The Main Event
In 15 communities from coast to coast, townspeople are cheering. And the joy is spreading, as more and more municipalities onboard a popular new shopping center format—the open-air Main Street or town center.
Whether these projects feature a blast-from-the-past Main Street design, with storefronts facing in toward an ultra-wide, tree-lined main boulevard, or a lushly landscaped and amenity-rich town-square look, the upscale lifestyle centers are drawing huge amounts of attention from retailers, municipalities and consumers. And, this month inChain Store Age, we’re celebrating the format as well.
On the following pages are 15 of the country’s most impressive Main Street and town-center projects. Some are highlighted with a small computer-mouse icon; be sure to check them out online at www.chainstoreage.com/realestate, where you’ll find additional information, including leasing details.
Imagine taking a stroll alongside a scenic tree-lined street. You pause to do a little shopping before continuing to a nearby cafe to meet up with friends. Afterwards, you walk upstairs to your loft and call it a night. Sound like the picturesque setting of a movie? Close—it’s a dynamic new mixed-use concept called Perkins Rowe.
Located in Baton Rouge, La., Perkins Rowe mixes the past and present to create the lifestyle of the future. Shops, cafes, restaurants, offices and residential living are carefully intertwined with entertainment venues to create a village environment where everything is a short stroll away.
The architecture is a blending of urban contemporary and old South. The goal was to create “urban authenticity,” where the natural evolution of a downtown area is recreated.
Perkins Rowe opens in fall 2007. To take a virtual tour of this “city within a city,” visit www.PerkinsRowe.com.
Location: Baton Rouge, La.Size: 2 million sq. ft., when complete, of retail, restaurants, office, residential, medical, hotels, theater and groceryDeveloper: JTSMajor tenants: 85% pre-leased, a short list of Perkins Rowe tenants includes Cinemark Theatres, The Fresh Market, Barnes & Noble, Z Gallerie, Guess, Anthropologie, Bally Total Fitness, BCBG Max Azria, Kona Grill, California Pizza Kitchen, Urban Outfitters, J.Crew and Sur La Table.Status: Completion date for Phase 1 is fall 2007; completion date for Phase 2 is fall 2008.
Shops on Main, a development by Regency Centers and Boyer Properties, is designed to be the premier shopping destination for residents in Northwest Indiana. Schererville and the surrounding communities continue to thrive as the location of choice for affluent residents in Northwest Indiana due to their quality of schools, cost of living and proximity to downtown Chicago. Shops on Main will represent an opportunity for these residents to dine and shop at upscale retailers and restaurants in a pedestrian-friendly environment not currently available in Northwest Indiana.
A carefully thought-out and functional layout ensure that shoppers will have the convenience of a quick shopping trip as well as the opportunity to spend the entire day amongst the terrific shops, restaurants and social gathering areas.
Shops on Main
Location: Schererville, Ind. (southeast corner of Route 41 and Main Street)Size: 350,000 sq. ft.Developer: Regency Centers and Boyer PropertiesMajor tenants: Lease negotiations are being finalized with Chico’s, White House/Black Market, Coldwater Creek, Lane Bryant, and numerous other upscale restaurants and retailers, including a national bookstore, soon to be announced.Status: Construction to start fall 2007, with an anticipated completion date of fall 2008.
For an incomparable shopping and leisure experience, Pearland Town Center offers, among its 1.2 million total sq. ft., a 710,000-sq.-ft., open-air lifestyle center anchored by Dillard’s and Macy’s. Conveniently located at FM 518 and Highway 288, Pearland Town Center will be situated on 147 acres of premium retail space within the greater Houston metropolitan corridor.
The signature open-air, mixed-use destination will provide a distinctly different lifestyle experience, featuring unique design elements and architecture influenced by Pearland’s heritage. Canopies, trellises, awnings and colonnades will frame the facade of the storefronts. Pearland Town Center’s warm and inviting pedestrian environment will be highlighted by tree-lined boulevards, convenient curbside parking, beautiful landscaping, a decorative water feature, a community events pavilion and walking paths.
The Courtyard by Marriott will add yet another reason for Pearland Town Center to become one of Houston’s leading destinations. The 110-room, four-story hotel will be located above the lifestyle center near Macy’s. The multi-family residential component of the development will be located above the retail, providing residents with the comforts of home and the convenience of urban living.
Pearland Town Center
Location: Houston (Pearland), TexasSize: 1.2 million-sq.-ft. mixed-use center, featuring a 710,000-sq.-ft. open-air lifestyle center, Courtyard by Marriott, premium office space and a multi-family residential component.Developer: CBL & Associates PropertiesMajor tenants: Anchored by Dillard’s and Macy’s; and featuring Barnes & Noble along with more than 90 specialty retailers and restaurants including Chico’s, White House/Black Market, Ann Taylor Loft, Coldwater Creek, 346 Brooks Bros., Eddie Bauer and junior apparel retailers American Eagle/aerie, Aeropostale, Buckle, Forever 21, Hollister and PacSun.Status: Currently under construction and scheduled to open in August 2008.
The city of Burr Ridge, Ill., wanted to create its first and only central gathering place. Collaborating with village officials, Opus designed Burr Ridge Village Center, a mixed-use development that integrates retail, residential, office and public space.
Opus used new urbanism principles—human-scale design and pedestrian orientation—to design the center. Therefore, everything will be located within a five-minute walk, and there will be a variation in design themes, strong architectural elements, a defined street grid, public art, welcoming outdoor spaces and screened but easily accessible parking and service areas.
Another unique yet challenging aspect of this development is vertical stacking (e.g. first-floor retail and second-floor residential). Opus’ design-build approach, experience and in-house capabilities made it easy to address early-stage conflicts with structural, mechanical and architectural issues, and provide feasible solutions from marketing, construction and eventually residents’ perspectives.
Another special aspect of this center will be Kohler Waters Spa and store. Kohler’s two other spas are located in Kohler, Wis., and St. Andrews, Scotland.
Burr Ridge Village Center
Location: Burr Ridge, Ill., a suburb located 15 minutes west of ChicagoSize: 20-acre, mixed-use/lifestyle center with 200,000 sq. ft. of retail, 33,000 sq. ft. of office condominiums and 193 residential unitsDeveloper: Opus Northwest; designed by Opus Architects & EngineersMajor tenants: Ann Taylor, Ann Taylor Loft, Acorn, Banana Republic, Clarks Shoes, Coldwater Creek, Eddie Bauer, Kohler and Kohler Waters Spa, Limited Too, Lucy, Swoozie’s, Starbucks Coffee, Yankee Candle, Chico’s, White House/Black Market, J. Jill, Topaz, Cooper’s Hawk, Sunglass HutStatus: Construction started in May 2006 and the retail grand opening is scheduled for early November 2007. The residential component will be ready for occupancy starting in early 2008.
Trinity Town Center is a true lifestyle center, comprised of 16 buildings and a parking garage, which is destined to become the Main Street for the Trinity area. Easily accessible from Pasco, Pinellas and Hillsborough counties, Trinity Town Center will provide upscale dining, shopping and entertainment currently unavailable in the area. The pedestrian plaza, which includes a signature Clock Tower and band shell, will feature year-round entertainment, art exhibitions and outside dining and will quickly become one of the most popular gathering places in the region. The unique blend of shopping, dining and office space, when combined with chef-driven restaurants and an elegant outdoor setting, makes this location truly special.
The Trinity area is one of the fastest-growing communities in Florida. The average household income within one mile of the town center is in excess of $100,000, within three miles is in excess of $73,000 and within five miles is in excess of $60,000.
Trinity Town Center
Location: Trinity area of Pasco County, Fla. (northeast corner of Little Road and Trinity Boulevard)Size: 200,000 sq. ft. of retail, office, restaurants and financial servicesDeveloper: Owner is Trinity Town Center, LLP; developer is Quality Holdings of Florida, Inc., and construction company is South Capital Construction, Inc. Architect is Collman & Karsky Architects and engineer is Spring Engineering.Major tenants: Old Harbor Bank; a collection of chef-driven fine dining; casual gathering spots; and unique retail shops. In lease negotiations with national retail tenants, a hospital, health club and medi-spa.Status: Construction is under way, with Phase 1 scheduled for occupancy in October 2007 and Phase 2 scheduled for occupancy beginning February 2008. All phases will be complete by August 2008.
The District at Desert Star will feature numerous restaurants and cafes, specialty shops and entertainment venues, as well as several large-format stores and department stores. In total, there will be more than 125 merchants within the project.
The retail center will also contain two major components: an inner ‘lifestyle’ section with shops, restaurants and at least one department store, and a surrounding array of large-format stores offering everything from electronics to home goods, aligning with the current Vestar “District” development theme. Guests will have the option to shop and relax in the lifestyle portion, or park directly in front of one of the large-format retailers or department stores.
The lifestyle portion of the center will also feature significant spaces for residents and their visitors to see and be seen, hold family outings, and enjoy town-center amenities such as outdoor fireplaces, pop-jet fountains, a video wall, a performance stage, shaded walkways, lush landscape and extensive pedestrian walkways.
The District at Desert Star
Location: North Las Vegas, Nev.Size: 1.2 million sq. ft.Developer: Vestar Development Co., Athena Group and Celebration Centers of AmericaMajor tenants: To be determinedStatus: The center is anticipated for completion late 2009.
In addition to a great tenant mix, The Fountains is an oasis for shoppers who will be surrounded by terrific amenities. The Fountains is true to its name with several marquee water fountains, an abundance of open space including a Main Street center area with a fireplace, serene resting spots and interesting activities. Just off the Main Street is an interactive area, housing a children’s fountain, play area and stage, all surrounded by beautiful landscaping which is in abundance throughout the center.
Location: Roseville, Calif. (part of the Sacramento area)Size: 330,000 sq. ft.Developer: Peter Bollinger Investment Co. and Inter-Cal Real EstateMajor tenants: Signed tenants include Whole Foods Market, Anthropologie, West Elm, Orvis, DSW, Sur La Table, Boudin Bakeries of San Francisco, Z Gallerie, White House/Black Market, Jos. A. Bank, Right Start, Peet’s Coffee & Tea, Chico’s, Soma, Lucy and Coldwater Creek.Status: Ground has been broken and foundations are being poured. Project slated for completion and opening in spring 2008.
This open-air center is located at the northeast quadrant of C.R. 535, which is being extended and widened to six lanes through the project, and the new Western Beltway in the city of Winter Garden, Fla. The 1.15 million-sq.-ft. center combines regional, national and community-scale retail and features lifestyle tenants and restaurants.
Essentially, Winter Garden Village is a mall without a roof, anchored by SuperTarget, Lowe’s, Barnes & Noble and Beall’s Department Store, and will be a welcome addition to the burgeoning West Orange County community of Orlando.
Winter Garden Village at Fowler Groves
Location: Winter Garden, Fla.Size: 1,150,000 sq. ft.Developer: The Sembler Co.Major tenants: SuperTarget, Lowe’s, Beall’s, Old Navy, Best Buy, Barnes & Noble, Coldwater Creek, Chico’s, The Sports Authority. In lease negotiations with Bonefish Grill. Other restaurants include Macaroni Grill, Mimi’s Café, Longhorn Steakhouse and more.Status: Opening fall 2007
The Shoppes at River Crossing is the first open-air, lifestyle center in middle Georgia and the largest retail development in Macon since the Macon Mall was built 30 years ago. The center features a Main Street design, and amenities include wide sidewalks, fountains, lush landscaping, sculptures, a “central green” and attractive lighting.
More than 65% of the space is leased, with another 25% in lease negotiations. Several retailers new to the market will be locating to the center as well as a variety of sit-down and fast-casual restaurants. The Shoppes at River Crossing will serve a 22-county area with almost 400,000 people residing in a 30-mile radius of the center.
Jim Wilson & Associates has assumed the responsibility for the development and construction management. General Growth will manage the center after opening, and both companies are responsible for the leasing of the $100 million center.
The Shoppes at River Crossing
Location: Macon, Ga.Size: 750,000-sq.-ft. regional, open-air, lifestyle centerDeveloper: Jim Wilson & Associates, General Growth PropertiesMajor tenants: Anchored by a 200,000-sq.-ft. Dillard’s and a 132,000-sq.-ft. Belk (just announced); big-box tenants will include well-known electronics, sporting-goods and shoe retailers. Tenants also to include women’s, men’s and children’s specialty stores, many new to the market.Status: Construction is on target, or slightly ahead, due to the unseasonably dry spring and summer. Grand opening is scheduled for October 19, 2008.
The rapidly growing Village of Pleasant Prairie serves as the gateway to Wisconsin for business and residential expansion from the Chicago area. Ideally located at the major intersection of Route 165 & Route 31, this site serves as one of the only retail-zoned sites within the community.
Main Street Market will include a high-quality regional or nationally based grocer, along with a national drug store, banks, small shops and branded food destinations. The architectural design and landscape standards exhibited by Main Street Market will set the tone for this upscale “Main Street” destination point.
Main Street Market
Location: Pleasant Prairie, Wis. (intersection of State Hwy. 31 and State Hwy. 165)Size: 148,600 sq. ft.Developer: Simon Group, Ltd.Major tenants: Discussions are under way with a number of grocery chains, coffee purveyors, specialty restaurants and service-oriented retailers.Status: Final planning stages, with estimated completion date of 2008
Clemmons Town Center is conveniently positioned along Interstate 40 between the Lewisville-Clemmons Road and the brand new Harper Road/Bermuda Run interchanges, offering unparalleled access. This regional development is the first open-air lifestyle center in the Winston-Salem area—one of the 100 fastest-growing markets in the nation.
With more than 540,000 sq. ft. of premier shopping, dining and entertainment uses, Clemmons Town Center is strategically positioned to be one of the most impressive shopping and personal leisure destinations in the region. Clemmons Town Center will be merchandised to showcase key lifestyle retailers; the center will focus on apparel, lifestyle, home furnishing, and restaurant and cafe uses. The merchandising plan also includes a gourmet market, state-of-the-art theater and a 60,000-sq.-ft. Class A office component.
Clemmons Town Center
Location: Clemmons, N.C. (in the greater Winston-Salem market)Size: 540,000 sq. ft.Developer: Hill Partners, Inc.Major tenants: Current tenants include Panera Bread, Marble Slab Creamery and Dream Dinners, all currently open in a center that has been acquired by Hill Partners and that will be incorporated into the greater Clemmons Town Center development. Hill Partners is in negotiations with lifestyle, apparel, home furnishing, and restaurant/cafe uses, along with a gourmet market and theater to round out the merchandising plan.Status: Scheduled to begin construction in 2008 and open in the spring of 2009
Southpointe Town Center is the crowning final phase of the 800-acre Southpointe development, home to nearly 3 million sq. ft. of upscale office and commercial space and another 500,000 sq. ft. coming soon along with thousands of new homes, a new championship golf course and approximately 900,000 people in the trade area. The trade area includes some of the best residential communities in the South Hills of Pittsburgh, including Mount Lebanon, Upper St. Clair and Peters Township.
The vibrant new lifestyle center was conceived in the spirit of an historic neighborhood that will be the destination shopping experience for customers working and living in the Southpointe development and surrounding area. The beautifully designed and lushly landscaped center of Southpointe Town Center offers a natural invitation to the surrounding Southpointe work force, as well as tourists from a wide radius who visit southwestern Pennsylvania. Upscale fashion stores and a unique blend of retail will be complemented by a wide selection of dining options.
Southpointe Town Center
Location: Metro PittsburghSize: 800,000 sq. ft.Developer: A joint venture with Cullinan Properties, Ltd., and Horizon PropertiesMajor tenants: In lease negotiations with major retailers, entertainment and upscale dining restaurantsStatus: Design is in process and the center is scheduled to open summer 2009.
New Town Shops on Main is located in the heart of a 365-acre mixed-use community featuring 1.7 million sq. ft. of specialty retail, office, residential and entertainment venues.
The center resides in the heart of historic Williamsburg, Va.—and is nestled in a 365-acre, new-urbanism lifestyle community. The lifestyle component houses a powerful group of coanchors—including a 12-screen stadium-style Consolidated Theater that brings 50,000 people per month to the center.
New Town Shops on Main
Location: Monticello Avenue, Williamsburg, Va.Size: 253,000 sq. ft.Developer: Developers Realty Corp.Major tenants: Barnes & Noble, Old Navy, Ann Taylor Loft, PacSun, Panera Bread, Journey’s, Bonefish Grill, Foot Locker, Lane Bryant, New Town CinemasStatus: Now open
It might seem that Nashua, N.H., has just about every retail format possible—its status as a tax-free shopping haven draws shoppers from around New England to a variety of centers. However, it has lacked the latest development type, the open-air, apparel-oriented center now giving new life to retail across the country. That will change in spring 2009, with the grand opening of Nashua Landing, the first lifestyle center in the state.
Nashua Landing will offer 600,000 sq. ft. of better apparel, restaurants, entertainment (including a stadium-seat cinema), and the first Whole Foods Market in the state. The result will be an open-air Main Street center that will regularly draw visitors from around the region as well as the affluent local population.
The center will have three entrances off Daniel Webster Highway, giving it superior access and convenience. The center’s trade area includes towns with some of the highest average household incomes in New England, including Hollis, with an income of $127,647. The 2006 trade area population of 486,385 is expected to rise to 497,793 by 2011.
Its Main Street layout, too, will be new to the state, creating a new mini-downtown. Nashua Landing’s wide sidewalks and traditional architecture will emulate the great towns of New England—but with convenient parking, elegant landscaping and an attention to detail second to none.
Location: Nashua, N.H. (between Exits 1 and 2, just off Route 3)Size: 600,000 sq. ft.Developer: W/S Development, New England Development and Packard DevelopmentMajor tenant: Whole Foods MarketStatus: Opening spring 2009
The initial merchandising plan of this mixed-use Main Street development includes a mix of national and regional restaurants offering a range of service options, including full-service and QSRs, and various types of food, including family fare and specialty/ethnic cuisines. Restaurants are dispersed throughout the project to spread peak-hour demand across various parking areas. From a retail perspective, The Avenue Forsyth provides an opportunity for fashion retailers who have experienced success in the North Point area of Atlanta to locate additional stores to meet the growing demands of the northern reaches of what was originally considered part of the North Point trade area. With increasing congestion and longer travel times resulting from its extraordinary population growth, this northern trade area now demands its own retail node, with replication of the full range of goods and services found elsewhere: fashion shopping, along with national and regional chain restaurants, movie theaters, and “category killer” big boxes such as books and electronics stores, as well as Class A office and other commercial uses.
Amenities of The Avenue Forsyth include fountains, parks and Cousins’ signature bronze statues.
The Avenue Forsyth
Location: North AtlantaSize: 600,000-sq.-ft. lifestyle, Main Street, mixed-use development on 108 acresDeveloper: Cousins PropertiesMajor tenants: AMC Theatres, Barnes & Noble, Circuit City, DSW, Ann Taylor Loft, Bath & Body Works, Chico’s, Chicago Pizza, Claire’s, Coldwater Creek, Ichiban Steak & Sushi, J. Jill, Jos. A. Bank, Kayson’s Grill, Little Azio, Sunglass Hut, Talbots, Victoria’s Secret, White House/Black MarketStatus: Construction commenced in February 2007, with completion slated for spring 2008.
Winn-Dixie team honored for turnaround
JACKSONVILLE, Fla. The team that lead Winn-Dixie Stores’ successful turnaround initiative is being honored by the Turnaround Management Association for the best ‘Mega Company Turnaround’ for 2007. Comprised of financial experts from The Blackstone Group, Skadden, Arps, Slate, Meagher & Flom and Smith Hulsey & Busey, the team helped Winn-Dixie regain the market share and profits it started to lose in the mid 1990s and early 2000s to competitors Publix and Wal-Mart.
Winn-Dixie filed for Chapter 11 bankruptcy in early 2005 after reporting year-to-date losses of $552.8 million or $3.93 per share of common stock and a decline of 4.9% in identical-store sales in its second fiscal quarter over the same period in 2004.
Despite the difficulty of achieving a succesful turnaround, Winn-Dixie began its reorganization effort, while still continuing to operate its core business and preserving jobs. According to the Turnaround Management Association, it created new common stock for five classes of unsecured creditors, with recoveries ranging from about 96% to 53%. The company emerged from bankruptcy on Nov. 21, 2006.
For its fiscal year ended June 27, Winn-Dixie reported adjusted EBITDA of $85.9 million compared to a loss of $27.8 million last year and an identical-store sales increase of 1.6%
Sears ends deal with maternity retailer
PHILADELPHIA Sears and Mothers Work, the world’s leading maternity apparel retailer, will not be renewing their agreement, Mothers Work announced today. Under their current agreement, Mothers Works operates the maternity apparel department in 502 Sears stores through the sale of its Two Hearts Maternity branded merchandise.
Mothers Work said it expects its partnership with Sears to end on June 20, 2008, when it current deal with the company is expected to expire.
Rebecca Matthias, president and ceo of Mothers Work, noted, “While we are disappointed about the end of our relationship with Sears, we feel the decision not to proceed with a renewal is in the best interest of our stockholders since we were unable to reach terms on a renewal which would be favorable for Mothers Work and our stockholders. “