REAL ESTATE

Ambassador Town Center celebrates grand opening with 97% occupancy

BY Melonie Messina

Lafayette, La. — Stirling Properties and CBL & Associates Properties celebrated the grand opening of Ambassador Town Center located in Lafayette, Louisiana. The center is currently 97% leased and includes either first-time locations within Lafayette or Louisiana, or both.

Ambassador Town Center is a roughly 60-acre, 430,000 sq. ft. retail project anchored by Costco and Dick’s Sporting Goods/Field & Stream. The center will also feature: Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans, Red Robin, Subway, Tao Japanese Cuisine, World of Beer and Verizon.

“We are excited to celebrate the grand opening of Ambassador Town Center and bring a unique customer experience to the Lafayette market,” said Michael Lebovitz, EVP, development and administration for CBL & Associates Properties. “This development brings a number of retail and restaurant options, most of which are new to the market.”

“We are confident in the future and prosperity of this area. Ambassador Town Center is positioned in an excellent location that is experiencing tremendous growth and attracting new retailers,” said Townsend Underhill, senior VP of development for Stirling Properties. “We are happy to continue our long and successful development history in the City of Lafayette.”

Ambassador Town Center has already created approximately 2,200 construction jobs, and is expected to generate roughly 1,700 permanent jobs and nearly $9 million annually in estimated sales tax collection, providing a huge boost for the local market.

The first tenant, Nordstrom Rack, opened earlier this month and last week Costco and Marshalls/HomeGoods opened. More tenants are expected to open their doors within the week.

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News

Instacart maintains busy 2016 pace

BY CSA STAFF

Online delivery service Instacart is launching its first expansion of 2016 – and it’s a big one.

Instacart is now offering deliveries in as little as one hour from Whole Foods Market, Gelson’s Market, Stater Bros. Markets, Ralphs, Smart & Final, Costco (no membership needed), Petco, and H Mart to residents of Orange County, California. Whole Foods will offer delivery via Instacart at prices that are the same as shoppers find in-stores.

In 2015, Instacart grew in neighboring Los Angeles County by roughly 350%. In addition, Orange County is densely populated and has a high median household income. Instacart’s initial delivery area in Orange County covers Newport Beach, Costa Mesa, Corona del Mar, and much of Irvine. The delivery provider now operates in 19 U.S. metropolitan markets.

“We’ve received thousands of customer requests from Orange County residents to bring Instacart to their community, along with incredible interest from retail partners here,” said Apoorva Mehta, founder and CEO of Instacart. “We are passionate about saving our customers time and money, which is why we partner with local and national retailers to bring our customers groceries from their favorite stores wherever, and whenever they want them. We couldn’t be more excited to launch in Orange County.”

Instacart has been busy of late making moves to expand its business, as well as improve its operational and financial performance. The company recently deepened its partnership with Whole Foods, and also started providing deliveries from specialty grocer H Mart on a national scale. Other notable maneuvers have included hiring former Amazon executive Mike Swartz as senior VP of operations, reducing driver delivery payments and commissions, and raising customer fees.

Online perishable delivery is proving to be an extremely popular but also extremely competitive market. Established players such as Instacart, AmazonFresh and Google Express are competing with startups such as Shipt and Wholeshare, and even non-traditional entrants like Foursquare. Instacart is attempting to maintain its prominent position through a diverse set of strategic initiatives.

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REAL ESTATE

Ross Dress for Less expands in Virginia

BY Marianne Wilson

Ross Dress for Less opened a new store in Woodbridge, Virginia, on March 5.

The 25,000=sq.-ft. store is located in Prince William Square, on the northwest corner of Smoketown Road and Gideon Drive, 20 miles southwest of Washington, D.C.

The opening is part of Ross’ 2016 expansion program, totaling about 70 new locations during the year.

Together, Ross Dress for Less and dd’s Discounts currently operate approximately 1,500 off-price apparel and home fashion stores in 34 states, the District of Columbia and Guam.

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