Shopping Center Business

OCT 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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DEVELOPMENT NEWS 34 • SHOPPING CENTER BUSINESS • October 2018 CHICAGO, ILLINOIS EQ OFFICE UNVEILS PLANS FOR DINING, RETAIL DESTINATION AT WILLIS TOWER EQ Office, the office portfolio company owned by Blackstone's real estate funds, has unveiled plans for Catalog, a five- story dining, retail and entertainment destination located at the base of Willis Tower in downtown Chicago. Food hall operator Urbanspace will anchor Catalog's food and beverage offerings, occupying more than 14,000 square feet and making the company one of the largest retailers in the building. The name Catalog is a nod to the Sears Roebuck & Co., which developed and opened Willis Tower in 1973. Architecture firm Gensler is designing the space, which is scheduled to open in mid-2020. Willis Tower is set to undergo $500 million in renovations, plans for which include more than 300,000 square feet of new retail, dining and entertainment space. Tenants pre- leased to the space include Shake Shack, Sweetgreen, Luke's Lobster and Taylor Gourmet. RICHMOND, VIRGINIA SURGE TRAMPOLINE, PANERA BREAD TO OPEN AT REGENCY MALL IN VIRGINIA Surge Trampoline and Panera Bread are set to open at Regency Mall in Richmond as part of the property's ongoing redevelopment. Surge Trampoline will open a 40,000-square-foot location on the top floors of the former Macy's. The venue will be located along the newly redesigned and signalized Quioccasin Road entrance, and will be close to other recently announced tenants including Starbucks Coffee, Chipotle Mexican Grill and MOD Pizza. In addition, Panera Bread signed a lease for 4,500 square feet at one of the property's outparcels. Connie Jordan Nielsen, Nicki Jassy and Pam Strieffler of Cushman & Wakefield | Thalhimer represented the landlord in both leasing transactions. Nielsen of Cushman & Wakefield | Thalhimer also represented Panera Bread. The name of the owner was not disclosed, but according to the Richmond Times- Dispatch, The Rebkee Co. and Thalhimer Realty Partners acquired Regency Mall in 2015. IRVINE, CALIFORNIA IRVINE CO. COMPLETES $200 MILLION RENOVATION, EXPANSION OF IRVINE SPECTRUM CENTER IN CALIFORNIA Irvine Co. Retail Properties has completed a $200 million renovation at Irvine Spectrum Center, a shopping center located in the Southern California community of Irvine. Continuing through 2019, the center will welcome a total of 30 new stores and restaurants located throughout four new buildings. The investment also includes new and enhanced outdoor spaces and amenities such as courtyards, updated landscaping and new seating areas. Fifteen retailers will open at the center on August 18, including Hello Kitty Café, H&M, Apple Irvine Spectrum Center, Gorjana, The Denim Lab and BLKdot Coffee, among others. Later this year, Sephora, Drybar, Brigade LA and SST&C will open locations at the center. Irvine Spectrum Center houses more than 150 shops and restaurants, including Target, Nordstrom, Anthropologie, Urban Outfitters, lululemon athletica, Yankee Candle and a 21-screen movie theater. Irvine Co. has owned and operated the center since it opened in 1995. Urbanspace will anchor Catalog, a five-story dining, retail and entertainment destination located at the base of Willis Tower in downtown Chicago. The food hall operator will occupy more than 14,000 square feet, making it one of the largest retailers in the building.

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