Shopping Center Business

MAY 2016

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

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Page 64 of 358

DEVELOPMENT NEWS 60 • SHOPPING CENTER BUSINESS • May 2016 Third & Moss Project Redevelopment SWC Third Ave. & Moss St., Chula Vista, CA Dynamic 118,000 SF Shopping Center in Chula Vista, CA u The Home Depot, taking on the role of developer, is actively reconfguring this shopping plaza with signifcant building and site upgrades. u High Traffc area with 27,900 cars per day. u Third & Moss is adding a breath of new life into the area and creating a real shopping destination. u Convenient access and excellent visibility with multiple ingress/egress points along both Third Ave. and Moss St. CPD offces: Atlanta, Tampa and the Greater Los Angeles Area | | 678-718-1884 FOR MORE INFORMATION, PLEASE CONTACT: Ken Stephens Mike Morris Corporate Property Dispositions Morris & Campbell Lic. 00350688 813-349-8418 u 858.452.7733 u Join the following retailers: M agic Development LLC has re- vealed plans for Magic Place, an 87-acre, $3.3 billion mixed-use develop- ment near Walt Disney World Resort in the Orlando suburb of Kissimmee. Rodrigo Cunha and Luis Claudio Sinelli are co-CEOs of Magic Develop- ment LCC, which is developing several other projects in Florida. Italian designer Paolo Pininfarina designed the project. At full build-out, the project will in- clude fve towers, shops, restaurants and resort amenities. The multifamily portion will be a mix of residential, con- do and fractional units as well as nightly rental hotel rooms. Construction will begin on the frst phase in July, according to the Orlando Business Journal. Phase I will include a 25-story, 251-unit resort tower, 40,000 square feet of retail and a 20,000-square- foot offce building on U.S. Highway 192. Plans call for the fnished develop- ment to include 250,000 square feet of retail and 1,850 residential units. The residential portion has a construc- tion value of around $1.7 billion, accord- ing to the Business Journal. James Mincy, the project's manager, says the company plans to build one building every four or fve years, making a total construction time of between 20 and 25 years. — Haisten Willis KISSIMMEE, FLORIDA MAGIC DEVELOPMENT UNVEILS PLANS FOR $3.3 BILLION MIXED-USE PROJECT NEAR ORLANDO At full build-out, the Magic Place project by Magic Development will include fve towers, shops, restaurants and resort amenities.

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