Retail Traffic

Development Digest

Redevelopment Schaumburg, Ill. -- Mid-America Real Estate Group, Oakbrook Terrace, Ill., is leading an effort to redevelop One Schaumburg Place into The New E Zone, a retail and entertainment complex. Mid-America was named exclusive management/leasing representative of the suburban Chicago center in 1995 after a series of tenant bankruptcies and other miscues. The new entertainment-plus-retail identity for the center positionsit at "its highest and best use," explains Mid-America's Richard Spinell.

Among the new tenants secured for the recently demalled, 575,000 sq. ft. center are Gaylan's Trading Co. (170,000 sq. ft.) and Maggiano's Little Italy restaurant. Negotiations are ongoing for a 16-screen theater complex.

Represented by Mid-America, Chicago-based Bank of America recently sold One Schaumburg Place to McCaffery Development, Chicago and CCR Partnership, San Antonio, Texas.

Chicago -- Construction for the redevelopment of Citicorp Center's retail atrium is under way. The project, which includes the first two floors of the 1.4 million sq. ft. building in Chicago, is being directed by Landau & Heyman. The Chicago-based firm was retained by Stanford, Conn.-based G.E. Investments to develop and lease the 65,000 sq. ft. retail space, which contains both retail shops and a food court and serves as the entrance to the city's busiest METRA train station. Citicorp Center is owned by Stanford, Conn.-based General Electric Pension Trust.

Drawing inspiration from the Art Deco details in the building's Helmut Jahn-design architecture, the Atlanta-based architectural firm Cooper Carry & Associates will design the new, brighter interiors.

Phase one construction includes a food court expansion, adding more seating and vendors. A mid-December completion is anticipated. In phase two, the common areas, lighting and signage will be upgraded. This phase should be complete by early 1998.

Jacksonville, Fla. -- Redevelopment plans at Roosevelt Mall in Jacksonville call for demalling the property to create a $26 million, 317,000 sq. ft., open-air, multi-building shopping center to be known as Roosevelt Square. A summer 1998 opening is slated for the first phase of redeveloped center, which is owned by Dewberry Capital Corp., Atlanta.

The first phase, to comprise more than 231,000 sq. ft., will entail demolishing the mall common areas and constructing a 51,420 sq. ft. Publix supermarket as well as other retail shops. The initial phase also will include an exterior renovation of the existing Gayfers department store, which will include the addition of Gayfers Home Store.

NationsBank, Charlotte, is providing construction financing. Hiscutt & Bell Inc., Atlanta and Mark Dowst Associates, Ormond, Fla., designed the project, and Keene Construction, Orlando, Fla., is the general contractor.

Renovations Altoona, Pa. -- Grand re-opening festivities were held recently at Logan Valley Mall in Altoona. The celebration marked the completion of nearly three years of construction that began shortly after a fire destroyed a portion of the mall one week before Christmas in 1994.

Since then, the mall has been completely renovated and expanded in a three-phase construction project. During the third stage, approximately 40 new mall shops opened. Owned and managed by Johnstown, Pa.-based Crown American Realty Trust. Logan Valley Mall opened in 1963 and features Sears, JCPenney and Kaufmann's.

Springfield, Mass. -- The renovation of 425,000 sq. ft. Springfield Plaza in Springfield has begun. A new facade and store front lighting are the main components of the facelift. In addition, the parking lot will be resurfaced and reconfigured.

In conjunction with the renovation, East Coast Market Place (30,300 sq. ft.) will be joining the center, and Hollywood Video will occupy one of the three outparcel sites being added to the property. Springfield Plaza is owned by Charter Realty & Development Corp., Greenwich, Conn., and Weingarten Properties Inc., Ardmore, Pa.

Expansions Las Vegas -- Just before Labor Day, ribbon-cutting ceremonies were held for the expansion of The Forum Shops at Caesars Palace in Las Vegas. The 276,000 sq. ft. expansion area, which doubles the size of the project, houses two restaurants (The Cheesecake Factory and Chinois) and 35 new stores, including Virgin Megastore, Fendi, Polo, NikeTown, Bath & Body Works, Bernini Sport, Max Mara, Emporio Armani, Guess Kids, Lalique, Rampage and the world's largest FAO Schwarz. The Forum Shops is leased and managed bySimon DeBartolo Group Inc., Indianapolis, and is a joint development of Simon and Gordon Group Holdings, Los Angeles.

The centerpiece of the new addition is a Roman Great Hall, 160 feet in diameter and 85 feet high. Shoppers will be entertained by "Atlantis," an attraction where life-like animatronic figures enact the mythical tale of Atlantis. A 50,000-gallon, salt water aquarium featuring rare and exotic fish from around the world in concert with special effects contribute to the new entertainment feature.

Marnell Corrao Associates, Las Vegas, architect and general contractor of phase I, also is the general contractor for phase II. Dougall Design Associates of Los Angeles created the interior design for phase II as it did in phase I.

Beachwood, Ohio -- The grand opening for the more than $80 million expansion of Beachwood Place -- which includes Ohio's first Nordstrom department store -- took place Sept. 19. Beachwood Place, which opened in 1978, is owned and managed by an affiliate of The Rouse Co., Columbia, Md.

The 365,000 sq. ft. expansion features more than 40 retailers, including many newcomers to the Northern Ohio market: Pottery Barn, BCBG, The Complete Eddie Bauer, Origins, Nine West Collection, Crabtree & Evelyn at Home, Clark's, Colorado Pen Company, Learningsmith, Field of Dreams, Golf America, Jordan Marie, Bachrach, Eyeworld/Sportsvision, Everything But Water, Guess, Papyrus, and Children's Place.

Additionally, existing anchors Dillard's and Saks Fifth Avenue have expanded their stores. Several other tenants also have made substantial investments in their Beachwood Mall stores as a result of expansion or relocation activities. The mall now totals 918,000 sq. ft.

To ensure a seamless transition between the new wing and the existing area, the flooring has been replaced with French marble tile, the banisters were refurbished and "conversation" areas were created throughout the center. Entrances got a facelift, more than $800,000 was invested in exterior landscaping, and a parking garage with more than 1,500 parking spaces was added. The architect is RTKL Associates, Baltimore, and the general contractor is The Lathrop Co., Toledo, Ohio.

New development Johnson Creek, Wis. -- Construction has begun for Johnson Creek Factory Outlets in Johnson Creek, which is located midway between Milwaukee and Madison (the state capital and home of the University of Wisconsin). The 170,000 sq. ft. outlet center, being developed by JMJ Properties, Muskegon, Mich., is expected to house 44 tenants and open in early September 1998.

Among the tenants slated to open are: Tommy Hilfiger, The Gap Outlet, Nautica, Fila, Eddie Bauer, Carter's Childrenswear, Nine West, Springmaid-Wamsutta, Big Dog Sportswear, Westport Ltd./Westport Woman, Paper Factory and Corning.

Long Beach, Calif. -- Ground has been broken for Long Beach Towne Center, a $70 million, 1.1 million sq. ft. retail/entertainment project in Long Beach, Calif. Located on the site of the former Long Beach Navy Hospital, the center is a development of Vestar Development Corp., Phoenix.

Upon its scheduled opening in fall 1998, the project will include an outdoor entertainment plaza anchored by a 26-screen Edwards Theater complex, a 500-seat outdoor/indoor dining area, retail shops, a grand fountain, and parking for more than 4,700 cars. The complex has been designed by Perkowitz + Ruth Architects Inc., Long Beach.

Richmond, Va. -- This fall, North American Properties--Atlanta expects to start construction on Chesterfield MarketPlace in Richmond. The $43 million, 10-anchor power center will be located at the intersection of Midlothian Turnpike and Research Road, adjacent to Chesterfield Town Center. The developer reports leasing commitments for more than 75 percent of the 418,000 sq. ft. of leaseable space. Among those commitments are leases from: Home Depot, T.J. Maxx, Linens 'N Things, Toys "R" Us, Kids "R" Us and PetsMart.

North American Properties--Atlanta, which specializes in retail development, is an affiliate of North American Properties Inc., Cincinnati. Armada Hoffler Construction Co., Chesapeake, Va., is the general contractor. The center was designed by Weaver & Associates, Atlanta.

Center openings Louisville, Ky. -- The first phase of 800,000 sq. ft. Springhurst Towne Center in Louisville recently opened. The power center, owned and managed by Chattanooga, Tenn.-based CBL & Associates Properties Inc., is anchored by Target, Kohl's department store, Party Source and Kitchen & Company with approximately 36,000 sq. ft. of small shop space.

Other stores under construction at the center include: Meijers (opening March 1998); Cinemark (opening October 1997); T.J. Maxx (opening November 1997); Old Navy Clothing Co. (opening November 1997); and Books-A-Million (opening late 1997).

Spokane, Wash. -- Spokane Valley Mall, which is located on an 85-acre parcel at Interstate 90 in the eastern valley of Spokane, recently celebrated its grand opening. The 750,000 sq. ft. first phase of the two-level mall is anchored by JCPenney, Sears and The Bon Marche. A 40,000 sq. ft., 12-screen ACT III theater complex, 275,000 sq. ft. of mall retail space and seven outparcels complete the leaseable area in phase one. The mall is owned and managed by JP Realty Inc., Salt Lake City.

Westbury, N.Y. -- Anchored by a Fortunoff flagship store, The Source opened in Westbury, Long Island on Sept. 5. The 700,000 sq. ft., enclosed, two-level mall, which is owned and managed by Simon DeBartolo Group Inc., Indianapolis, combines off-price retailers with major restaurant and entertainment tenants.

Among the major tenants are Virgin Megastore, GameWorks, Circuit City, Nordstrom Rack, Off 5th -- Saks Fifth Avenue, Loehmann's, Old Navy Clothing Co., Just For Feet, Cosmetics Plus, Daniel Foxx, Maximus Salon & Spa, Baby Fortunoff, Educational Warehouse, French Wine Merchant, The Great Train Store, and Innovation Luggage.

Restaurant tenants include Rainforest Cafe, Bertolini's, The Cheesecake Factory and Brooklyn Diner.

Handling construction services were New York-based Turner Construction (mall/site work) and Leetsdale, Pa.-based Mulach Parking Systems (parking structure). RTKL Associates, Baltimore, designed the mall.

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