Shopping Center Business

OCT 2018

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

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Page 40 of 84

Thank You to all of Our Clients, Partners, Colleagues, Family and Friends for Making our First Year at Encore a Success! DEVELOPMENT NEWS 38 • SHOPPING CENTER BUSINESS • October 2018 ALBUQUERQUE, NEW MEXICO SAPIR REAL ESTATE DEVELOPMENT BREAKS GROUND ON FIRST PHASE OF SNOW HEIGHTS PROMENADE IN NEW MEXICO Sapir Real Estate Development has broken ground on the first phase of Snow Heights Promenade, a retail and entertainment project in Albuquerque. The $45 million phase will include a skyline live entertainment stage that will feature live DJ's, concerts, comics, family movies, magic and puppet shows. In addition, Snow Heights Promenade will feature a children's play area, dog park, restaurants, pubs, entertainment venues and retailers. Signed tenants at the development include Altitude Trampoline Park, Alamo Theaters, Fatburger, Outback Steakhouse, Juice It Up, Joe's Pizzeria, U Choose Tacos, Divalish Desserts and Albuquerque Fitness Center, among others. The second phase of the project will include a $100 million office building with a rooftop dining experience. Sapir Real Estate Development expects to deliver the first phase of the project in January 2019. ORLANDO, FLORIDA TAVISTOCK UNVEILS PLANS FOR SHIPPING CONTAINER ENTERTAINMENT VENUE WITHIN LAKE NONA DISTRICT Tavistock Development Co. has unveiled plans for Boxi Park at Lake Nona, an outdoor entertainment venue located within Lake Nona Town Center, a 100-acre mixed-use development that anchors the master-designed Lake Nona community in Orlando. The 30,000-square-foot venue will be built using repurposed shipping containers, and will feature a mix of restaurants and bars, beach volleyball courts, a fenced dog park, playground and a live entertainment venue. The park will be built using 12 containers arranged in one- and two-story configurations. The structure allows the containers to be moved as Lake Nona Town Center expands. Boxi Park is scheduled to open in December. MACON, GEORGIA SEMBLER, BERKLEY DEVELOPMENT BREAK GROUND ON 166,465-SQUARE- FOOT RETAIL PROJECT IN GEORGIA A joint venture between The Sembler Co. and Berkley Development has broken ground on North Macon Plaza, a 166,465-square-foot retail project located in Macon, a city 83 miles south of Atlanta. The center will be home to Marshalls/ HomeGoods, Michaels, Beall's Outlet, Old Navy, Five Below and Lifeway Christian. North Macon Plaza will be situated adjacent to a 600,000-square- foot Bass Pro Shops retail facility and distribution center, as well as the Shoppes at River Crossing, a 750,000-square-foot shopping center. The center is scheduled to open in fall 2019. A second phase of the project could accommodate up to 50,000 square feet, according to the developers. 30500 NORTHWESTERN HWY STE 400 FARMINGTON HILLS, MI 48334 EKZZ/^KD Walgreens – Minneapolis, MN DaVita – Corpus Christie, TX Sherwin Williams – Farmington Hills, MI Crossmark – Bentonville, AR McDonalds – Westchester, NY Chase Bank – Muncie, IN CVS – Tampa, FL Best Buy – Woodland Park, NJ Firestone – Clermont, FL $506,596,995 Sales Volume 300 Properties Sold 27 Investment Brokers Sold in 34 States Rite Aid – PA,NY,NC,SC,MI,OH Advance Auto Parts – MI & KY Dollar Stores – MI,IN,TN,NC,OH,PA Brandon Hanna Managing Partner 248.702.0290 Deno Bistolarides Managing Partner 248.702.0288 Ryan Vinco Managing Partner 248.702.0299 Walgreens - Massachusetts 7 Eleven - Michigan CVS – West Coast

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