Project Profile: Thornwood Village Center
Location: Thornwood, N.Y., in Westchester County
Size: 20,175 sq. ft.
Developer: DLC Management Corp.
Major tenants: Walgreens
DLC completely redeveloped Thornwood Village Center located at the most prominent intersection in central Westchester County. The project involved the partial demolition and reconstruction of a 40-year-old structure, while keeping all tenants open and operating throughout the construction phase. A 12,422-sq.-ft. Walgreens anchors the center, which serves a population of 89,845 residents within a 5-mile radius. Average annual household income is $177,668.
Project Profile: Moorestown Mall
Location: Moorestown, N.J.
Size: 1,001,000 sq. ft.
Major tenants: Lord & Taylor, Marc Vetri’s Osteria, Jose Garces’ Distrito, Firebirds Wood Fired Grill, Regal Premium Experience Theater, Rizzieri Salon & Spa, Francesca’s Collection (in lease negotiations) and a number of best-of-breed regional retailers
Status: Redevelopment to be completed in 2014
Moorestown Mall is currently in the first year of a strategic redevelopment designed to differentiate the property from nearby Cherry Hill Mall and create a South Jersey destination for high-end dining, entertainment and boutique shopping. Upon completion in 2014, Moorestown Mall will welcome upscale residents of the surrounding suburbs, where average home values are $420,000-plus. In addition, there is more than 13.3 million sq. ft. of office space within 5 miles of the mall, ensuring a large daytime population within the trade area.
Project Profile: Belmont Chase
Location: Ashburn, Va.
Size: Approximately 100,000 sq. ft.
Developer: Regency Centers
Major tenants: Whole Foods Market will anchor the project. Regency is currently negotiating with prospective specialty retail, restaurant and health and wellness tenants.
Status: Proposed start is spring 2014, with completion planned for fall 2014.
Belmont Chase will bring the first Whole Foods Market to Loudoun County in Northern Virginia, a dense suburban market with an average annual household income of $132,000. The development will include outdoor gathering areas for dining and relaxation, as well as lakeside vistas from favorite area restaurants. Belmont Chase will combine quality, convenience and experience to meet the needs and desires of the discerning Loudoun County consumer.