REAL ESTATE

Any early skepticism about the longevity of mixed-use has been silenced. The art of combining components to create a live-work-play project has evolved into a science. And those that have become particularly adept at building, leasing and managing mixed-use properties say that the right formula makes for a successful development. 
Chain Store Age talked with three top developers of mixed-use projects and uncovered several trends that are governing, and continuing to evolve, the format.


Trend #1: Adding local flavor 


San Francisco -- Grosvenor Americas said it has appointed Steve O’Connell to the position of development manager in the company’s San Francisco headquarters office.

O’Connell will oversee the development process from property identification and purchase through design, entitlement, construction, leasing, and stabilization. He was previously with Swinerton Builders in San Francisco as a construction project manager on large urban mixed-use projects.

Dallas -- Cypress Equities said Tuesday that Dallas mixed-use development Village on the Green will showcase a new fine dining restaurant Aquadora.

The 6,052-sq.-ft. restaurant is slated to open before the end of the year in the space formerly occupied by GoFish.

The restaurant owners, LIG Entertainment Management, have remodeled the former GoFish dining area and extended the lounge.

Brooklyn, N.Y. -- Williams Sonoma-owned home-furnishings retailer West Elm said Tuesday that it will make its Washington State debut with a new store in Seattle, slated to open Oct. 6.

The 15,000-sq.-ft. store will feature a number of unique design details, according to West Elm, including a living wall and an art installation designed specifically for the location.

Like other West Elm stores, the Seattle location is designed using green materials and includes low-energy lighting, low-VOC paints and reclaimed hardwood floors.
 

New York City -- Rite Aid has started the rollout of its new wellness store format, with 40 stores completed as of the end of the second quarter (Aug. 27, 2011). It expects to complete a total of some 300 wellness remodels in its current fiscal year, management said during a conference call with investors.

Pittsburgh -- Dick’s Sporting Goods announced it is opening two stores this week, in Yonkers, N.Y., and Norcross, Ga.

The Yonkers location will be the retailer's 32nd store in the state of New York and their 458th nationwide. The Norcross location will be the retailer's fifteenth store in the state of Georgia and their 459th nationwide.

 

New York City -- Office Depot will celebrate the grand opening of its new store in Austin, Texas, on Sept. 27.

The new store features a number of upgrades designed with the customer in mind, including colorful and clear signage, and carpeted floors for a warmer feel. The floor plan is simple to navigate with a layout that is intuitive, logical and convenient for the customer to shop.

Minneapolis -- Target Corp. said Friday that it has finalized its real estate transaction with Canadian retailer Zellers with the selection of 84 additional Zellers leases. Target Canada will open between 125 and 135 stores, most by 2013. The discounter also entered into a deal with Sobey’s, Canada’s second largest supermarket chain, to supply its stores with food.