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Taubman Breaks Ground for 450,000-SF Outlet Center in Missouri

Taubman Centers Inc. broke ground for Taubman Prestige Outlets Chesterfield, a 450,000-sq.-ft. open-air shopping center in Chesterfield, Mo. The developer plans to open the property in the fall of 2013.

When completed, Taubman Prestige Outlets Chesterfield will contain more than 100 stores and will include such features as dog-friendly hospitality, access to a levee-fitness trail and a food court. Taubman estimates that it will create 750 construction jobs and 1,200 permanent jobs.

“Taubman Prestige Outlets Chesterfield will provide one of the most distinct outlet shopping experiences in the nation,” said Taumban COO William Taubman in a statement. “Over the last year we’ve garnered all required approvals, from city, county and state agencies to the Monarch-Chesterfield Levee District, FEMA and the Army Corps of Engineers and we are pleased to have these specific approvals required for groundbreaking. We will be the dominant outlet shopping destination in the region, bringing the best of the world’s outlet fashion retailers to a discerning public in a beautifully designed center worthy of this city.”

Village at Playa Vista to Get 200,000 SF Retail Center

Lincoln Property Co., Phoenix Property Co. and Paragon Commercial Group will develop Runway at Playa Vista, a mixed-use community combining 420 apartment units, a 200,000-sq.-ft. shopping center and 25,000 sq. ft. of office space.

The project will be part of the 111-acre Village at Playa Vista development owned by Playa Capital Co. Including Runway, The Village at Playa Vista will contain 2,600 apartment units, 200 units of senior/assisted living housing, 50,000 sq. ft. of office space, 40,000 sq. ft. of community space and almost 24 acres of parks and open space. All of The Village’s retail space will be contained in the Runway.

“The Village completes the vision of Playa Vista as one of the nation’s most innovative, smart growth communities,” said Playa Capital Co. Co-President Patti Sinclair in a statement. “We are following through on our commitment to move forward with the retail center first, and we couldn’t be more pleased to work with the outstanding Runway team.”

New York City Picks Equity One to Redevelop Retail Site in the Bronx

New York City Economic Development Corp. appointed Equity One Inc. to redevelop an 80,000-sq.-ft. site along the Broadway retail corridor in the Bronx into a $54 million, 133,000-sq.-ft. multi-tenant retail center. The project will create approximately 250 new full-time and party-time jobs and 500 construction jobs.

Equity One plans to purchase the site from the City for $7.5 million and to start construction in early 2013. Completion is scheduled for some time in 2015. The company will aim to secure a silver LEED rating for the project.

CBL Appoints New Legal Chief

CBL & Associates Properties Inc. appointed Jeff Curry as chief legal officer. In his new position, he will oversee all of the company’s legal services, including real estate, corporate, securities and tax. Curry has been serving as CBL’s interim chief legal officer since February 2012. He has been an external legal advisor to the company since 1986. Prior to joining CBL full time, he worked as a partner with Husch Blackwell LLP.

Saks Fifth Avenue OFF 5TH to Anchor Simon Outlet Centers in Arizona, Missouri

Saks Fifth Avenue OFF 5TH agreed to anchor two outlet centers currently being developed by Simon Property Group’s Premium Outlets division: Phoenix Premium Outlets and St. Louis Premium Outlets.

Simon plans to open Phoenix Premium Outlets, a 360,000-sq.-ft. center in Chandler, Ariz., in the spring of 2013.

St. Louis Premium Outlets, a joint venture project between Simon, Woodmont Outlets and EWB Development LLC, will contain approximately 350,000 sq. ft. of space in its Phase I and will open in the fall of 2013.

“Saks Fifth Avenue OFF 5TH exemplifies the type of high quality shopping experience we seek for our discerning outlet customers,” said President of Simon’s Premium Outlets division John R. Klein in a statement. “We are pleased to welcome OFF 5TH to these two new projects.”

Other Notable News

Douglas Development signed leases with two new retailers for space at 950 F Street in Washington, D.C. J.Crew agreed to occupy 8,625 sq. ft. of space at the property. The Art of SpYn agreed to take 5,272 sq. ft. The retailers plan to open their new locations later this year.

James S. Cownie will retire from The Macerich Co.’s board of directors effective as of its annual stockholders’ meeting for 2012. Cownie has been a member of the REIT’s board of directors for 18 years and has served on its compensation committee, its audit committee and its nominating and corporate governance committees.

SRS Real Estate Partners hired Susan Riddle and Kelly Anderson as marketing coordinators. They will be responsible for broker transaction support, identity building and lead generation initiatives. Riddle previously worked as a marketing coordinator/executive assistant to the managing partner at Rowland Constructors. Anderson worked as an independent contractor for Allstate Insurance at Pilot Catastrophe.

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