REAL ESTATE

Scottsdale Pavilions undergoes improvements

BY CSA STAFF

Scottsdale, Ariz. De Rito Partners Development, owners of the Scottsdale Pavilions, said that some significant improvements have been made en route to a full-scale mall makeover.

Man-made lakes formerly used as retention ponds for the wastewater treatment plan have been drained, said De Rito, and the property has been connected to the community sewer system.

“We will be developing hotels, restaurants, banks, and retail businesses. There will be more for the entire community to enjoy as a result of these much-needed improvements,” said Chuck Carlise, president of De Rito Partners.

De Rito is investing more than $11 million for property improvements.

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REAL ESTATE

The Legends at Sparks Marina opens

BY CSA STAFF

Reno, Nev. Kansas City-based RED Development said Monday that the first phase of its Legends at Sparks Marina in Sparks, Nev., opened last week. The $1.1 billion project will eventually encompass 1 million sq. ft. of retail, restaurant and entertainment space.

The first phase of tenants includes 29 retailers and restaurants, but by the first week of August, about 47 tenants are expected to be open as part of the first phase, according to RED.

First-phase tenants already open include Scheels All Sports (295,000 sq. ft.), Saks Off 5th (28,000 sq. ft.), Target, Best Buy, Louisiana Kitchen, Olive Garden, Samsonite Factory Outlet, Easy Spirit, Nine West Outlet, Ann Taylor Factory, Bose Factory Store, Banana Republic Factory Store, BCBG Max Azria, Gap Outlet, Tommy Hilfiger, OshKosh B’Gosh, Carter’s, Gymboree Outlet, BCBGirls, Vans, Guess Factory Store, Bath & Body Works, Jones New York, Kasper, Nike Factory Store, GameStop, Lucky Nails and GNC.

By early August, Off Broadway Shoe Warehouse, Subway, Sprint, Freshberry, Converse, Harry & David, Volcom, Adidas, Lane Bryant, Fuddrucker’s, Rack And Pinz bowling, Cadillac Ranch, Grimaldi’s Coal Brick Oven Pizza, Styles For Less, Old Farmer’s Almanac and Kenneth Cole are expected to open.

As part of the second phase, a 13-screen IMAX theatre and three more restaurants are expected to join the ranks.

The Legends has also planned to include an upscale casino resort developed by Las Vegas-based Olympia Gaming, but that’s been delayed until sufficient capital can be raised. RED estimates that the combined development will draw more than 800,000 tourists to the Reno-Sparks area and generate $600 million in taxable sales annually.

See related story on The Legends at Sparks Marina here.

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REAL ESTATE

Express inks deal for space at Patriot Place

BY CSA STAFF

Foxborough, Mass. Express has leased 8,750 sq. ft. of space at the 1.3-million-sq.-ft. retail, dining and entertainment destination Patriot Place. The new store is slated to open in mid-August.

Patriot Place also features a sports and event venue, conference and exhibition facilities, a four-star hotel, and a healthcare center.

Other recent additions to Patriot Place include Tavolino Pizza Gourmet, which celebrated its grand opening on May 20, and Renaissance Hotel & Spa, which celebrated its grand opening on June 10.

Patriot Place is a super-regional outdoor mixed-use center that is a development of NPP Development LLC, an affiliate of The Kraft Group. Leasing is handled by Chattanooga, Tenn.-based CBL & Associates Properties.

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