Rhode Island Station breaks ground
Washington, D.C. Urban Atlantic and A&R Development Corp. said they have broken ground on Rhode Island Station, a $107 million public-private, mixed-use, transit-oriented development that will bring 274 Class A apartments, 70,000 sq. ft. of Main Street retail, and a new Metro commuter garage to the Rhode Island Avenue Metro Station in Northeast Washington, D.C.
Championed by Washington, D.C. Mayor Adrian M. Fenty and the District of Columbia City Council, Rhode Island Station is a precedent-setting public-private partnership that is the first mixed-use residential and retail development in the nation to combine U.S. Department of Housing and Urban Development multifamily financing with U.S. Department of the Treasury New Markets Tax Credit equity.
The project will create a 24/7 town center in the heart of the Rhode Island Avenue corridor on Metro’s Red Line. With its 70,000 sq. ft. of retail space, Rhode Island Station plans to build on the success of the adjacent Home Depot-Giant Foods shopping center with a mix of national and local restaurants, neighborhood convenience stores, and a satellite office of the District of Columbia Department of Motor Vehicles.
The developers designated 10% of the retail space to be leased to local businesses.
The transit-oriented project has been recognized for its smart growth and green design, including immediate access to public transportation, shared parking, walkability and connectivity, a green roof, and energy-efficient systems and building materials.
Construction is underway, with the Metro garage expected to open in the summer of 2011 and the retail and residential expected to begin opening in the spring of 2012.
RECon Booth Directory and Exhibitor Highlights
Las Vegas In preparation for the International Council of Shopping Centers’ annual RECon show, to be held May 23-25, 2010, at the Las Vegas Convention Center, Chain Store Age offers the following directory of key booth locations at the show, as well as what each of our featured exhibitors will be highlighting at the convention.
Companies are arranged alphabetically; call early to make appointments to discuss leasing opportunities or product/solution demonstrations.
Buxton RECon booth address: 577 V St. (South Hall) Show highlight: Showcased at the convention will be Buxton’s exclusive offering of Micromarketer Desktop, developed by Experian, a desktop solution allowing clients to leverage Buxton’s model while conducting their own market planning scenerios. Buxton has also formed a partnership with Lucernex Technologies, providing customers with an integrated workplace management system to track all aspects of their stores from planning and opening to maturity.
Casto RECon booth address: C1831 (Central Hall, 18th Ave. and H St.)
Show highlight: Casto, a fully integrated real estate organization based in Columbus, Ohio since 1926, currently has 3,000,000+ sq. ft. of retail in development and redevelopment in Ohio, Florida, North Carolina and Illinois, including Albany Park in Columbus, Ohio, Park West Village in Cary, N.C., and Randhurst Village in Mt. Prospect, Ill.
Developers Diversified Realty RECon booth address: S500 U St. (first floor of South Hall 1) Show highlight: Developers Diversified owns and manages a dynamic portfolio of retail and development properties in North and South America and the Caribbean. Developers Diversified’s mission is to be the most admired provider of retail destinations and the first consideration for retailers and shoppers. Visit us at S 500 U Street to learn more.
DJM Realty RECon booth address: C170 F St. (at 17th Ave., Central Hall) Show highlight: DJM Realty, a Gordon Brothers Group company, specializes in real estate dispositions, facilitating growth, renegotiations of occupancy costs, acquisitions, valuations and capital solutions. DJM Realty has serviced the nation’s most recognizable brands in healthy and distressed situations. DJM Realty is headquartered in New York with offices in Los Angeles, Boston and Chicago. For more information, visit djmrealty.com.
DLC Management Corp. RECon booth address: S2235 (corner of R St. and 22nd Ave., upper South Hall) Show highlight: DLC Management Corp. owns and operates a portfolio of 97 open-air shopping centers, totaling over 16.5 million sq. ft. of retail space in 26 states. We’re coming to Las Vegas ready to do deals- Haven’t set up an appointment to meet with us at RECon yet? There’s still time! Call (914) 631-3131 or visit dlcmgmt.com for leasing and portfolio information.
Inland Real Estate Group of Cos. RECon booth address: C1027 G St. (at 10th Ave., Central Hall) Show highlight: At RECon 2010, The Inland Real Estate Group of Cos. is focused on leasing success. With more than 73 million sq. ft. of retail space nationwide, from power and lifestyle centers to strong neighborhood centers, Inland has the right location for national and local retailers. Visit us at RECon 2010 — Central Hall, C1027 G Street at 10th Avenue.
Jones Lang LaSalle RECon booth address: C1001 (Central Hall) Show highlight: Jones Lang LaSalle Retail begins this year’s RECon in a celebratory mood having achieved pole position in Chain Store Age’s “21st annual survey of Fastest-Growing Managers.” Experts from all facets of its platform will be at the show including representatives from Europe, Asia and Latin America. It will also showcase its research paper on ‘How to Harness the Power of Digital Media’ and take its own advice by tweeting and blogging live from the floor.
Lucernex Technologies RECon booth address: S467 P St. (South Hall 3&4) Show highlight: Lucernex Technologies provides corporate real estate professionals with powerful, Web-based software tools for location development and management. At RECon 2010, Lucernex will be highlighting Lx IWMS, its affordable Location Performance Management IWMS and its newest offering, Lx Contracts, designed for lease administration and contract management.
Oklahoma City Chamber RECon booth address: S340 N St. (South Hall) Show highlight: Oklahoma City offers an opportunity for those interested in catching a ride on one of the nation’s strongest economies. It’s a city that’s truly reinvented itself into one of the South’s major success stories.
Construction cranes are everywhere. The city is investing billions in parks, trails, river rapids and other key projects. The private industry is matching that with a 50-story headquarters building and new biomedical facilities. With low projected vacancy, low unemployment, and the nation’s fastest growing per capita income, no wonder Marcus & Millichap recently reported Oklahoma City as one of the nation’s Top Retail Markets. Visit us at RECon 2010 and put your project in prime position for success in Oklahoma City.
PREIT RECon booth address: S500 W St. (South Hall) Show highlight: PREIT’s full leasing team is geared up for RECon 2010. We will focus on creating mutually beneficial opportunities for our longstanding retail partners while honing emerging relationships. For 50 years our relationships have been built on trust. We will continue the tradition in Las Vegas. Call (215) 875-0711 to schedule your appointment.
RCS Real Estate Advisors Show highlight: RCS Real Estate Advisors specializes in analyzing real estate portfolios, reducing occupancy costs and expanding footprints. Key transactional services include portfolio assessments, renewals, lease restructuring, terminations, dispositions and site selection. RCS also goes beyond renewals, terminations and other transactions to provide continuous management of a client’s portfolio, ensuring the real estate performs at its optimal level. Contact us to schedule a meeting at the upcoming RECon convention in Las Vegas.
Regency Centers RECon booth address: C1855 (Central Hall, 18th Ave. and K St.) Show highlight: Regency Centers is the leading national developer, owner and operator of grocery-anchored and community shopping centers. Regency’s portfolio of 400 centers, totaling 53 million sq. ft., is located in top markets across the country. These centers are distinguished by attractive demographics, densely populated trade areas, strong retailers and market-dominant anchors. Visit us at RECon 2010, and “Move up to Regency.”
Steiner + Associates RECon booth address: C1124 11th Ave. (Central Hall) Show highlight: At RECon 2010, Steiner + Associates will be showcasing the recently opened Peninsula Town Center in Hampton, Va; Easton Town Center in Columbus, Ohio; Zona Rosa in Kansas City, Mo.; Bayshore in Milwaukee; The Greene in Dayton, Ohio. Steiner + Associates is a full-service real estate development company headquartered in Columbus, Ohio, that specializes in the creation of New Urban Retail Town Centers.
Virtual Premise RECon booth address: S6653 (South Hall 1&2) Show highlight: Virtual Premise, a leading SaaS provider of real estate information management solutions, will showcase its newly enhanced VP Retail Edition that delivers better business intelligence to monitor store performance and strategy execution. With VP, you can make confident, insightful real estate decisions that make the biggest positive impact on your company.
Trans World closing F.Y.E. in suburban Albany
Albany, N.Y. The F.Y.E. (For Your Entertainment) is closing its store at Latham Farms Shopping Center in suburban Albany, N.Y.
The music and video specialty store is having a going-out-of-business sale before it closes July 9.
F.Y.E. is owned by Trans World Entertainment.
“This was a lease expiration,” Trans World CFO John Sullivan said. “We have a number of leases that expire. We’re either able to make a good deal or not. This is one of those where we just couldn’t come to terms.”
Trans World closed 157 stores during the last fiscal year, including 133 in the fourth quarter. The company ended the fiscal year with 557 stores, including two new ones.