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7 retail development updates

June 10, 2021

Hines, Benenson Capital Partners and USAA Real Estate will develop Main Street Place, a 6.75-acre mixed-use development in Bellevue, Washington. The development will consist of 1.2 million square feet of high-rise office and 400 low-rise apartments. The ground level will feature 90,000 square feet of retail and amenities, along with public open space and pedestrian corridors throughout. A light rail station scheduled to open in 2023 will connect this site to downtown Seattle, Microsoft’s headquarters in Redmond and Seattle-Tacoma International Airport. Benenson, a family-owned company acquired an Albertsons grocery store on the site decades ago and developed the retail center that currently exists.

Rev Development kicked off its $75 million redevelopment of the 211,289-square-foot Platte River Mall in North Platte, Nebraska. The company plans to convert it into an open-air shopping center and add two apartment buildings. Plans include reconfiguring existing tenants like Bath & Body Works and Maurices, building stores for new tenants Dunham’s Sports and Nebraskaland Tire and Service and accommodating a convention center. Anchors at Platte River Mall include Ashley HomeStore and farm supply retailer Bomgaars.

On Main Street in Hamilton, Ohio, north of Cincinnati, an orthodontist is developing a retail center called West Hamilton Plaza. The orthodontic practice will serve as the first tenant, occupying 3,000 square feet. Berkshire Hathaway will handle leasing for the remaining almost 10,000 square feet. West Hamilton Plaza will open in mid-November.

Walden & Associates is revising the master plan at its Shops at Waldenwoods in Hartland Township, Michigan, to include five small buildings and a gas station instead of one of the proposed large buildings. The new plan eliminates a 24,000-square-foot retail space, reducing the number of proposed large retail lots from three to two. Possible uses include restaurants, retail, a car wash or a bank. As it develops the 61-acre property’s remaining vacant land, the developer says, it’s responding to demand for smaller parcels for drive-up, drive-thru and self-service businesses.

Foothill Partners and Belay Investment Group acquired a 200,000-square-foot former Lowe’s in Sparks, Nevada, to redevelop into an R&D campus called The Oddie District. The partners will spend $30 million to repurpose the building into creative office, flex-tech R&D, lab spaces, maker spaces, food-and-beverage offerings and work-live studios for artists and entrepreneurs. Construction kicks off this year, and the first phases are planned to open in August 2022.

Evergreen is developing Falcon Marketplace northeast of Colorado Springs, Colorado. King Soopers plans to build a 123,000-square-foot supermarket at the property that will open in 2022. Panda Express, Slim Chickens, Super Star Car Wash and Discount Tire also have signed contracts to purchase parcels at the property.

North State Grocery, parent company of supermarket chain Holiday Market, is partnering with TJG/Summit Development to build a retail center in Redding, California. A 30,000-square-foot Holiday grocery store would anchor the center, which also would feature a Starbucks, a Quick Quack Car Wash and a gas station with a convenience store.

By Brannon Boswell

Executive Editor, Commerce + Communities Today

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