REAL ESTATE

Report: Shopping center planned for Shreveport, La.

BY Dan Berthiaume

Shreveport, La. – Houston-based developer NewQuest Properties is reportedly planning to build a roughly 22-acre shopping center in southwest Shreveport, La. According to the Shreveport Times, the center will be known as Camp Forbing Town Center and be located on a 47-acre parcel owned by the YMCA.

The center, slated to open in 2016 at the earliest, will reportedly be anchored by a 120,000-sq.-ft. grocery store. The developers would not comment on which grocery chain would occupy the store, but Kroger representatives said it would not be that company.

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REAL ESTATE

Iconic Vegas mall to receive major renovation

BY Katherine Boccaccio

Las Vegas — 1960s-era The Boulevard Mall will receive a $25 million makeover in hopes of prompting an overall redevelopment of the Maryland Parkway corridor of Las Vegas.

The rehab, to be launched by owner Sansone Cos., which acquired the mall last December for $54.5 million, will be the property’s first major renovation in more than two decades. Sansone is looking at the renovation of the Boulevard as a catalyst in the overall redevelopment effort of the Maryland Parkway corridor.

Officially approved in a Wednesday Planning Commission meeting, construction on the 1.2-million-sq-ft. property will start in mid-2014. Sansone plans to invest approximately $23 to $25 million in the mall’s redevelopment, which will include a new line-up of stores, restaurants and entertainment venues; redesigned façade and landscape; and enhancements to surrounding areas on Maryland Parkway. The changes will take place in several phases and be completed by 2015.

"The Boulevard Mall is renowned in the Las Vegas community but is in need of major updates to restore its relevancy for today’s consumer shopping experience," said Roland Sansone, founder of Sansone Cos. "When we took ownership of the property, we not only saw it as an opportunity to breathe new life into the mall, but to Maryland Parkway as well."

Originally built in 1965, The Boulevard is anchored by Macy’s, Sears, Marshalls, J.C. Penney and Old Navy.

In addition to impending new-tenant announcements, the owners are planning a new façade that faces Maryland Parkway and its corridor. There will be a redesigned entrance including new storefronts, awnings and landscaping, in addition to new modern colors on the exterior.

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REAL ESTATE

Academy continues store-opening March in Midwest

BY Katherine Boccaccio

Katy, Texas — Sporting goods retailer Academy Sports + Outdoors will continue its Midwestern expansion push with plans to open four new stores across Indiana and Kentucky later this fall.

The first two locations — Evansville, Ind., and Owensboro, Ky. — will mark Academy’s entry into both states followed by the opening of stores in Louisville and Middletown, Ky., prior to the holidays.

In total, the four stores, set to start construction shortly, will generate approximately 575 jobs. The chain currently operates 172 stores.

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