990. Negotiations are under way for anchor tenants.
Church Street Plaza, which is being developed by Arthur Hill & Co. LLC, in Evanston, III., will feature two different types of theaters as well as a hotel, garage and senior center.
Evanston, Ill. -- Plans are in the works for Church Street Plaza, a 220,000 sq. ft. retail and entertainment complex in downtown Evanston. Northbrook, Ill.-based Arthur Hill & Co. LLC recently was chosen by the city as the developer of the project after a selection process that lasted nearly a year. Church Street Plaza will be anchored by General Cinema, which will feature first-run, general audience films, and Sundance Cinema, which will showcase a collection of independent and art films in an intimate coffee house environment. Berkeley, Calif.-based ELS/Elbasani & Logan Architects is responsible for the center's design and.
Plans for the project also include a 180-room hotel, along with a garage and senior center to be owned by the city. In addition, a Performing Arts Theatre is planned and will be sponsored by private donations. The total cost of the project including public facilities is estimated at more than $75 million.
Ribeirao Preto, Brazil --is under way on Shopping Santa Ursula, a 700,000 sq. ft. retail and entertainment center in Ribeirao Preto. The four-level project, which is being developed by Almeida Junior Emprendimentos e Participacoes Ltda., Ribeirao Preto, will feature Renner department store, high-end grocery store Supermercado Gimenes, and other local, national and international retailers. Additional components of the project include an eight-screen cinema, restaurants and a food court.
Being designed by the Dallas office of Baltimore-based RTKL Associates Inc., Shopping Santa Ursala is located on a full block in the center of the city and will feature a series of large entryways defined by canopies, extensive windows and skylights as well as landscaping and contemporary paving patterns utilizing local stone laid by hand. The food court, located on the second level, will feature a corner of glass that overlooks the streetscape and pedestrian activity below. The project is scheduled to open in April 1999.
Sterling, Ill. -- Ground recently was broken on Pine Tree Plaza, a 57,000 sq. ft. shopping center in Sterling. Anchored by a 24,049 sq. ft. Staples office superstore, the center is being built adjacent to a new 202,000 sq. ft. Wal-Mart SuperCenter. It is a development of Pine Tree Commercial Realty, L.L.C., Lake Bluff, Ill., and is expected to open by this summer.
Lenoir City, Tenn., and Bristol, Tenn./Va. -- Work is under way on 203,958 sq. ft. Franklin Centre in Lenoir City. A project of Knoxville, Tenn.-based Cullom Properties Inc., the shopping center will feature Wal-Mart SuperCenter and Goody's Family Clothing as well as several specialty shops and outparcels when it opens in late March/early April. Atlanta-based Bowen Construction Services Inc. is the general contractor for the project.
Construction also is under way on another Cullom Properties' project. State Line Centre, which straddles the Virginia-Tennessee state line in Bristol, will feature Kroger and Goody's Family Clothing as well as 6,900 sq. ft. of specialty shop space and one outparcel when the 95,310 sq. ft. center opens in June.
CENTER OPENINGS Watkinsville, Ga. -- Butler's Crossing, a 75,520 sq. ft. shopping center anchored by Publix, recently opened in Watkinsville. A project of The Sembler Co., St. Petersburg, Fla., the fully leased center also features Eckerd Drugs, Blockbuster, Hallmark, GNC, Papa John's, Hair Cuttery and McDonald's.
Alexandria, Va. -- Phase I of Potomac Yard Retail Center in Alexandria recently opened, and plans are to open the second phase this summer. The 600,000 sq. ft. power and entertainment center features Old Navy Clothing Co., HomePlace, Target, Staples, Petsmart, Barnes & Noble, The Sports Authority and Shoppers Club, all tenants in the first phase. Scheduled to open this year are T.J. Maxx, Dress Barn, Rack Room Shoes, Starbucks, The Men's Wearhouse, Hollywood Video, Hallmark, Vitamin Superstore, Don Pablo's, Canyon Cafe and Hoyt Cinemas. Potomac Yard is owned by Commonwealth Atlantic Properties, Alexandria. The Charles E. Smith Cos., Arlington, Va., is serving as the developer and construction manager of the project.
MAJOR TENANT OPENINGS Laguna Niguel, Calif. -- Sport Chalet opened recently at Marketplace at Laguna Niguel in Laguna Niguel. The 40,018 sq. ft. store joins existing tenants Wal-Mart, Mervyn's, Vons, Super Crown and Old Navy Clothing Co. Leased by the Newport Beach, Calif., office of Los Angeles-based CB Commercial Real Estate Group Inc., the 500,000 sq. ft. community center is owned by Shapell Industries, Beverly Hills.
Gurnee, Ill. -- Bass Pro Shops Outdoor World recently opened its doors at Gurnee Mills in Gurnee. The 133,000 sq. ft. store features fishing, hunting and other outdoor merchandise in an outdoor-type environment complete with waterfall, stocked fish ponds and wildlife. It is the first Bass Pro Shops store located in a shopping mall. The addition of Bass Pro Shops to Gurnee Mills, which is owned and managed by The Mills Corp., Arlington, Va., reflects a new vision for the center by combining manufacturer and retail outlets with big-box retailers and entertainment destinations.
Phillipsburg, N.J. -- Wal-Mart (128,212 sq. ft.) and Toys "R" Us (30,495 sq. ft.) recently opened at 332,000 sq. ft. Pohatcong Plaza in Phillipsburg. Two other anchors, Edwards supermarket (60,000 sq. ft.) and Regal Cinema (43,500 sq. ft.) will open in July and October, respectively. Some of the specialty tenants that are already open or planning to open are Dollar Express, Party City, Mandee, The Rag Shop, Pet Valu, Holiday Hair, Burger King, K-Nails, Frank's Pizza, Sally Beauty Supply, Ruby Tuesday and a Chinese buffet restaurant. Pohatcong Plaza is a development of Purchase, N.Y.-based National Realty & Development Corp.
Yonkers, N.Y. -- Circuit City recently joined the anchor lineup at The Mall at Cross County in Yonkers. The 46,215 sq. ft. store is part of the 265,000 sq. ft. enclosed center that is owned by Conshohocken, Pa.-based Kranzco Realty Trust. Other major tenants include The Sports Authority, Kids "R" Us, T.J. Maxx and Thriftway Drug.
EXPANSIONS Irvine, Calif. -- The masterplan for Irvine Spectrum Center in Irvine is moving forward two years earlier than anticipated. According to The Irvine Co., Newport Beach, Calif., which is developing the entertainment, dining and retail project, the ability to begin marketing a 500,000 sq. ft. third phase focusing on retail is based on current market demand and projected growth. The retail phase, which will bring the center's size to 1 million sq. ft., is expected to be completed in the summer of 2000. Its design will be a continuation of the Alhambra setting used for the second phase of the entertainment portion of the center. Phase II, which is scheduled to open in July, is anchored by Dave & Buster's and The Cheesecake Factory. The center is managed by Larkspur, Calif.-based Hollis & Associates Inc.
RENOVATIONS Union City, Ga. -- Plans are in the works for a major renovation and expansion of Shannon Crossing Shopping Center in Union City, a southern suburb of Atlanta. The project, which is scheduled for completion later this year, will include remodeling and expanding the existing Kroger grocery store to a new, 60,000 sq. ft. superstore; the renovation of existing shops; and the construction of approximately 15,000 sq. ft. of new space. Shannon Crossing is owned by Glenborough Fund I, a San Mateo, Calif.-based real estate investment trust. Atlanta-based Maxwell Properties is the development manager for the owner and will oversee all renovation and expansion activities. Takoma Park, Md. -- Bethesda, Md.-based First Washington Realty Trust Inc. recently completed renovation work at Takoma Park Shopping Center in Takoma Park. The project included new architectural elements and colors, new signage, repaving and painting of the parking lot, improved lighting, and new landscaping. In addition, anchor Shoppers Food Warehouse was expanded to 64,000 sq. ft., increasing the center's size to 105,000 sq. ft.