REAL ESTATE

Simon breaks ground on Gloucester Premium Outlets

BY Katherine Boccaccio

Indianapolis — Simon, in concert with joint-venture partner PREIT-Rubin, has broken ground on Gloucester Premium Outlets in Gloucester Township, New Jersey, a multi-million dollar upscale outlet destination that will bring more than 80 retailers to the southern New Jersey market.

Opening summer 2015, Gloucester Premium Outlets is located in close proximity to the Atlantic City Expressway and the Black Horse Pike. It will feature a Food Pavilion with multiple dining options, an outdoor lounge area, lush landscaping, and significant green space to host community events such as musical performances, charity events and children’s activities.

"We are excited to officially begin development on Gloucester Premium Outlets and would like to thank Gloucester Township and its residents for their tremendous support of this project," said Mark Silvestri, COO, Simon Premium Outlets. "We expect that Gloucester Premium Outlets will be a catalyst for economic growth and vitality for Gloucester Township and the surrounding area, with the creation of 300 to 500 construction jobs and more than 800 full-time and part-time retail jobs upon opening."

Gloucester Premium Outlets is a joint venture between Simon and PREIT-Rubin, Inc. and will be developed and managed by Simon.

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REAL ESTATE

Dillard’s to Anchor Conway’s Central Landing

BY CSA STAFF

Conway, Ark. — The Central Landing retail development now underway in Conway, Arkansas, has added Dillard’s as a key anchor for its first phase, according Jim Wilson & Associates and partner the Conway Development Corp.

“We are happy to announce our commitment to Central Landing, adding a ninth location to our home state of Arkansas,” said Bill Dillard II, CEO of Dillard’s Inc. “Conway is an established community and we look forward to serving this growing market that already knows Dillard’s as the hometown fashion destination.”

The new Dillard’s at Central Landing is planned at 100,000 sq. ft. and will feature the company’s latest advances in store design and construction. Central Landing is a 150-acre planned development featuring, in phase 1, the 250,000-sq.-ft. lifestyle center Shoppes at Central Landing, anchored by Dillard’s department store, and to be joined by over 40 specialty stores and restaurants. Following the retail phase, the development also includes plans for hotels, office buildings, single family residential and apartment homes.

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Whole Foods to anchor 186-acre mixed-use CityLine development

BY Katherine Boccaccio

Richardson, Texas — Commercial real estate development and investment firm KDC announced that Regency Centers will build a 40,000-sq.-ft. store for Whole Foods Market in its CityLine Market development at KDC’s 186-acre mixed-use CityLine project in Richardson, Texas.

“We are excited to have Whole Foods Market as our grocer and enthusiastic about how this offering will enhance the CityLine experience for its residents, office workers and visitors,” said KDC’s Walt Mountford. “Whole Foods’ healthy offerings underscore what CityLine will be: a walkable and livable environment showcasing an ease of lifestyle with parks and trails situated amid businesses, residents and entertainment.”

Whole Foods Market will anchor the initial 81,000-sq.-ft. phase of Regency Centers’ CityLine Market, a retail center located on 11.3 acres at the intersection of Renner Road and Plano Road.

Whole Foods at CityLine is slated to open in spring 2016. “We were attracted to the vibrancy of the urban environment of CityLine, literally on the border of Richardson and Plano,” said Mark Dixon, Southwest Regional President of Whole Foods Market. “The green spaces and parks round out the project for a more tranquil feel within such a busy intersection.”

CityLine features dense urban development with easy access to office, residential, retail, entertainment and parks. The $600 million, 2.3 million-sq.-ft. initial phase of CityLine construction is slated for completion in late 2015. It includes hotel, apartments, a wellness and fitness facility, medical office building and a 3.5-acre park with trails.

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