REAL ESTATE

Renovation launches at Somerville Circle shopping center

BY CSA STAFF

Raritan, N.J. Levin Management Corp. said Monday that a facelift is under way at Somerville Circle shopping center in Raritan, N.J.

At the same time, a recent pad site building approval and an upcoming small tenant vacancy will create the first leasing opportunities in several years at the 157,000-sq. ft. retail center. 

A three-phase renovation will include a new facade and upgraded signage.

Tenants include Five Below, Panera Bread, Staples, Petco, Toys“R”Us, P.C. Richard & Son, Burger King and PNC Bank.

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REAL ESTATE

New center approved for Delray Beach, Fla.

BY CSA STAFF

Delray Beach, Fla. With approvals in place, Atlantic Plaza II is poised to transform two city blocks in Delray Beach, Fla., into a suburban downtown mixed-use destination, according to Bill Milmoe, president of CDS International Holdings.

The $325 million Atlantic Plaza II will bring together a specialty retailing opportunity, Class A office space, and upscale residences in a pedestrian-oriented environment. The 8.5-acre site, designed by Vander Ploeg & Associates of Boca Raton, Fla., will take advantage of its urban infill location, with six distinctive three- to five-story buildings that include an outdoor lifestyle center component featuring 132,000 sq. ft. of shops and restaurants, and a 50,000-sq.-ft. two-story retail anchor space.

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Atlantic Plaza II to launch development

BY CSA STAFF

Delray Beach, Fla. CDS International Holdings announced Wednesday that Atlantic Plaza II, a suburban downtown mixed-use destination, is beginning construction. The $325-million project will transform two existing city blocks on “Main and Main” in Delray Beach into a pedestrian-oriented development that includes retail, office and upscale residences.

According to Bill Milmoe, president of CDS, Atlantic Plaza II is taking advantage of the urban infill location to build a 132,000-sq.-ft. outdoor lifestyle center, 106,000 sq. ft. of downtown office space, 197 apartments, townhomes and lofts, and an underground parking for 1,000-plus cars.

“Delray Beach’s downtown is one of the most robust, attractive and successful in the dynamic South Florida market,” said Milmoe. “It has become a well-known regional destination for both residents and tourists from throughout the entire South Florida area.”

Milmoe said the company assembled the property over the past two years and will be working with joint-venture partners to develop the site. Infrastructure work is projected to take approximately 18 months, with development to occur in three phases over the next five to seven years.

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