REAL ESTATE

Regency plans redevelopment for Kings Park

BY Michael Fickes

Washington, D.C. — Regency Centers plans to redevelop Kings Park Shopping Center in the Northern Virginia town of Burke. The work will include a facelift, enhanced common areas and structural expansion.

“When Giant expressed a desire to expand their existing 28,161-sq.-ft. store to 52,000 sq. ft., we saw the opportunity to improve the center overall and provide long-term benefit to the community,” said Alan Roth, senior VP and senior market officer for Regency Centers. “Giant will close its store June 19 and build an expanded store to serve the 125,000+ residents within three miles of Kings Park.”

Serving as a neighborhood gathering spot for the Burke community, Kings Park is 100% leased.

Façade enhancements will commence in July. By November, the common area enhancements, including repaving the parking lot and enhancing the patio area and façade will be completed. By spring of next year, the redevelopment is slated to wrap up with the re-opening of Giant.

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REAL ESTATE

Macerich and HGTV prep holiday marketing effort

BY Michael Fickes

Santa Monica, Calif. — Macerich is collaborating with HGTV, a home and lifestyle cable network, to create Santa HQ, an interactive holiday experience, at 10 Macerich malls. The initiative aims to add digital and social media to the traditional holiday experience of visiting Santa.

Santa HQ re-envisions Santa’s workshop for the digital age — who’s to say that Santa hasn’t already done the same. The Macerich mall installations offer interactive technology enabling guests to share individual experiences with friends on social media as soon as possible.

Macerich collaborated with Pop2Life, an experiential marketing agency, to conceive and produce Santa HQ.

Participating Macerich properties include Chandler Fashion Center in Chandler, Ariz.; Danbury Fair Mall in Danbury, Connecticut; Deptford Mall in Deptford, New Jersey; FlatIron Crossing in Broomfield, Colorado; Lakewood Center in Lakewood, California; Los Cerritos Center in Cerritos, California; Scottsdale Fashion Square in Scottsdale, Arizona; Tysons Corner Center near Washington, D.C.; Vintage Faire in Modesto, California; and Washington Square near Portland, Oregon.

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Walmart.com welcomed in Indiana

BY CSA STAFF

The Indianapolis suburb of Plainview will be home to Walmart’s newest dedicated e-commerce fulfillment center when the 1.2 million-sq.-ft. facility opens early next year.

The retailer indicated in early June that Indiana would be home to its third e-commerce fulfillment center but did not identify the community at the time. Walmart’s other online dedicated centers are located in Texas and Pennsylvania. The newest facility will employ approximately 300 people with hiring expected to begin in October.

"By combining large-scale online fulfillment centers with Walmart’s distribution centers, world-class transportation network and 4,200 stores, we have the ability to get incredibly close to our customers to deliver orders faster and at a lower cost," said Brent Beabout, SVP of supply chain and logistics for Walmart Global eCommerce. "This center alone will allow cost-effective delivery to more than 160 million people in just one to two days."

As an incentive to locate the facility in Indiana, the state’s Economic Development Corporation offered Walmart nearly $3 million in tax credits and $200,000 in training grants based on the company’s job creation plan. The credits are performance-based, so Walmart can’t claim the incentives until resident of the state are actually hired.

"Plainfield is pleased to welcome Walmart to Plainfield in the AllPoints Midwest industrial business park," said Robin Brandgard, president of the Plainfield Town Council. "They join many other Fortune 500 companies who have chosen to locate distribution and light industrial facilities in our premier business parks, currently with over 32 million square feet of space under roof.

"When the world’s largest companies consider where to grow, Indiana is skyrocketing to the top of the location list," said Governor Mike Pence. "Walmart would be hard pressed to find a stronger business climate and commitment to lower taxes and less regulation than the environment offered in the Hoosier State. We are thrilled to welcome this global company’s growth in Indiana, a state that works."

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