REAL ESTATE

Baker Katz breaks ground on new retail center in Tomball, Texas

BY Katherine Boccaccio

Houston — Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced that construction has begun on its retail center in Tomball, Texas.

The property, which was purchased by Baker Katz earlier this year, was formerly home to a gas station. It is located at F.M. 2920 and Hwy 249, adjacent to another Baker Katz-owned shopping center. The building will be occupied by a 3,400-sq.-ft. Pacific Dental Services location and a 4,200-sq.-ft. Mattress Firm store. In total, the building will be approximately 7,600 sq. ft.

Construction began in July, and the two tenants are slated for late fourth quarter 2014 openings.

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REAL ESTATE

Harris Teeter to anchor Caldwell Crossing

BY Katherine Boccaccio

Charlotte, N.C. — Aston Properties announced plans to develop Caldwell Crossing in Harrisburg, North Carolina, on the corner of Caldwell Road and Hwy. 49.

Construction has begun on the 85,000-sq.-ft. center with an anticipated opening date in late fall 2015.

Caldwell Crossing will be anchored by a Harris Teeter grocery store and will include up to 26,000 sq. ft. of small shops. In addition to Harris Teeter and the shops, the center will include two outparcels.

The 53,000-sq.-ft. Harris Teeter store is expected to have a drive-up pharmacy window and express lane ordering and a Starbucks.

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REAL ESTATE

NYC’s first enclosed mall in 40 years officially opens

BY Katherine Boccaccio

New York — The Mall at Bay Plaza, New York City’s first enclosed fashion mall in over 40 years, officially opens on Aug. 14.

Located on Baychester Avenue in the Bronx, the 780,000-sq.-ft., three-level center will be the largest shopping mall in the city. It will include a new, ground-up Macy’s and an existing J.C. Penney as the anchor tenants. Over 100 retail shops have been constructed, many of which will operate in the Bronx for the first time such as H&M, Michael Kors, Ulta, Victoria Secret, and Kay Jewelers. Four new restaurants, a new gym and AMC Theater will be featured tenants as well.

Sam Shalem, CEO and chairman of Prestige Properties & Development Co. Inc., the mall’s developer, created more than 2,000 construction jobs and will soon open its doors to more than 1,700 permanent jobs.

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