Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
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DEVELOPMENT NEWS 36 • SHOPPING CENTER BUSINESS • December 2017 ATLANTA, GEORGIA NEW FOOD HALL TO OPEN AT CODA DEVELOPMENT IN MIDTOWN'S TECH SQUARE The Collective, a new food hall concept, is set to join the forthcoming Coda development in Midtown Atlanta's Tech Square. The Collective will include eight to 10 eateries with communal seating areas opening up into a 20,000-square- foot outdoor space. The historic three- story Crum & Forster building located on the property will serve as an 8,000-square- foot, full-service restaurant with patio seating that will transition to the outdoor space. In addition to several prospective dining options, preliminary plans include a full-service central bar that will enable patrons to take advantage of open carry that will be permitted at Coda. Under development by Portman Holdings, Coda will feature 645,000 square feet of office space, an 80,000-square-foot data center, 30,000 square feet of street- level retail and the new food hall upon completion. Adrienne Crawford and Lily Heimburger of SRS Real Estate Partners are spearheading restaurant leasing for The Collective at Coda, which will open in February 2019. FORT WORTH, TEXAS HILLWOOD BREAKS GROUND ON 3.5-ACRE DINING, ENTERTAINMENT DESTINATION Hillwood has broken ground on Parkside at Alliance Town Center, a 3.5-acre dining and entertainment destination that will be located within the 900-acre AllianceTexas development in Fort Worth. Upon completion, the property will feature a live music stage and space for outdoor games. Two restaurants, Grub Burger Park and Shell Shack, have committed to operating within the site, with more to come. Construction for the Grub Burger Park and Shell Shack locations will be complete by summer 2018. ALTOONA, IOWA OUTLETS OF DES MOINES OPENS New England Development has opened Outlets of Des Moines in Altoona. The region's first outlet center features retailers such as ASICS, Nike Factory Store, Express Factory Store, francesca's, LOFT Outlet, Converse, Tommy Hilfiger, Under Armour, Vera Bradley, Levi's, Brooks Brothers and Le Creuset. A ribbon-cutting ceremony took place on Oct. 20. The construction phase created about 500 jobs, and the outlet center is expected to generate an additional 800 jobs, according to New England Development. The development is expected to generate about $100 million in annual retail sales. VISTA, CALIFORNIA RETAIL INSITE SIGNS TWO TENANTS TO REDEVELOPMENT PROJECT Retail Insite has inked deals with two tenants at Vista Terrace Marketplace, a retail redevelopment project in Vista, California, 40 miles north of San Diego. Brian Pyke and Don Moser of Retail In- site signed a 15-year lease with Sprouts Farmers Market, which will anchor the development, and a 20-year lease with Dunkin' Donuts. Black Lion Investment Group, the project developer, acquired the existing 48,000-square-foot retail center and an adjacent, 2.5-acre parcel of land in 2016 with plans to reposition the property. The redevelopment will reface inline and end cap shop space, create restaurant-ready suites with patios and build the Sprouts anchor building on the 2.5-acre land parcel. The first phase of Vista Terrace Marketplace is slated for completion in early 2018, and Sprouts is expected to open in the fourth quarter of 2018. DALLAS, TEXAS OAXACA INTERESTS TO DEVELOP THREE NEW RETAIL BUILDINGS AT SYLVAN | THIRTY Oaxaca Interests plans to develop three new retail buildings at a mixed- use development in West Dallas. Each building will span 3,500 square feet. Oaxaca will also demolish an existing drive-thru bank, reconfigure the parking lot and update the exterior of the existing office building at Sylvan Thirty. The design team includes architect Lake Flato and landscape architect Hocker Design Group. Sylvan Thirty's existing retail space is more than 75 percent leased to tenants such as TacoDeli, Cibodivino, Whisk Crepes, Houndstooth Coffee, Pink Pedi, Cox Farms Market, Sync Yoga & Wellbeing, Betty Ringer, Craft & Co. Salon, Vernacular and Arnold Brothers Dry Cleaner. Ten. Cooper's Meat Market is anticipated to open next month. Oaxaca Interests plans to break ground on the three retail buildings in early 2018. The Collective at Coda in Midtown Atlanta's Tech Square will include eight to 10 eateries with communal seating areas opening up into a 20,000-square-foot outdoor space.