Development/Redevelopment

As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with DLC’s Daniel Taub about what his expectations are for the big real estate show. Visit DLC’s booth at RECon, Upper South Hall, S2235.

Jacksonville, Fla. -- Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, announced that buildings at two of its shopping centers in North Carolina and Illinois have received LEED Silver established by the U.S. Green Building Council (USGBC).

Williamsburg, Va. -- Divaris Real Estate announced it has been appointed the exclusive leasing and management firm for The Marquis, located in Williamsburg, Va.

The Marquis is a 750,000-sq.-ft., regional power center. At its completion, The Marquis will be the largest retail development in Williamsburg, featuring specialty retailers and restaurants and several big-box retailers including Target, Kohl’s, Dick’s Sporting Goods, Best Buy and J.C. Penney.

Chattanooga, Tenn. -- CBL & Associates Properties and Horizon Group Properties said Tuesday that construction will begin immediately on the second phase of The Outlet Shoppes at Oklahoma City.

The 28,000-sq.-ft. expansion is scheduled to open in November and will bring Columbia Sports, Ann Taylor Loft, Waterford, Kenneth Cole, Lucky Brand and more to the center.

Greensboro, N.C. -- Tanger Outlets said Tuesday that the multi-million-dollar renovation of its newly acquired Ocean City property is nearing completion, with an unveiling slated for the end of May.

This is not your father’s (or my father’s) RECon. True, the conference wasn’t called that back then, but it is clear to me that this influential annual event is evolving. I see three relatively new RECon trends/developments that I think are significant beyond the conference itself; indicating bigger-picture changes within the broader retail real estate industry:

Stronger international presence

Derby, Conn. -- DLC Management Corp. and Hutensky Capital Partners have announced a joint-venture acquisition of Walmart Plaza, a 199,393-sq.-ft. shopping center in Derby, Conn.

Anchored by Walmart, Adams Hometown Market and CVS, the center adds to DLC’s Connecticut holdings of nine shopping centers and 1.4 million sq. ft.
 

Gurnee, Ill. -- Construction has begun on a 140,000-sq.-ft. full-line Macy’s that will anchor a new full-price wing at Gurnee Mills, in Gurnee, Ill.

With the addition of the department store, which is expected to open in late summer 2013, Gurnee Mills said it will be distinguished as the first hybrid shopping destination of its kind, combining full-price, outlet and value retail all under one roof.