Shopping Center Business

MAY 2015

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

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Page 124 of 342

C E N T E R R E V I E W 120 • SHOPPING CENTER BUSINESS • MAY 2015 On tap for 2015 is the completion of a 2.5-acre park and the construction of two new hospitality assets: a four-story, 135-room Courtyard Marriott, and The Grand Event Center, an adjacent 13,000-square-foot conference center complete with multiple meeting rooms, an outdoor courtyard, a full-service kitch- en and catering, and a ballroom capable of seating more than 300 people. With more than $158 million devoted exclusively to infrastructure improve- ments and upgrades, Nationwide Realty Investors has literally put Grandview Yard on the map. To put that investment in context: over 1.2 miles of streets and side- walks have been completed so far — with an additional 3.4 miles currently under construction. That strong infrastructure investment is part of the company's long- term commitment to the site and the surrounding community. In combina- tion with Nationwide Realty Investors' $1 billion Arena District in Downtown Columbus, more than $1.65 billion has been invested between the two projects, which are located less than a mile apart. The city's long-term commitment to infrastructure improvements allowed Nationwide Realty Investors to move forward quickly with Grandview Yard, according to Ellis. "They embraced our vision early in the process," he said. "De- mand is high for vibrant, mixed-use ur- ban developments in Columbus, and with the City's support, we are able to deliver highly these coordinated mixed-use com- mercial environments that drive sustain- able growth and investment." Nationwide Realty Investors, which has extensive experience planning and build- ing large scale, mixed-use urban environ- ments, is also under construction with the $750 million, 3.5 million-square-foot mixed-use Rivulon development in Gil- bert, Arizona. SCB Recent openings at Grandview Yard include a 92,000-square-foot Giant Eagle Market District grocery store (pictured) and an 18,000-square-foot Hofbrauhaus restaurant. • Retailer prefers to buy freestanding (or as a condo within a shopping center, with easement), but may lease. • All cash, no fnance contngency. • Will open in the entre store with no allowance and no demising cost, pay taxes, and self-maintain. • Will purchase the box or the whole center with existng Term, knowing your big tenant will eventually depart, thus solving big box co-tenancy issues. Attention KMART/SEARS Landlords or any with boxes over 80,000 sq ft in OH, IN, PA, West VA, KY, IL, TN, and neighboring states Contact broker Bobby Benjamin to discuss possibilities or to meet at ICSC RECON Las Vegas North Hall Booth #3110 X Street Bobby Benjamin 216-342-9308 • cell 216-210-0221

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