REAL ESTATE

Simon to develop Phoenix Premium Outlets

BY CSA STAFF

Indianapolis –Simon Property Group Inc. announced that its Premium Outlets division has reached an agreement with the Gila River Indian Community’s Wild Horse Pass Development Authority to develop Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas.

The center, to be located in Chandler, Ariz., will be adjacent to the Wild Horse Pass Hotel & Casino in the Wild Horse Development. Phase I of the project will be comprised of 360,000 sq. ft., housing approximately 90 outlet stores featuring high-quality designer and name brands.

Construction is expected to start in the first quarter of 2012 with a spring 2013 opening.

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REAL ESTATE

Village of Rochester Hills adds to tenant roster

BY CSA STAFF

Rochester Hills, Mich. –Birmingham, Mich.-based Robert B. Aikens & Associates LLC announced the addition of two new tenants, Portrait Innovations and Flat Top Grill, to its Village of Rochester Hills lifestyle center project in Rochester Hills, Mich.

The Village of Rochester Hills Portrait Innovations location, which opened May 10th, is the company’s eighth store in Michigan. Flat Top Grill will replace Baja Fresh as one of the center’s nine eating establishments.

Opened in 2002, the Village of Rochester Hills is a 375,000-sq.-ft. outdoor shopping district located in the heart of Rochester Hills, Mich. The Village was the first project in Michigan to utilize the lifestyle streetscape concept and is home to national and local retailers in various segments, including apparel, dining, home furnishings and beauty.

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REAL ESTATE

City of Frisco, Texas to partner with Forest City and Ernest Mahard Jr. to develop mixed-use project

BY CSA STAFF

Frisco, Texas –The City of Frisco executed a Memorandum of Understanding with Forest City Development and its partner, Ernest Mahard Jr. to develop a 320-acre mixed-use development on the southwest corner of the Dallas North Tollway and U.S. Highway 380.

Bounded by Virginia Parkway and County Road 26, this development will encompass retail, residential, office, entertainment, hospitality, municipal parks and services.

“We’re very excited to forge a new, public/private partnership with Forest City Development, representing the largest mixed-use project planned for Frisco in the near future,” said Mayor Maher Maso. “The caliber of this project will serve as an economic catalyst for quality development in the northern part of our city and further enhance Frisco’s ever-growing reputation as a retail and entertainment destination. This venture is the culmination of many years of visioning and hard work. We’re anxious to get started and welcome Forest City to Frisco.”

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