REAL ESTATE

PLYMOUTH MEETING MALL

BY CSA STAFF

Location: Plymouth Meeting, Pennsylvania

Size: 948,000 sq. ft.

Owner: PREIT

Key Tenants: Whole Foods Market, Dave & Buster’s, Redstone American Grill, P.F. Chang’s, Benihana, California Pizza Kitchen, Zoes Kitchen, American Eagle Outfitters, Charming Charlie, Express, Gymboree, H&M, J.Crew Factory, Orvis

Other uses/components: Retail and grocery-anchored center, restaurants and entertainment. The project is situated in an optimal location with potential to add additional uses. Status: Redevelopment completed in 2009, next phase of renovation TBD.

PREIT is currently preparing Plymouth Meeting Mall for repositioning of the property that will focus on adding lifestyle amenities, additional uses and upgraded retail offerings for the surrounding community it serves. The center is located prominently at the intersection of four of Philadelphia’s most heavily trafficked highways within a well-established trade area with strong demographics. Already a thriving mixed-use center, Plymouth Meeting Mall is anchored by Whole Foods Market; Dave & Busters; Mercy Health System, a two-level ambulatory health and wellness facility; as well as fine-dining options, such as Redstone American Grill, P.F. Chang’s and an AMC Theatre that is currently undergoing a $6 million upgrade. Plymouth Meeting Mall is poised to welcome a host of new tenants spanning a variety of uses that complement the vibrancy of this mixed-use center.

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REAL ESTATE

POWER & LIGHT DISTRICT

BY CSA STAFF

Location: Kansas City, Missouri

Size: Nine city blocks, 600,000 sq. ft.

Owner: The Cordish Companies

Key Tenants: Jos. A. Bank, Zafar Salon, Spa & Boutique, Envolve Boutique, The Garment District KC, Cosentino’s Downtown Market, Yard House, Alamo Drafthouse, Howl at the Moon and more

Other uses/components: 50-plus restaurants, retail and entertainment venues and Kansas City Live!, along with four planned luxury high-rise apartment buildings

Status: District is complete with the exception of residential towers. The first residential tower will be opening in November 2015.

The Kansas City Power & Light District is a dynamic eight-city-block retail, entertainment, office and residential district located in the heart of downtown Kansas City and directly adjacent to the 21,000-seat Sprint Center Arena. A major component of the Power & Light District is Kansas City Live!, a one-block open-air public events plaza that is animated by an eclectic mix of 15 restaurant and entertainment venues. The $850 million district is the largest and most exciting development in the midwestern United States and was the recipient of the Urban Land Institute Award of Excellence in 2009. Since its redevelopment, the Power & Light District has become a source of tremendous community pride and resulted in the wholesale positive change in perceptions regarding downtown Kansas City within the city, the state and the country. The Power & Light District continues to serve as an important catalyst for the further revitalization of downtown Kansas City.

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REAL ESTATE

THE SHOPS AT 1700 & RESIDENCES AT 1700

BY CSA STAFF

Location: Minnetonka, Minnesota

Size: 155,000 sq. ft.

Owner: 1700 Plymouth LLC (a joint venture, including co-developers Paster Properties LLC and Bader Development LLC)

Key Tenants: Signed lease with Highland Bank, and currently in negotiations with several retailers

Other uses/components: 115 Market Rate Apartments (five levels), 16,000 sq. ft. of ground-floor retail shops, two separate drive-throughs for retailers

Status: Construction activities began in August 2015, and the development is scheduled to open in early 2017. The developers will be moving Highland Bank into a temporary operating facility on the project site during the construction period to ensure the bank can remain open for business.

This development is introducing a blend of commercial and multifamily residential space to a regional mall area that is primarily dominated by retail and office use. The mixed-use project will include multi-tenant retail space on the ground floor and 115 luxury apartment units featuring oversized windows and generous balconies. Amenities will include heated underground parking, an elevated outdoor pool deck, lounge areas, a fire pit, an indoor clubroom and fitness center. Two levels of underground parking with 190 stalls will be provided for the apartment residents, and 80 surface parking stalls will serve retail uses. Furthermore, this project will feature two separate drive-throughs, one that will be utilized by Highland Bank and the other that will be designated for a future retailer.

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