Retail Springs anew in The Lone Star State
In 2000, the population of Conroe, Texas, north of Houston, was under 40,000. Today, the city named the fastest-growing in America (per U.S. Census Bureau) counts more than 80,000 citizens and newcomers are spilling over into neighboring communities.
One such is Spring, where the Houston Chronicle reports an upswing in new retail developments to keep up with the population.
This fall Regency Centers will open The Market at Springwoods Village in the town, a 167,231-sq.-ft. open-air center that will house Kroger, Mod Super Fast Pizza, Zoe’s Kitchen, Jinya Ramen Bar, and Natural Pawz. Springwoods Village is a master-planned community.
Also opening in town this fall will be The Shops at Spring Village, which so far has AT&T and Dunkin' Donuts lined up as tenants. It is being developed by Capital Retail Properties, which owns more than 50 commercial properties in the Houston area.
Nordstrom Rack to open second Milwaukee location
Nordstrom will be erecting its second off-price Nordstrom Rack store in Milwaukee. The Seattle-based retailer has announced plans for a 26,800-sq.-ft. location at the Bayshore Town Center in the city’s North Shore.
The Nordstrom Rack will be erected on the site of a vacated Sears at the Olshan Properties center, where a Total Wine & More store is also slated to take up some of the space.
Nordstrom Rack will anchor the north end of the 45-acre complex, which will also feature a new mall entrance and expanded parking. Neighboring retailers there include H&M, Ulta Beauty, iPic Cineplex, Trader Joe's, and Kohl's.
"We are thrilled to once again be partnering with Nordstrom Rack at another one of our leading multi-use shopping destinations," said Ken Marshall, Head of Retail at Olshan Properties.
Remade center means new train station for Illinois town
The town managers of New Lenox, Illinois, needed a new train station, so they bought a shopping center.
It was three years ago that Mayor Tim Baldermann and New Lenox purchased the Rock Island Station Shopping Center, according to the Chicago Tribune. It invested more than $3 million in the site, which included buying out the businesses of the four stores there, demolishing them, and doing an environmental clean-up.
New Lenox absorbed a loss in selling the site last year to TMC Illinois 2 LLC and Heidner Properties for $2.25 million. But it’s the tax revenue the reclaimed center will generate over the coming years that will provide funds for the town to build a new Metra train station in an adjacent lot.
The new Rock Island Station center will be anchored by a 13,000-sq.-ft. CVS and include up to five other stores. Last week, New Lenox officials approved the project in a unanimous vote.
Baldermann said that had the town not bought the center — which consisted of a bar, a dry cleaner, and a long-vacant restaurant — the lots would have sold individually and made the redevelopment nearly impossible.
But, added the mayor, the town board “very wisely stepped in.”
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