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Shopping Centers Today -> August 2003
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NEWS IN BRIEF
LINCOLN SQUARE
Kemper Development Co. has paid an undisclosed amount for a majority stake in Lincoln Square, an unfinished, 1.4-million-square-foot mixed-use project in Bellevue, Wash. The project was begun in 2000. Bellevue-based Kemper plans to add 330,000 square feet of retail to the project, which is 10 miles east of Seattle.HARLEY-DAVIDSON
A 45,000-square-foot Harley-Davidson dealership opened in May at General Growth Properties’ White Mountain Mall, Springs, Wyo.SHOPPINGTOWN TOPANGA, CALIF.
Nordstrom says it will expand and relocate its store in Westfield America Trust’s Westfield Shoppingtown Topanga, Canoga Park, Calif. The expansion, which will take the store from 154,000 square feet to 200,000 square feet, is scheduled for completion in the fall of 2005. |
DDR
Developers Diversified Realty is building the 548,000-square-foot North Shore Village, Glenview, Ill., about 20 miles north of downtown Chicago. The company expects to break ground on the mixed-used lifestyle center this fall and complete work sometime next fall.REGENCY CENTERS
Regency Centers has bought the 300,000-square-foot Addison (Texas) Town Center, about 15 miles north of Dallas, and is redeveloping the grocery-anchored center. A Kroger Signature grocery store has already replaced a former Winn-Dixie store, and a Target is scheduled to open in a former Kmart space in October.WILMORITE
Rochester, N.Y.-based developer Wilmorite is adding a 100,000-square-foot Galyan’s to its 1.6 million-square-foot Freehold (N.J.) Raceway Mall, which is located about 30 miles east of Trenton. Completion is set for the spring of next year. For the more distant future, Wilmorite says it plans a further 250,000-square-foot expansion that will add an additional, so far unnamed, anchor. J.C. Penney, Lord & Taylor, Macy’s, Nordstrom and Sears are the shopping center’s current anchors.SUSSEX COMMONS, N.J.
Secaucus, N.J.-based Sussex Commons Associates and Newport Beach, Calif.-based Craig Realty Group have joined forces to build the 303,500-square-foot Sussex Commons Lifestyle outlet center in Frankford Township, N.J. The center will be located in the northwest corner of the state, about one hour’s drive from New York City. Construction on the $50 million project, which will include a three-story, colonial-style clock tower, is scheduled to begin next spring. The developers hope to complete work sometime in the summer of 2005.URBAN RETAIL PROPERTIES
Urban Retail Properties is coordinating the development of a $300 million mixed-use project in downtown Branson, Mo., about 250 miles southwest of St. Louis, and will also lease and manage the property. The project, to be developed by the city of Branson and Branson-based HCW Development, will include 190,000 square feet of retail, a 220,000-square-foot convention center and a 300-room hotel. The retail portion is slated to open in mid-2005.
Shopping Centers Today
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