REAL ESTATE

Phipps Plaza adds luxury residential component

BY Katherine Boccaccio

Atlanta — Simon Property Group and Columbus Realty have teamed to inject a high-residential component to Simon’s fashionable Phipps Plaza shopping destination in the tony Buckhead area of Atlanta.

The residential project, to be named Domain at Phipps Plaza, will be developed with Columbus Realty Partners.

Domain at Phipps Plaza will consist of 319 mid-rise, urban-style luxury residences; construction is slated to begin in September 2014 with occupancy anticipated in fall 2015. JHP Architecture/Urban Design of Dallas will serve as the architect for the project.

"Domain at Phipps Plaza will provide unsurpassed access to our upscale shopping, entertainment and dining options," said Dewayne Herbert, Phipps Plaza’s mall manager. "The addition of these high-quality residences at Phipps Plaza expands our ability to deliver a lifestyle embellished with luxury and quality, and creates an exciting new place for Atlantans to call home."

Other mall enhancements are already underway at Phipps Plaza. Scheduled to be complete before the holiday season, an extensive interior makeover will provide a fresh new look and feel and meet changing customer needs. Plans include upgraded energy-efficient LED lighting, new interior colors with warm wood accents and updated railings, comfortable lounging areas with Wi-Fi connectivity and device chargers, upgraded restrooms, and the installation of a hotel-like concierge customer service center. Major improvements to parking include new lighting, flooring and automatic doors to welcome customers.

Retail tenants include Gucci, Versace, Jeffrey, Giorgio Armani, Valentino, Hugo Boss and Bally plus Tiffany and Co., and Phipps Plaza is anchored by Nordstrom, Saks Fifth Avenue and Belk. The center also offers dining and entertainment experiences including four white-tablecloth restaurants – Davio’s Northern Italian Steakhouse, The Tavern, Twist, and YEBO Restaurant & Bar – a 14-screen AMC Theatre with luxury recliners in all auditoriums, and Legoland Discovery Center.

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REAL ESTATE

Streets of West Chester launches Phase II of retail development

BY Katherine Boccaccio

Cincinnati — The Streets of West Chester, a 167,638-sq.-ft. lifestyle center near Cincinnati, is kicking off the pre-development leasing and marketing for the second phase of its retail center with a 200,000-sq.-ft. planned expansion slated to open in spring 2016.

The Streets of West Chester expansion will join the opening of the new Bass Pro, beginning construction this summer, adjacent to The Streets, and will provide shoppers with new retail, restaurants and entertainment.

“The development of these two new retail locations represents the largest concentration of boutique-like retail amenities in the West Chester area,” said Judith C. Boyko, Township Administrator of West Chester. “These are the type of retail destinations our diverse and sophisticated residents demand, and we expect both to be very successful footholds in our retail fabric.”

A significant expansion has always been part of the master plan for the Streets of West Chester, according to owner LPC Retail. The company purchased the center earlier this year, and is moving forward with the original vision for the property, which includes specialty and big-box retail space as well as additional restaurant destinations. The first phase of The Streets of West Chester includes 167,638 sq. ft. of premier retail, entertaining and dining amenities. The center is currently anchored by AMC West Chester 18Theatres, Barnes & Noble, P.F. Chang’s China Bistro, Bravo! Cucina Italiana, Mitchell’s Fish Market, and the recently added Ann Taylor Loft.

At the end of 2013, Bass Pro Shops purchased 22 acres just south of the Streets of West Chester for its new store.

“We consider this location ground zero for the Greater Cincinnati and Dayton markets, and look forward to serving the entire region with a new retail attraction that will benefit from its proximity to I-275, as well as its adjacency to the existing and future retail amenities,” said Mike Dunham, director of real estate at Bass Pro. “We’re beginning construction this summer, with plans to open in 2015.”

To capitalize on the current retail momentum, LPC Retail has appointed JLL’s local retail leasing experts to bring the phase two of its development to life. JLL’s Jenn Williams and Melissa Ruther will spearhead the leasing of the retail expansion. Projected ground-breaking is scheduled for fall 2015 with completion scheduled in spring 2016.

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REAL ESTATE

Winick leases three stores in Nolita to fill repositioned retail

BY Katherine Boccaccio

New York — Winick Realty Group announced three new retail leases at 400 Broome Street, fronting Kenmare, Cleveland and Broome Streets in Manhattan’s Nolita neighborhood.

Aaron S. Fishbein and Darrell Rubens of Winick Realty Group represented landlord Coral Broome Street LLC as they repositioned and upgraded these ground-floor retail opportunities.

“Ownership white-boxed the spaces, upgraded the utilities and installed new floor-to-ceiling glass storefronts. These improvements allowed us to attract top-notch tenants,” said Fishbein.

Fillmore and 5th Designer Consignment, part of parent company Crossroads Trading Inc., a California-based clothing store with locations in Palo Alto and San Francisco, leased its first New York store in the building under the address 398 Broome Street. The 1,680-sq.-ft. ground-floor space includes a basement and is expected to open in third quarter 2014.

On the Kenmare Street side of the building, Sweetgreen leased its third Manhattan location at 100 Kenmare Street. Also expected to open in third quarter 2014, Sweetgreen will occupy 2,400 sq. ft. on the ground floor and 1,600 sq. ft. of basement space that was recently built by ownership.

At 7 Cleveland Place, Paul Fox Salon signed a lease for approximately 950 sq. ft. on the ground floor.

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