REAL ESTATE

StepStone awarded management contract for The Shops at La Jolla

BY Staff Writer

San Diego — StepStone Real Estate Services said it has been awarded the property management contract for The Shops at La Jolla Village, located in La Jolla, Calif.

The 100% leased center is the dominant community retail center in the La Jolla/University Town Center market. The 165,597-sq.-ft. center features more than 40 stores, restaurants and services, including Whole Foods Market, Landmark Theatres, CVS Pharmacy, Aaron Brothers, B.J. Pizza & Brewery, Peet’s Coffee & Tea and Verizon Wireless.

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REAL ESTATE

Levin secures three new management and leasing assignments

BY Staff Writer

North Plainfield, N.J. — Levin Management Corp. announced that it has secured three new management and leasing assignments involving six properties in New York and New Jersey.

The first appointment involves a portfolio of four, privately owned shopping centers in Tappan, N.Y., totaling 76,000 sq. ft. The properties include Tappan Plaza, an adjacent 15,000-sq.-ft. center anchored by Retro Fitness, and twin strip centers Stateline Plaza I and Stateline Plaza II.

The second assignment involves 16,000 sq. ft. of urban street retail in Irvington, N.J., and the third a 15,000-sq.-ft., bank-owned property in central New Jersey.

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REAL ESTATE

Dillard’s to open at Rayzor Ranch Town Center

BY Staff Writer

Denton, Texas — RED Development announced it will bring Dillard’s department store to Rayzor Ranch Town Center, the new, open-air retail and entertainment destination now under development in Denton, Texas.

Dillard’s, being planned as a 126,000-sq.-ft. store, is the first anchor department store named for the new project since RED became an owner and assumed the management of the property in 2010.

Progress at the adjacent retail property – the 800,000-sq.-ft. Rayzor Ranch Marketplace – has been significant in 2012: This year RED announced Kohl’s, Famous Footwear, Jo-Ann Fabric and Craft Store, and Petco, all slated to open in 2013. These retailers will join the property’s already open Sam’s Club and Walmart Supercenter, among other retailers and restaurants.

RED is developing two complementary retail properties – Rayzor Ranch Marketplace and Rayzor Ranch Town Center – both part of the master-planned, 400-acre mixed-use Rayzor Ranch development in Denton, 35 miles north of Dallas-Fort Worth.

“Dillard’s is very pleased to be the cornerstone of Rayzor Ranch Town Center,” said William Dillard II, CEO. “The project RED is creating – all open-air with great design and a wonderful experience for shoppers – is exactly where Dillard’s wants to be in this attractive, high-growth market.”

Current plans for Rayzor Ranch Town Center call for a 600,000-sq.-ft. regional shopping destination at the intersection of I-35 and U.S. 380 in the heart of Denton. In addition to retail, the new outdoor project will feature gathering spaces, lush landscaping and other amenities.

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