Project Owner: RPAI
Company HQ: Oak Brook, Illinois
Project Location: Gaithersburg, Maryland
Project Size: 258,000 sq. ft. of retail space
Project Status: Open and operating
Company Website: www.rpai.com
Downtown Crown is a Class A mixed-use project located in the Washington, D.C., MSA, and features approximately 258,000 sq. ft. of retail space that is owned and managed by RPAI. The property will also feature a 180-acre Crown community, which is expected to include more than 2,200 residential units upon completion.
Downtown Crown’s owner, Retail Properties of America, Inc., is a self-managed REIT focused on the acquisition, development and management of strategically located retail assets. As one of the largest owners and operators of shopping centers in the United States, RPAI has a diversified mix of assets, including power centers, community centers and lifestyle centers. The company has approximately 16.4 million sq. ft. in its Eastern Division with about 6.8 million sq. ft. in the target markets of New York Metro, Washington D.C./ Baltimore, Atlanta and Chicago.
Project Owner: Equus Capital Partners
Exclusive Leasing Agents for Project: Metro Commercial Real Estate (Glenn Marvin and Steve Niggeman)
Metro Commercial HQ: Philadelphia, Plymouth Meeting, Pennsylvania; and Mt. Laurel, New Jersey
Project Location: Newtown Square, Pennsylvania
Project Size: Phase I: 107,000 sq. ft.; Phase II: 239,000 sq. ft.
Project Status: Phase I opens fall 2016; Phase II slated to open fall 2017
Company Website: www.metrocommercial.com
Ellis Preserve is a 210-acre mixed-use town center development situated at Routes 3 and 252 in Newtown Square, Pennsylvania, with convenient access to PA’s Main Line as well as Center City, Philadelphia, and South Jersey. With more than 1,500,000 sq. ft. of existing office space and 6,500 daytime population, the development in 2016 will see the opening of Phase I of the Shops at Ellis Preserve — which includes a Whole Foods, a 136-room hotel and over 100,000 sq. ft. of dining and shopping. In 2017, Phase II of the development will begin, featuring 239,000 sq. ft. of upscale retail space, along with “for sale townhome” and “for rent apartment” communities, in keeping with Ellis Preserve’s planned live/work/play environment.
Full-service independent retail real-estate firm Metro Commercial will act as the exclusive leasing agent for this premier property.
THE SHOPPES AT MIDDLETOWN
Developer: National Realty & Development Corp.
Company HQ: Purchase, New York
Project Location: Middletown, New Jersey
Project Size: 380,000 sq. ft.
Project Status: Opening 2017
Project Website: www.shoppesatmiddletown.com
National Realty & Development Corp. is bringing a premier, 380,000-sq.-ft. town center to Middletown, New Jersey. The Shoppes at Middletown will include a specialty grocery store, several upscale national restaurants, and a luxury cinema with a dine-in theater experience that will feature oversized seating and state-of-the-art viewing rooms.
The shopping center will provide a distinct gathering place within the community. Design features include wide sidewalks for outdoor dining; comfortable seating areas; extensive landscaping elements; and sustainable aspects, such as energy-efficient lighting and vehicle charging stations. The Shoppes at Middletown will provide a specialty shopping and entertainment experience not found at any other retail establishments in the area, according to NRDC.
The project will be located on Route 35, the area’s major north/ south corridor in eastern Monmouth County, just minutes from the Garden State Parkway at Exit 116.