REAL ESTATE

KTGY designs $43 million apartment/retail community

BY Katherine Boccaccio

Irvine, Calif. — KTGY Group announced that Hutton Cos. has launched construction on La Verne Village, a 172-unit mixed-use residential and retail community in La Verne, Calif., located in the San Gabriel Valley, east of Los Angeles.

Situated on the site of a former automobile dealership on 7.69 acres, the La Verne Village luxury apartment homes are integrated within the village-center court, complete with more than 15,000 sq. ft. of integrated retail shopping and dining.

The $43 million three-story mixed-use development is located at 2855 Foothill Boulevard, close to offices, restaurants, shopping, and public transportation.

Retail leasing is actively underway by NAI Capital in Ontario, Calif.

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REAL ESTATE

DDR opens Belgate Shopping Center

BY Katherine Boccaccio

Charlotte, N.C. — Beachwood, Ohio-based DDR Corp. has announced the opening of Belgate Shopping Center, the company’s first ground-up domestic development in over four years.

Belgate is a 100% leased, 900,000-sq.-ft. prime power center located in Charlotte, N.C., anchored by Ikea, Walmart and a complimentary lineup of junior anchors including Marshalls, Ulta, Old Navy, Petco, Cost Plus World Market, Hobby Lobby and Shoe Carnival.

Belgate is strategically located along Interstate 85, the primary thoroughfare connecting Washington D.C., and Atlanta, and features the only Ikea store between these two major metro areas, extending the project’s trade area to more than two million shoppers.

DDR previously announced the acquisitions of Cotswold Village and Carolina Pavilion in Charlotte. With the opening of Belgate, DDR now owns and manages four million sq. ft. of GLA in Charlotte.

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REAL ESTATE

Elixir inks deal for two Manhattan storefronts

BY Katherine Boccaccio

New York — Elixir Juice Bar has leased two more stores in Manhattan, according to Winick Realty Group, which represented the brand in both of its recent New York leases.

Elixir will occupy 70 Greenwich Avenue, located between Seventh Avenue South and Sixth Avenue in the heart of the West Village. Elixir has also leased a location in the Upper East Side. The 500-sq.-ft. store is located at 1371 Third Avenue, between 78th and 79th Streets.

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