REAL ESTATE

Howard Hughes Corp. breaks ground on South Street Seaport redevelopment

BY Staff Writer

New York — The Howard Hughes Corp. on Thursday officially broke ground on the redevelopment of Manhattan’s South Street Seaport, with a ceremony at Pier 17.

The redeveloped Pier 17 is expected to open in 2016, with a mix of retail, dining and entertainment options highlighted by a one and a half-acre rooftop that will include a restaurant, two outdoor bars and an amphitheater that will hold up to 4,000 people for concerts and special events.

With 40% more open space, the pier will showcase spectacular views of the New York Harbor, Statue of Liberty, Brooklyn and Lower Manhattan. Along with the rooftop destination, the new Pier 17 building will feature a glass façade encompassing a compelling array of stores, restaurants and neighborhood shops. The contemporary design draws from the site’s history as a bustling marketplace and renowned maritime port with the goal of creating an unmatched New York experience with unparalleled waterfront access that is compelling to neighborhood residents, local workers and tourists.

“Today is an important step forward in the rejuvenation of our historic Seaport area as the redesign of Pier 17 maintains open space, view corridors and honors our maritime past by proudly docking nearby the Seaport Museum’s historic vessels to create our signature skyline,” said Community Board 1 Chairwoman Catherine McVay Hughes.

"SHoP’s design for the Seaport’s Pier 17 combines the density needed to support active street life on the waterfront with intimately scaled retail corridors," said Gregg Pasquarelli, principal, SHoP Architects, the design firm. "The building’s network of interior streets connects to its historic context as well as a series of public spaces designed with James Corner Field Operations, the landscape architect who envisioned New York’s High Line. The new building will be a beautiful space for New Yorkers to connect to their iconic waterfront."

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REAL ESTATE

Construction starts on Juanita Tate Marketplace in South Los Angeles

BY Staff Writer

Los Angeles — Construction has begun on Nadel Architects-designed Juanita Tate Marketplace, a 77,096-sq.-ft. outdoor retail center in South Los Angeles. Owned by Regency Centers, the $21 million development will bring a full-service grocery and retail center to the highly underserved surrounding community.

The center is being designed by Nadel Architects.

“When designing Juanita Tate Marketplace, our goal was to provide a convenient, centralized shopping destination that supplies a wide range of food and services catering to the South Los Angeles community,” said Greg Palaski, managing principal and project director of Nadel Architects. “In addition to coming up with the most cost-effective way to develop the center and remain consistent with the tenants’ requirements, our design helped create an inclusive retail center for local residents to enjoy.”

The center consists of a 42,500-sq.-ft. building to be occupied by the anchor, a 14,576-sq.-ft. building for CVS and two additional free-standing buildings totaling 20,000 sq. ft. with space for up to 12 small shops. Nadel designed the buildings as if they were built separately to give a small-town Main Street, commercial feel.

Nadel’s contemporary design features brick, tile and plaster walls as well as elements that are visually appealing and reflect the commercial buildings from the surrounding area with high transom windows, cantilevered metal awnings and stepping roof lines.

The general contractor on the project is MATT Construction.

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REAL ESTATE

Mid-America brokers three new Chicagoland leases

BY Michael Fickes

Oakbrook Terrace, Ill.Mid-America Asset Management has announced three new retail leases in Chicago’s northwestern suburbs. Mid-America represented the landlord in each transaction.

Charles Schwab signed a lease for 4,339 sq. ft. at Shops of Uptown in Park Ridge, a northwestern suburb of Chicago. The store is expected to open next spring. The 70,800-sq.-ft. center features Trader Joe’s, Houlihan’s and Jason’s Deli. Colliers International represented the tenant.

Heroic Fitness signed a lease for 4,156 sq. ft. at Poplar Creek Crossing in Hoffman Estates, a northwestern suburb of Chicago. TJ Maxx, Michaels, World Market and Target anchor the 400,000-sq.-ft. center. Prism Corporate Realty Inc. represented the tenant.

Kay Jewelers signed a 2,000-sq.-ft. lease at Oakridge Court in Algonquin, a northwestern suburb of Chicago. The store is expected to open early next year. J.C. Penney, Toys “R” Us, Babies “R” Us, Dollar Tree, TJ Maxx, Binny’s and Five Below anchor the 289,178-sq.-ft. center. Baum Realty represented the tenant.

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