REAL ESTATE

Opus announces final tenant for Phase I of Shoppes at Fox River

BY Staff Writer

Milwaukee — The Milwaukee office of Opus Development Corp. said that Hallmark Gold Crown will occupy the final space of its Shoppes at Fox River Phase I retail development in Waukesha, Wis.

The addition of Hallmark makes the 273,000-sq.-ft. Phase I 100% occupied, including a 132,000-sq.-ft. Target and a 60,000-sq.-ft. LEED-Silver certified Pick ‘n Save grocery store.

Construction for Phase I of The Shoppes at Fox River started in May 2009, with final construction completed in September 2010. Opus sold Phase I to Ramco-Gershenson Properties Trust at the end of 2010, but remained responsible for securing tenancy. In addition to Hallmark, since the sale, Opus has secured The Cash Store, Associated Bank and Orange Leaf Frozen Yogurt.

The second phase of the development broke ground earlier in May. When fully built-out, Phase II has potential to total 150,000 sq. ft.

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REAL ESTATE

SkyVue Las Vegas Observation Wheel completes first phase

BY Staff Writer

Las Vegas — SkyVue, a 500-sq.-ft. observation wheel taking shape on the Las Vegas Strip, across from Mandalay Bay, has completed the first phase of construction, and has begun excavation on its retail and dining components.

Each side of the wheel will feature a 50,000-sq.-ft. LED screen (the largest in the world), that will host concerts, sporting events, product launches and more. The two-story shopping and dining experience will feature 140,000 sq. ft. of retail space, a 21,000-sq.-ft. convention facility and a food court.

The development is projected to open in fourth quarter 2013.

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Simon: Second Premium Outlet Center will open in Canada

BY Staff Writer

Indianapolis — Simon Property Group, along with Calloway REIT and SmartCentres, have announced plans to develop their second Premium Outlet Center in Canada.

The center will be located in the Town of Mirabel, Quebec, approximately 20 miles north of Montreal. The project, called Montreal Premium Outlets, is a joint venture between Simon, Calloway and SmartCentres. Simon will own 50% of the project.

Phase 1, slated to launch construction in 2013, will be comprised of 350,000 sq. ft. of GLA and 80 stores. The first Simon and Calloway project, Toronto Premium Outlets, is currently under construction and on schedule for a summer 2013 opening.

"Due to the strong response to our first announced project in the Toronto area, we are excited to now bring the Premium Outlets branded concept of upscale outlet shopping to the Montreal area," said John R. Klein, president of Simon’s Premium Outlets platform.

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