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Redevelopments

We continually improve our retail centers by adding the stores customers want to shop and creating an environment where they prefer to stay.

See how we strengthened retail in these communities.

HERITAGE PLAZA

Irvine, CA
Ralphs, CVS/pharmacy

• 2011 full-scale commercial real estate redevelopment of a suburban in-fill neighborhood center, including the interior and exterior renovation of a 44,376-square-foot Ralphs grocery store and a 21,360-square-foot CVS/pharmacy
• Repositioned the shopping center to enhance retail options for the Asian consumer, which had grown from 8% to over 45% of the population over the center's 30-year life, adding new-to-the-market retailers Mitsuwa Marketplace, a Japanese grocer, and variety store Daiso Japan
• Increased occupancy to 98%
• Utilized consumer focus groups to tailor the merchandising and architectural style, adding requested outdoor seating, sidewalk eating areas and stone exterior facade
• Completed shopping center redevelopment while keeping all tenants open for business
• Added sustainability features including drought-resistant landscaping, addition of more than 200 trees consistent with the region's natural vegetation, a smart irrigation system that automatically monitors and adjusts to climate data and LED parking lot lighting

 

ROSCOE SQUARE

Chicago, IL
Mariano's Fresh Market, Toys"R"Us/Babies"R"Us

• Located in the upscale Roscoe Village neighborhood of the City of Chicago with over 650,000 residents within three miles
• 2011 full-scale redevelopment of a dark Dominick's-anchored property into a vibrant center anchored by Toys"R"Us/Babies"R"Us and the first Mariano's Fresh Market within the City of Chicago
• Worked closely with area neighborhoods and city government to garner unanimous design approvals and entitlements
• Completed redevelopment within 12 months while keeping all shop tenants open for business
• Increased occupancy from 58% to 90% with leases currently being negotiated to bring occupancy above 95%
• Awarded LEED Silver by the U.S. Green Building Council for sustainable design

 

Redevelopments In-Process

EAST

• Village Center
  Tampa, FL
  Expanding Publix with new ground-up store format, relocation of Walgreens as outparcel and center façade/landscaping improvements

WEST

• Sammamish Highlands
  Sammamish, WA
  Adding Petco and upgrading center façade, landscaping and signage