PROJECTS & PEOPLE
Sep 1, 2003 12:00 PM
Pinnacle Hills (below), a mixed-use development under construction in Rogers, Ark., will be home to a 500,000-square-foot lifestyle center including a fashion anchor, multiplex, restaurant and other retailers. Jones Lang LaSalle, part of the development team, is also the leasing and management agent. Completion is set for March 2005.
Simon Property Group is building St. Johns Town Center, a $158 million mixed-use lifestyle center in Jacksonville, Fla. The 1.5 million-square-foot, open-air center, set to open in 2005, will be anchored by Barnes & Noble, Dick's Sporting Goods and Dillard's.
Edwin Holman is the new president and COO of Plainfield, Ill.-based Galyan's Trading Co. Holman, former president and COO of Federated Department Stores' Bloomingdale's division, has also worked for Neiman Marcus and Petrie Retail Inc.
Sperry Van Ness nabbed top Grubb & Ellis brokers Jeff Pori and David Stubbs to drive growth at the real estate services firm's new Las Vegas office. In the past year, the two had secured transactions valued at nearly $170 million.
Rockwood Realty have lured Jubeen Vaghefi and Jeffrey Morris (right) from Insignia/ESG's Capital Advisors Group in Florida to be managing directors based in Rockwood's new Miami office. Michelle Allen and Patricia Kollias, also formerly with Insignia/ESG, will be joining them. The new team will focus on providing investment sales and advisory services in Florida and other markets in the Southeast.
RED Development and CDC Real Estate Corp. are developing Mandalay Town Center, a 540,000-square-foot, open-air center set to open next fall in Westminster, Colo. Adjacent to the center will be rail and bus stations for commuters between Denver and Boulder.
Edens & Avant broke ground on two new Mid-Atlantic properties. Arundel Village (below), an 86,460-square-foot Safeway-anchored center in Hanover, Md., will open in spring 2004. The Marketplace at Potomac Station, a 96,343-square-foot Giant Food-anchored center, will also open in 2004.
A joint venture between Casto Southeast and The Drummond Corp. is developing Lakeland Village, a 500,000-square-foot “entertainment lifestyle” center in Lakeland, Fla. The $50 million development will include a multi-screen cinema, a supermarket and a 60,000-square-foot department store. Construction begins this fall.
Minneapolis-based Great Clips Inc. promoted Marlene Oberste to senior real estate manager. She assists the retail chain's real estate managers nationwide and is directly responsible for site selection in Chicago, Kentucky and Wisconsin.
Westfield America is buying a joint-venture stake in The John Buck Co.'s three-year-old North Bridge property, the newest mall on Chicago's Michigan Avenue. The 386,000-square-foot, Nordstrom-anchored center will be rebranded as Westfield Shoppingtown North Bridge. The deal will put Westfield in direct competition with Urban Retail Properties, which it partially owns along with Simon Property Group and The Rouse Co. Urban manages 900 N. Michigan, and also handles leasing and marketing for Chicago Place at 700 N. Michigan.
