Grandview Yard retail expands
Columbus, Ohio-based Nationwide Realty Investors’ $650 million Grandview Yard development has consistently been in the news over the past several years, as prominent components of the mixed-use project continue to fall into place and new buildings come online.
The latest milestone in the ongoing development of the 125-acre project is the announcement that construction is about to begin on The Manchester Building — a large retail-anchored mixed-use building at the north end of Grandview Yard. The four-story building, will feature more than 14,000 sq. ft. of first floor restaurant and specialty retail space below 123 residential units spread across the three upper floors.
Nationwide Realty Investors’ president and COO Brian J. Ellis says that the Manchester Building’s new retail and restaurant offerings are part of the “integration of great amenities,” something that “remains a priority for our growing base of residents and office tenants, including the nearly 3,000 Nationwide associates we are welcoming to Grandview Yard over the next few years.”
The first of those associates are already in the process of moving into the recently completed four-story, 320,000-sq.-ft. Class A office building and an accompanying 1,400-space parking garage at 1000 Yard Street — the first of three office buildings to be completed in what will ultimately become a 500,000-sq.-ft. Nationwide corporate campus.
The Manchester Building joins a number of other high-profile projects at Grandview Yard that are either under construction or already completed. Also under construction is a 135-room Courtyard by Marriott, a 13,000-sq.-ft. event and conference center, a 166-unit addition to the Apartments at the Yard community and a five-story, 35-unit luxury condominium building. Some of Grandview Yard’s uses and tenants that are already open include 274 luxury apartments, Giant Eagle Market District, LA Fitness, Hyatt Place Hotel, Ohio Health Urgent Care, Hofbrauhaus, Eddie George’s Grille 27, Panera Bread, Jason’s Deli and dozens of office users.
Upon completion, the project, which is located just minutes from downtown Columbus, will include more than 1.2 million sq. ft. of retail, dining, entertainment, office and residential space.
Slow and Steady Wins the Race
New-build shopping center construction was plodding last year — discounting the outlet category, which continues to grow at record speed. And, yet, sometimes one has to look at the quality of what is coming out of the ground — or expanding — and not just the quantity.
And so it goes with our highlighted developments below. Chain Store Age’s annual development survey — spanning 27 years — showcases some notable projects by developers that continue to push the envelope in terms of amenities, strategic redevelopment and creative leasing strategies. Are these all that opened in 2015? Of course not, but they do represent an excellent sampling of last year’s shopping center menu.
Consistent with the last seven years, we have not attempted to rank a “Fastest-Growing Developers” listing but, rather, have arranged the companies alphabetically and provide highlights of one or more 2015 projects from each. All new developments and expansion projects were completed between Jan. 1 and Dec. 31, 2015.
CBL & Associates Properties
2015 score: 15 projects in 10 states, 1,068,000 sq. ft.
On Oct. 15, 2015, CBL & Associates Properties, Inc., along with joint-venture partner Stirling Properties, celebrated the opening of Fremaux Town Center Phase II, one of 15 projects that CBL opened last year. The 283,000-sq.-ft. development in Slidell, Louisiana, opened Phase II 86% leased with key tenants, including Forever 21, Victoria’s Secret, LOFT, Bath & Body Works, Red Robin, Aveda, Chico’s and Pier 1 Imports.
The pair has teamed up again to deliver > another Louisiana project: the 425,000-sq.-ft., Costco-anchored, recently opened Ambassador Town Center in Lafayette.
Costa Mesa, California
2015 score: 50 projects in 4 states, 273,000 sq. ft.
Donahue Schriber completed a lineup of projects last year in California, Nevada, Oregon and Washington, counting among its most significant Rocklin Commons and Rocklin Crossings near Sacramento.
At just under 1 million sq. ft., Rocklin Commons and Rocklin Crossings represent the largest new retail development in Rocklin and the greater Sacramento Tri-County region. Anchored by Target, Walmart, Bass Pro Shops, Green Acres Nursery & Supply, and Studio Movie, shoppers are presented with a well-rounded tenant list and offerings at a location off Interstate 80 and Sierra College Boulevard.
Kimco Realty Corp.
New Hyde Park, New York
2015 score: 45 projects in 18 states and Canada, 2,439,010 sq. ft.
Not unusual for this prolific developer and redeveloper, Kimco tackled 45 projects across a wide swath of the U.S. and Canada last year. The company points to Castor Place — in busy Northeast Philadelphia — as a project to highlight.
Kimco converted a four-story former J.C. Penney department store into a multi-tenant retail building. As part of the redevelopment, Kimco adapted the lot to provide amenities and optimum logistics for shoppers, such as ample parking and well-situated access from the street and mass transit. The redevelopment included the repositioning of the property for long-term growth, including adding a new vertical entrance, parking, a new common area for second- and third-floor tenants, and the renovation of existing in-line tenants with Burlington Coat Factory, now occupying the lower level and first floor, and T.J. Maxx and Bob’s Furniture occupying the second and third levels.
2015 score: 3 projects in 3 states, 312,923 sq. ft.
Regency is very targeted in its development activities, focusing its efforts and expertise on grocery-anchored properties that deliver maximum value to the communities they serve.
Persimmon Place, a 153,380-sq.-ft. shopping center located in Dublin, California, celebrated its grand opening in October 2015. Anchored by Whole Foods Market, the center offers an upscale and convenient retail experience by incorporating the Bay Area’s best anchor stores and a unique collection of retail shops and restaurants. Joining Whole Foods are co-anchors Nordstrom Rack and HomeGoods, which harmonize with side shop retailers, such as Starbucks, Pacific Catch, Vitality Bowls, Orange Theory Fitness, Sur La Table and Ethan Allen.
New York, New York
2015 score: 3 projects in 3 states, 298,290 sq. ft.
Rouse Properties completed a strategic redevelopment of The Shoppes at Gateway in Eugene, Oregon, in 2015. The $45 million project recaptured unproductive space and transformed the former enclosed mall — which is located along the heavily traveled Interstate 5 — into an institutional quality, open-air retail destination.
The transformation involved redeveloping more than 200,000 sq. ft. of existing mall space into exterior-facing junior box and small-shop space. More than 40,000 sq. ft. of new outparcels were constructed, and 35,000 sq. ft. of interior mall space was renovated to create an enhanced shopping and social environment. Rouse also added new amenities to the property, including bike paths and a refurbished covered > walkway for public transportation access.
The redevelopment project has attracted new-to-market, category-leading retailers, including ULTA, Panera, Payless, Petco, Hobby Lobby, Ross and Marshalls, with more on the way.
Simon Property Group
2015 score: 7 projects in 6 states, 1,901,800 sq. ft.
Always a major player on the CSA Top Developers list, Simon debuted in 2015 a two-level “Fashion Wing” anchored by a new Nordstrom store at the iconic Del Amo Fashion Center, in Torrance, California.
The two-level, 140,000-sq.-ft. store is the 28th Nordstrom in the Simon portfolio. Adjacent to the new Nordstrom will be 100 brands, many of them exclusive to the South Bay area, housed in a space that features wood accents and massive skylights. Brands in the Fashion Wing include Arhaus, Kate Spade, Hugo Boss, Guess/Marciano, lululemon athletica, Michael Kors, J. Crew, Madewell, Vince Camuto, a two-level Zara, a two-level H&M store, a Victoria’s Secret flagship store, an Express flagship store, Brooks Brothers and Uniqlo.
Steiner + Associates
2015 score: 2 projects in 1 state, 1,883,000 sq. ft.
There was much ado about the opening of Liberty Center, in Liberty Township, Ohio, last October — and it was warranted. The first phase features a massive 1.3 million sq. ft. of retail, dining and entertainment, including 75,000 sq. ft. of Class A office, 100,000 sq. ft. of restaurant and dining, 240,000 sq. ft. of upscale residential, 90,000 sq. ft. of cinema and entertainment, and a 130-key AC Marriott hotel.
Retail and restaurant headliners include Dillard’s, Dick’s Sporting Goods, Cheesecake Factory, Brio, Starbucks, Gap, Old Navy, H&M, Victoria’s Secret, Bath & Body Works, and Kona Grill.
Tree-lined pedestrian walkways bisect the site, and unique outdoor park spaces include fountains and sculptures. The Acropolis includes a beautiful rooftop garden, as well as two unique spaces — a community conference center and Unity Chapel — with the goal of promoting health and wellness and bringing awareness and educating the greater community.
2015 score: 7 projects in 1 state, 570,000 sq. ft.
The joint-venture partner (with CBL) in Fremaux Town Center, Stirling points to that project’s Phase II as its most significant of 2015. The Dillard’s-anchored phase opened last October and added 283,000 sq. ft. to the Slidell, Louisiana, shopping center.
Fremaux Town Center offers a one-of-a-kind retail experience to meet the increased demand, with many of the retailers and restaurants new to the region. Stirling Properties was not initially selected to develop the property, but was given a second chance to take over the development, and adapted the project’s initial vision and scope as only a Louisiana-based developer could. The success of the center has resulted in significant economic impact and job opportunities in the area, creating 3,400 construction jobs, 1,500 permanent jobs, $220 million in projected annual retail sales, and will continue to grow through future development of the site.
Bloomfield Hills, Michigan
2015 score: 1 project in Puerto Rico, 630,000 sq. ft.
Taubman routinely stakes its claim to a Top Developers ranking by adding one significant project during the year — and 2015 was no exception. The Mall of San Juan, Puerto Rico, opened in March 2015 and delivered to the area not only a 100,000-sq.-ft. Saks Fifth Avenue but also a 138,000-sq.-ft. Nordstrom — both anchors made their Caribbean debut in this key project.
The dominant upscale shopping destination in Puerto Rico also features such tenants as American Cut Bar & Grill, Anthropologie, BRIO Tuscan Grille, Brooks Brothers, Bulgari, Burger & Beer Joint, Free People, Gustavo Arango, Hervé Léger, Jimmy Choo, kate spade new york, Kona Grill, Louis Vuitton, lululemon athletica, OMEGA, Pottery Barn, Stuart Weitzman, Swarovski, Tory Burch, Versace, Williams-Sonoma and Zara.
Century City, California
2015 score: 8 projects in 4 states, 1,128,000 sq. ft.
This Top Developers stalwart created a top-notch shopping destination in Los Angeles with its The Village at Westfield Topanga, which opened September 2015 with anchors Costco, Crate & Barrel, REI, and Burke-Williams Day Spa.
Located directly across the street from the existing Westfield Topanga shopping center (with shuttle service connecting the properties and the adjacent Orange Line transit station), The Village is home to trendy local fashion and lifestyle brands, outdoor restaurants, plus year-round events and entertainment to help create a destination experience unique to the San Fernando Valley.
The Village encompasses 80 shops and restaurants across 550,000 sq. ft. of space. Abundant open space and pathways include water features, children’s play areas, bocce ball courts and yoga, outdoor lounges, health and fitness amenities, exhibitions by local artists, and a weekly farmers market offering farm-fresh California produce.
Combined, Westfield’s adjacent Topanga, Village and Promenade properties now comprise more than 300 shops and restaurants, are projected to host 20 million annual customer visits, and generate in excess of $1.3 billion in sales each year to emerge as one of the top retail districts in the United States.
The Woodmont Company
Fort Worth, Texas
2015 score: 5 projects in 2 states, 534,500 sq. ft.
Back for an encore listing among CSA’s Top Developers, Woodmont spotlights an unexpectedly vibrant project in 2015: Hay Creek Shops in Bismarck, North Dakota.
The 300,000-sq.-ft. lifestyle center features Michaels, Bed Bath & Beyond, ULTA, Gordman’s, and Dicks Sporting Goods, among others. Most notably, the new development has played a crucial role in establishing Bismarck as a regional shopping destination. While shoppers may conduct their daily errands in nearby Minot and Williston, the addition of the Hay Creek Shops brings those shoppers to Bismarck on the weekends for the increased variety and offerings.
Innovative retail concept combines offline and online at the mall
Off-price retailer Century 21 will make its West Coast debut in a most unusual way — taking over a high-tech, high-touch “smart” store for six weeks.
WithMe, an interactive store format that features limited runs of traditional and pure-play retail brands, will open its first in-line mall location on May 26, a nearly 8,000-sq.-ft., two-level futuristic-looking flagship, at Macerich’s Santa Monica Place, Santa Monica, California. Its first outing will be taken over by Century 21, which has curated an exclusive merchandise mix for the contemporary, relaxed Southern California lifestyle. When Century 21 finishes its six-week run, a new brand will take its place in the WithMe space.
The Santa Monica store will feature WithMe’s signature technology, including an immersive, floor-to-ceiling smart display, called the “Pixel Wall,” crafted from 900 individual screens that move independently to form shelves and hanging racks. Glass-top digital displays and interactive fixtures will offer product highlights and video content about brands. A virtual reality showcase and a large social media wall, will help keep shoppers engaged. Utilizing a table, guests can shop an “endless aisle” and scan items to find more options, request items to try on, build a cart and check out.
“With its incredible technology that creates personalized, online and offline shopping experiences, plus an ever-changing array of brand activations, WithMe will be a signature draw for our mall shoppers,” said Eric Salo, executive VP and chief strategy officer, Macerich.
The fitting rooms are also cutting edge, with interactive mirror displays that allow customers to make purchases or request alternate products without leaving their rooms. RFID tags on all products give shoppers ready information at their fingertips.
“We were looking to expand into premier shopping centers that consumers know and love, and where traditional and pure-play brands want to be, in the country’s best markets,” said Jonathan Jenkins, founder and CEO of WithMe. “All of this defines Macerich and its properties. We’re also tremendously excited to be working with a retail icon like Century 21 for our launch at Santa Monica Place. Our technology provides the perfect platform for this legendary brand to expand into new markets and create experiences their customers will love.”
WithMe at Santa Monica Place will offer customers several different modes of delivery. They can to take their merchandise with them at the time of purchase, or opt for same-day delivery to their homes, offices or hotels powered by Deliv. They can also choose to have the goods delivered to the location of their choice within two days.
Macerich and WithMe plan to expand the concept, in both large and small common-area formats, to other top-performing Macerich properties in the near future. WithMe currently is building modular common-area designs that range in size from 100 sq. ft. – 1,000 sq. ft. to accommodate a wide range of retail activations at Macerich centers in markets including New York, Washington, D.C., Los Angeles, San Francisco and Chicago.