REAL ESTATE

Redmond Town Center announces Guitar Center launch

BY Katherine Boccaccio

Redmond, Wash.Guitar Center and four additional new retailers and restaurants are slated to open at Redmond Town Center, in Redmond, Wash., later this year and into next spring.

Guitar Center, which is set for a spring 2015 opening, will be joined by four additional brands, Big 5 Sporting Goods, Evereve, Cow Chip Cookies and Jujubeet, for a total of 27,300 sq. ft. The new merchants join current tenants REI, Macy’s, Eddie Bauer, The Gap, 24 Hour Fitness, and Victoria’s Secret, as well as two hotels–Redmond Marriott Town Center and Residence Inn by Marriott–and several major office tenants, including Microsoft, Lake Washington School District, and the corporate headquarters for AT&T.

Redmond Town Center is also undergoing a major enhancement of its common areas, including expansion of the open-air, pedestrian-friendly space near the Center Court. Renovations include a redesign of the center’s water features, the installation of an urban living room around a new, natural stone fireplace, and modernized light standards for energy efficiency and enhanced visibility on both levels of the two-story structure. The center will also expand its way-finding signage and landscaping program with more permanent and seasonal plantings throughout the complex. The landscaping enhancements were developed by Hewitt Seattle.

“With an influx of high-income individuals moving to this area and a booming high-tech market, Redmond Town Center is poised to offer Eastside residents and workers dining, entertainment, recreation and shopping experiences that are convenient and fit their active lifestyles,” said property manager Courtney Klein.

Guitar Center will open a 15,000-sq.-ft. store next spring on the second level above Eddie Bauer. Evereve, featuring casual apparel for women, will open the first week of November in 2,300 sq. ft. at Center Court, across from Starbucks. Jujubeet opening in 700 sq. ft. at street level center court next to Janie & Jack. Cow Chip Cookies will return to the center in November in 300 sq. ft. next to Z Gallerie. And Big 5 Sporting Goods will relocate in December to 9,000 sq. ft. next to Cost Plus and 24 Hour Fitness.

Redmond Town Center, at 700,000 sq. ft., features 110 shops, restaurants and entertainment venues in an outdoor lifestyle center environment, as well as two hotels and several major office tenants. It is owned and managed by JSH Properties.

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REAL ESTATE

JLL adds retail expertise in San Francisco Bay area

BY CSA STAFF

San FranciscoJLL announced that it has expanded its retail brokerage practice in Northern California with the addition of Jamie Kendall as VP. Kendall will be based in the firm’s San Francisco office, and will partner with the firm’s existing retail, agency leasing and investment sales teams to help maximize the value of retail assets for JLL’s growing client base in downtown San Francisco.

Kendall will have a broad leasing focus, spanning shopping malls to street-level space in trophy office buildings.

“The continued growth we’ve witnessed in the Bay Area’s office and residential sectors have given rise to tremendous opportunities for property owners to feed the need for expanded retail amenities of all types from high-end luxury goods to specialty shops, national and regional grocery chains, and franchises to locally sourced artisanal products,” said Elizabeth Hearle, Pacific Northwest Market Director for JLL.

“By expanding our retail practice with the addition of Jamie, we are better able to provide our clients with the knowledge, resources and transactional capabilities to fully leverage retail opportunities within theirSan Francisco portfolios.”

Jamie Kendall spent the last six years as a leasing executive at Vornado Realty Trust in New York, where she worked with retailers including Coach, TopShop, M.A.C. Cosmetics,U.S. Polo Association, Sunglass Hut and others as well as restaurants such as Planet Hollywood, Cake Boss Cafe and Buca Di Beppo.

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Panera Bread to make debut in Culver City

BY Katherine Boccaccio

Los AngelesReal estate investment and services firm Kennedy Wilson has negotiated a 10-year retail lease for Panera Bread, the chain’s first location in Culver City, Calif. The 5,100-sq.-ft. property is located at 10990 Jefferson Blvd. within the Studio Village Center.

Anchored by Pavilions, the center is 100% occupied. Panera Bread joins a number of other national retail tenants including, T.J. Maxx, Rite Aid, Toys ‘R’ Us, Pier 1 Imports, PetSmart and Anna’s Linens.

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