Mixed-use complex planned for downtown Macy's site
Valhalla, N.Y.-based Cappelli Enterprises Inc. has plans to develop a $250 million retail, entertainment and residential complex on the former Macy's site in downtown White Plains, N.Y. The company purchased the 7.2-acre site from New York-based Tishman Speyer Properties for $17 million.
White Plains City Center will include approximately 530,000 sq. ft. of retail stores, restaurants, an 18-screen movie theater and a community theater. In addition, the project will include luxury rental apartments and parking garages for both public and private use. Upon completion, the entire development will be more than 1 million sq. ft., encompassing a whole city block of White Plains.
A Target store is anticipated to occupy the first level of the new development as well as other well-known retailers, including clothing, book and music stores, according to a Cappelli spokesperson. The first-level stores will have direct open access to surrounding streets to encourage pedestrian traffic and interaction with the city's downtown area.
Demolition of the old Macy's store is scheduled to begin shortly, and construction of the new project will follow immediately. The overall project is expected to take 18 months to complete.
Nordstrom expands market in Lone Star State capital
Indianapolis-based Simon Property Group Inc. has received a signed letter of intent from Seattle-based Nordstrom to become the sixth anchor at Barton Creek Square Mall in Austin, Texas. Nordstrom will occupy a 145,000 sq. ft., two-level store, which is a former Montgomery Ward location. The new store will join existing anchors Sears, Foley's, JCPenney and two Dillard's stores.
The addition of approximately 40,000 sq. ft. of small shop space on two levels is also planned concurrently with construction of the Nordstrom store, which is slated for completion in the fall of 2003. The addition of the high-end retailer is part of the mall's ongoing redevelopment plans.
HIGroup arranges sale of Nashville regional mall
Chicago-based HIGroup LLC has arranged the sale of The Mall at Green Hills, located in Nashville, Tenn. The mall was purchased by a partnership consisting of Evanston, Ill.-based Davis Street Land Co. and New York-based Verizon, a domestic pension fund. The seller was Green Hills Associates, Nashville, Tenn.
Opened in 1982, the two-level enclosed regional mall contains 643,000 sq. ft. of space and is situated on approximately 30 acres. The mall is currently anchored by Dillard's and Hecht's.
QVC store set to make debut at Mall of America
QVC @ The Mall, a subsidiary of West Chester, Pa.-based QVC Inc., has plans to open a flagship store with broadcasting capabilities at Mall of America in Bloomington, Minn.
QVC @ The Mall experimented with the store concept by testing a 500 sq. ft. temporary space with a limited-term lease. Based on the success of the test, a new 2,500 sq. ft. store is under construction next to Mall of America's Sam Goody Central.
QVC Inc. has signed a 10-year sponsorship agreement with the 4.2 million sq. ft. mall, which is the nation's largest retail and entertainment complex. QVC will be the official interactive commerce partner of the mall.
QVC @ The Mall will offer its customers the opportunity to see, touch and purchase much of the same merchandise that can be acquired through QVC's television network or from its e-commerce Web site, iQVC.com. With broadcasting studios integrated into the store design, QVC @ The Mall will produce live television shows directly from the retail location. Shows produced from QVC @ The Mall will be broadcast over QVC.
Projected Mall Openings in 2001
|Center||Developer||GLA (000 S.F.)||Metro Area|
|The Shops at Willow Bend||Taubman Centers||1,500||Plano, TX|
|Polaris Fashion Place||Glimcher Realty Trust||1,500||Columbus, OH|
|Dolphin Mall||Taubman Centers/Swerdlow Real Estate Group||1,400||Miami, FL|
|Discover Mills||The Mills Corporation||1,300||Duluth, GA|
|The Mall at Wellinton Green||Taubman Centers||1,300||Wellington, FL|
|Chandler Fashion Center||Westcor Partners||1,300||Chandler, AZ|
|International Plaza||Taubman Centers||1,260||Tampa, FL|
|Robinson Town Centre||Forest City Enterprises||1,200||Pittsburgh, PA|
|The Mall at Stonecrest||Forest City Enterprises/Cadillac Fairview||1,100||Atlanta, GA|
|The Lakes Mall||CBL & Associates||700||Muskegon, MI|
|Paseo Colorado||TrizecHahn||560||Pasadena, CA|
|Source: International Council of Shopping Centers|
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