REAL ESTATE

Trademark Property Co. takes over Uptown Village at Cedar Hill

BY Dan Berthiaume

Fort Worth, Texas — Trademark Property Co. announced it has been engaged to manage and lease Uptown Village at Cedar Hill, a 610,000-sq.-ft. mixed-use open-air center in Cedar Hill, Texas.

Strategically located in the midst of a dynamic retail hub less than 20 minutes south of downtown Dallas, Uptown Village includes 350,000 sq. ft. of specialty stores and restaurants and 35,000 sq. ft. of office space.

The center has 72 tenants including Aveda, Charming Charlie, Hollister, James Avery, Papaya, The Children’s Place and Victoria’s Secret, as well as anchor retailers Dillard’s, Dick’s Sporting Goods and Barnes & Noble. Dining options include Matt’s Rancho Martinez, Razzoo’s Cajun Café, and Black-eyed Pea.

“We will work on remerchandising the project as well as enhancing overall property amenities and place making,” said Trademark CEO Terry Montesi. “In addition, we are conducting extensive research to help us better understand the customer and trade area as we consider a complete re-brand of the property, and a new marketing and advertising program.”

Trademark begins its management and leasing duties immediately.

The addition of Uptown Village expands Trademark’s portfolio to 15 retail, lifestyle, and mixed-use projects (six million sq. ft.) operated by the company across the U.S.

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REAL ESTATE

Brixmor Property Group signs new Leases at Westminster City Center

BY Dan Berthiaume

Westminster, Colo. — Brixmor Property Group, owner and operator of the largest wholly owned U.S. portfolio of grocery-anchored shopping centers, has leased more than 97,000 sq. ft. of retail space to five national retailers at Westminster City Center in Westminster, Colorado.

Repositioning several anchor spaces provided an opportunity to enhance the center’s merchandising mix with the addition of new retailers including Ross Dress for Less, Jo-Ann Fabric and Craft Store, Ulta Beauty, Dress Barn and The Tile Shop, all opening this year.

A former Circuit City was re-demised to accommodate two new anchors — Ross Dress for Less in 26,000 sq. ft., which opened in March, and Jo-Ann Fabric and Craft Store in 24,496 sq. ft., opening this week.

Ulta Beauty and Dress Barn will replace a former Michaels. Ulta Beauty, the largest beauty retailer, has leased an 11,200-sq.-ft. store and will open this week. Women’s apparel retailer Dress Barn leased the remaining 8,800 sq. ft. and will open in the fall.

Additionally, The Tile Shop opened in 26,678 sq. ft. last month in a space formerly occupied by CompUSA.

"Repositioning these anchor spaces allowed us to upgrade the shopping experience for our consumers with best-in-class retailers while improving traffic and sales for all tenants," said Brian Finnegan, senior VP of leasing and redevelopment for Brixmor Property Group.

The 337,540-sq. ft. community center is also anchored by a 54,260-sq.-ft. Gordmans, a 42,900-sq.-ft. Babies "R" Us and a 30,554-sq.-ft. Barnes & Noble Booksellers, alongside national retailers such as DSW, Party City, Golfsmith and David’s Bridal.

Westminster City Center is located just off the Denver Boulder Turnpike at the intersection of W 92nd Avenue and Yates Street.

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REAL ESTATE

New mixed use complex planned for Long Beach, Calif.

BY Dan Berthiaume

Long Beach, Calif. – A former state office building near City Hall in Long Beach, California, is reportedly being torn down to make way for a seven-story, $53 million mixed use retail and residential complex. According to the Long Beach Press-Telegram, the vacant property was bought in foreclosure for $10 million in 2010.

The Long Beach Planning Commission approved plans for the project, slated for completion in early 2017, in October 2013. The first floor will feature retail stores including a gallery, bike repair shop, pet grooming service and fitness facility. The complex will also feature 222 residential units.

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