Slow and Steady Wins the Race

New-build shopping center construction was plodding last year — discounting the outlet category, which continues to grow at record speed. And, yet, sometimes one has to look at the quality of what is coming out of the ground — or expanding — and not just the quantity.

And so it goes with our highlighted developments below. Chain Store Age’s annual development survey — spanning 27 years — showcases some notable projects by developers that continue to push the envelope in terms of amenities, strategic redevelopment and creative leasing strategies. Are these all that opened in 2015? Of course not, but they do represent an excellent sampling of last year’s shopping center menu.

Consistent with the last seven years, we have not attempted to rank a “Fastest-Growing Developers” listing but, rather, have arranged the companies alphabetically and provide highlights of one or more 2015 projects from each. All new developments and expansion projects were completed between Jan. 1 and Dec. 31, 2015.

CBL & Associates Properties

Chattanooga, Tennessee

2015 score: 15 projects in 10 states, 1,068,000 sq. ft.

On Oct. 15, 2015, CBL & Associates Properties, Inc., along with joint-venture partner Stirling Properties, celebrated the opening of Fremaux Town Center Phase II, one of 15 projects that CBL opened last year. The 283,000-sq.-ft. development in Slidell, Louisiana, opened Phase II 86% leased with key tenants, including Forever 21, Victoria’s Secret, LOFT, Bath & Body Works, Red Robin, Aveda, Chico’s and Pier 1 Imports.

The pair has teamed up again to deliver > another Louisiana project: the 425,000-sq.-ft., Costco-anchored, recently opened Ambassador Town Center in Lafayette.

Donahue Schriber

Costa Mesa, California

2015 score: 50 projects in 4 states, 273,000 sq. ft.

Donahue Schriber completed a lineup of projects last year in California, Nevada, Oregon and Washington, counting among its most significant Rocklin Commons and Rocklin Crossings near Sacramento.

At just under 1 million sq. ft., Rocklin Commons and Rocklin Crossings represent the largest new retail development in Rocklin and the greater Sacramento Tri-County region. Anchored by Target, Walmart, Bass Pro Shops, Green Acres Nursery & Supply, and Studio Movie, shoppers are presented with a well-rounded tenant list and offerings at a location off Interstate 80 and Sierra College Boulevard.

Kimco Realty Corp.

New Hyde Park, New York

2015 score: 45 projects in 18 states and Canada, 2,439,010 sq. ft.

Not unusual for this prolific developer and redeveloper, Kimco tackled 45 projects across a wide swath of the U.S. and Canada last year. The company points to Castor Place — in busy Northeast Philadelphia — as a project to highlight.

Kimco converted a four-story former J.C. Penney department store into a multi-tenant retail building. As part of the redevelopment, Kimco adapted the lot to provide amenities and optimum logistics for shoppers, such as ample parking and well-situated access from the street and mass transit. The redevelopment included the repositioning of the property for long-term growth, including adding a new vertical entrance, parking, a new common area for second- and third-floor tenants, and the renovation of existing in-line tenants with Burlington Coat Factory, now occupying the lower level and first floor, and T.J. Maxx and Bob’s Furniture occupying the second and third levels.

Regency Centers

Jacksonville, Florida

2015 score: 3 projects in 3 states, 312,923 sq. ft.

Regency is very targeted in its development activities, focusing its efforts and expertise on grocery-anchored properties that deliver maximum value to the communities they serve.

Persimmon Place, a 153,380-sq.-ft. shopping center located in Dublin, California, celebrated its grand opening in October 2015. Anchored by Whole Foods Market, the center offers an upscale and convenient retail experience by incorporating the Bay Area’s best anchor stores and a unique collection of retail shops and restaurants. Joining Whole Foods are co-anchors Nordstrom Rack and HomeGoods, which harmonize with side shop retailers, such as Starbucks, Pacific Catch, Vitality Bowls, Orange Theory Fitness, Sur La Table and Ethan Allen.

Rouse Properties

New York, New York

2015 score: 3 projects in 3 states, 298,290 sq. ft.

Rouse Properties completed a strategic redevelopment of The Shoppes at Gateway in Eugene, Oregon, in 2015. The $45 million project recaptured unproductive space and transformed the former enclosed mall — which is located along the heavily traveled Interstate 5 — into an institutional quality, open-air retail destination.

The transformation involved redeveloping more than 200,000 sq. ft. of existing mall space into exterior-facing junior box and small-shop space. More than 40,000 sq. ft. of new outparcels were constructed, and 35,000 sq. ft. of interior mall space was renovated to create an enhanced shopping and social environment. Rouse also added new amenities to the property, including bike paths and a refurbished covered > walkway for public transportation access.

The redevelopment project has attracted new-to-market, category-leading retailers, including ULTA, Panera, Payless, Petco, Hobby Lobby, Ross and Marshalls, with more on the way.

Simon Property Group

Indianapolis

2015 score: 7 projects in 6 states, 1,901,800 sq. ft.

Always a major player on the CSA Top Developers list, Simon debuted in 2015 a two-level “Fashion Wing” anchored by a new Nordstrom store at the iconic Del Amo Fashion Center, in Torrance, California.

The two-level, 140,000-sq.-ft. store is the 28th Nordstrom in the Simon portfolio. Adjacent to the new Nordstrom will be 100 brands, many of them exclusive to the South Bay area, housed in a space that features wood accents and massive skylights. Brands in the Fashion Wing include Arhaus, Kate Spade, Hugo Boss, Guess/Marciano, lululemon athletica, Michael Kors, J. Crew, Madewell, Vince Camuto, a two-level Zara, a two-level H&M store, a Victoria’s Secret flagship store, an Express flagship store, Brooks Brothers and Uniqlo.

Steiner + Associates

Columbus, Ohio

2015 score: 2 projects in 1 state, 1,883,000 sq. ft.

There was much ado about the opening of Liberty Center, in Liberty Township, Ohio, last October — and it was warranted. The first phase features a massive 1.3 million sq. ft. of retail, dining and entertainment, including 75,000 sq. ft. of Class A office, 100,000 sq. ft. of restaurant and dining, 240,000 sq. ft. of upscale residential, 90,000 sq. ft. of cinema and entertainment, and a 130-key AC Marriott hotel.

Retail and restaurant headliners include Dillard’s, Dick’s Sporting Goods, Cheesecake Factory, Brio, Starbucks, Gap, Old Navy, H&M, Victoria’s Secret, Bath & Body Works, and Kona Grill.

Tree-lined pedestrian walkways bisect the site, and unique outdoor park spaces include fountains and sculptures. The Acropolis includes a beautiful rooftop garden, as well as two unique spaces — a community conference center and Unity Chapel — with the goal of promoting health and wellness and bringing awareness and educating the greater community.

Stirling Properties

Covington, Louisiana

2015 score: 7 projects in 1 state, 570,000 sq