Shopping Center Business

MAY 2017

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

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DEVELOPMENT NEWS 56 • SHOPPING CENTER BUSINESS • May 2017 LONG BEACH, CALIFORNIA URBAN COMMONS UNVEILS PLANS FOR $250 MILLION MIXED-USE DEVELOPMENT IN LONG BEACH Urban Commons has unveiled plans for a $250 million mixed-use development surrounding the Queen Mary, a retired cruise ship docked in Long Beach. The 700,000-square-foot project — designed by Gensler, and titled Queen Mary Is- land — will include a main lobby plaza; a 2,400-foot boardwalk alongside marinas, eclectic retail shops, cafes and bars; a 200-room hotel; and an outdoor amphi- theater. Restorations to the ship are cur- rently underway. Urban Commons is also collaborating with London-based Urban Legacies to develop Urban Adventure, a 150,000-square-foot entertainment facili- ty. The building will offer 20 interactive and experiential activities including an indoor ice climbing wall, surfing, skydiv- ing, zip lining and a trampoline park. An expected date of completion has not been announced. GLENDORA, CALIFORNIA SHOPPING CENTER REDEVELOPMENT WILL BRING NEW SPROUTS FARMERS MARKET TO GLENDORA Champion Real Estate Co. has begun converting an existing grocery property into a Sprouts Farmers Market at 655 S. Grand Ave. in Glendora. The grand open- ing of the 30,000-square-foot Sprouts is scheduled for May 18. Champion Real Estate acquired the freestanding former grocery property in 2016 and is invest- ing $32 million in the reconfiguration of the 85,615-square-foot property into a 70,500-square-foot, grocery-anchored re- tail center. There are two new retail pads in the existing parking field, plus addition- al supporting retail to expand the tenant base. Completion of the full property is scheduled for July. The center has received commitments for 93 percent of the space with tenants including Marshalls, Coffee Bean and Tea Leaf. JLL's Shauna Mattis, Elizabeth Hewson and Blake Kaplan are handling leasing at the center. MIAMI, FLORIDA REGENCY CENTERS TO DEVELOP $16.4 MILLION RETAIL CENTER IN MIAMI Regency Centers Corp. plans to devel- op Pinecrest Place, a $16.4 million retail center situated off U.S. Highway 1 (South Dixie Highway) in Miami. Whole Foods Market will anchor the 70,000-square- foot center with a 46,000-square-foot store. The shopping center will be lo- cated adjacent to a 173,000-square-foot Target. Regency Centers plans to deliver Pinecrest Place in the second quarter of 2018. Regency has developed 225 shop- ping centers since 2000, representing an investment at completion of more than $3.5 billion. CHARLOTTE, NORTH CAROLINA ASTON PROPERTIES UNDERWAY WITH CITY PARK VILLAGE Aston Properties has signed several new retailers and restaurants to join City Park Village, an 11,600-square-foot shopping center under construction in Charlotte. Situated on a 2.6-acre site at the corner of West Tyvola Road and Potomac Riv- er Parkway, the property is nearly 90 percent pre-leased to tenants including Panera Bread, Chipotle Mexican Grill, Starbucks Coffee and Firehouse Subs. The $6 million property will serve as the entrance to City Park, a 170-acre mixed- use development that Pope & Land En- terprises is developing on the former site of the Charlotte Coliseum. The Shopping Center Group is leasing City Park Village. LAREDO, TEXAS CBL AND HORIZON OPEN THE OUTLET SHOPPES AT LAREDO CBL & Associates Properties Inc. and Horizon Group Properties have com- pleted the development of The Outlet Shoppes at Laredo, a 358,000-square-foot retail center located at 1600 Water St. in Laredo. More than 50 retailers, including Nike, Puma, Michael Kors, Brooks Broth- ers and Sunglass Hut, have secured leases at the center. Urban Commons has unveiled plans for a $250 million mixed-use development surrounding the Queen Mary, a retired cruise ship docked in Long Beach.

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