Developer gets financing for new O.C. Costco January 30th, 2012, 10:49 am · · posted by Jon Lansner

Sketched of the planned Costco at Bella Terra

Click to see demolition to start Costco construction; photos by Sam Gangwer

Commercial real estate investment bankers George Smith Partners arranged $16 million in construction financing for DJM Capital Partners to clear retail space for Costco at the Bella Terra shopping center in Huntington Beach.

Costco’s 30-year ground lease required DJM to create a “construction ready” pad for a new Costco.

Construction included DJM demolishing a 120,000-square-foot former Montgomery Ward‘s and an 80,000-square-foot former Mervyns plus adding utility lines and bays for gasoline tanks.

DJM is also building a 467-unit apartment complex adjacent to the shopping center that’s already sold to landlord UDR.

Smith Partners’ Steve Bram: “Although both the client and the property are very solid, this particular loan presented a challenge due to the state of the current commercial real estate industry. Construction financing, especially for retail centers, is not easy to achieve in today’s economic climate.”

Learn about 9 store openings, 5 closures in O.C.

Did you miss?

Trends in commercial real estate …

… or new O.C. stores!

You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

More:
Developer gets financing for new O.C. Costco

SALT LAKE CITY — The clock is ticking
toward the highly anticipated opening of Utah's top retail
development.

Less than 60 days remain until the
scheduled March 22 grand opening of City Creek Center, a $1.5
billion downtown project that is expected to revitalize Salt
Lake City's central business district.

Upon completion, City Creek will
feature approximately 700,000 square feet of shopping and
dining space, along with 536 new condominiums or apartments.
Among the unique features of the 23-acre development are a
30,000-square-foot fully retractable glass roof, a sky bridge
over Main Street and a re-creation of City Creek, the snow-fed
stream that once meandered through the city.

City Creek general manager Linda
Wardell of Taubman Centers Inc. said the project is on schedule
for its planned March opening.

"The construction of the core (retail)
building is really already complete," she said. "We've been
(testing) all of our systems and know how they are going to
operate."

She noted that the individual retail
stores are in their "crunch time" as they work to meet their
own deadlines for the impending opening.

Experience is a big part of shopping today. Shopping really
is entertainment for a lot of people, so it has to be an
experience every time they visit.

–- Linda Wardell

"Usually, everything is simultaneously
constructed," she said. "With City Creek, because of its
mixed-used nature, the core part of our building was built
first and then the stores were built in."

Taubman will operate the retail portion
of the project, which will contain approximately 80 stores and
restaurants. Wardell said one-third of the stores at City Creek
will be unique to Utah, which will "keep bringing people back
over and over again."

Headquartered in Bloomfield Hills,
Mich., the company currently operates 26 retail shopping
centers across the country, with six others in development —
including properties in Asia and Puerto Rico.

To date, Taubman has invested about $76
million into the project.

The International Council of Shopping
Centers has said that City Creek Center will be the only retail
center opening in the U.S. in 2012, meaning the opening will
likely garner national and even global attention, Wardell
said.

Inquiries have come from media
worldwide to attend the grand opening as well as other retail
developers from around the globe. One local industry analyst
said the new development would likely help bolster the overall
strength of the entire downtown retail sector, including The
Gateway.

"Retail growth will be slower at the
beginning, but overall both projects will in time will become
thriving destination projects in the downtown area," said J.R.
Moore, vice president of retail properties with commercial real
estate firm CB Richard Ellis in Salt Lake City. "They'll fuel
each other and make downtown an even more attractive place for
shoppers and retailers."

Meanwhile, the finishing touches are
being made on one of the more fascinating retail centers of its
kind, she said.

"Experience is a big part of shopping
today," Wardell explained. "Shopping really is entertainment
for a lot of people, so it has to be an experience every time
they visit."

She noted, however, that providing the
"right collection of stores" is also essential to the overall
shopping experience. In addition, the project will also include
some of the best residential properties in the region — making
City Creek a destination for visitors from across the Mountain
West.

"You can come to this one central part
of the city and be engaged with the city in such a unique way,"
Wardell said.

Email:jlee@ksl.com

Read the rest here:
City Creek on schedule, only shopping center opening in U.S. during 2012

Published: Friday, Jan. 27, 2012 11:26 p.m. MST

Read the rest here:
$1.5B City Creek Center on schedule for March 22 opening

16-01-2012 10:45 Watch in HD and Full Screen to enjoy the detail. Favorite, Like, Share and Subscribe Please! Information about Tower Cranes: http://www.deckrane.com Information on the CitySquare redevelopment project: http://www.telegram.com "Leggat McCall and Consigli Construction Co. of Milford are partway through a $110 million job that includes tearing down something old, building something new and doing it without disrupting people or traffic http://www.worcesterma.gov CitySquare is a $563 million multi-phased private/public commercial real estate project and the largest development project in the Commonwealth outside of the Boston area

Excerpt from:
Tower Crane Construction Site and Demolition - Video

08-01-2012 21:31 Another Video where I cross over to the dark side with LEGO clones... :-O This Best Lock Fire Engine was just $1.79 (US) at Ollies Outlets. About Best Lock from best-lock.com: Best-Lock Construction Toys is a private manufacturer and marketer of Best-Lock building blocks, a line of children's plastic building blocks that is available at popular retailers worldwide

Read more:
LEGO Clone Unboxing and Review #4 - Best Lock Fire Truck With Minifigure - Video

05-01-2012 00:06 October 20, 2011 Bitexco Financial Tower is among the world's top 20 iconic skyscrapers The Bitexco Financial Tower is an emblem of Vietnam's rapid development and growing importance as a dynamic emerging economy The Bitexco Financial Tower (BFT), shaped like the bud of a lotus flower, has become one of the world's top 20 most iconic skyscrapers. Standing 262 metres tall in the prime District 1 of Ho Chi Minh City, Vietnam, the BFT's stature as an iconic skyscraper was confirmed by CNNGo, a travel and lifestyle website which compiled the list in collaboration with prominent architect A Eugene Kohn, founder and chairman of Kohn Pedersen Fox Associates KFP, one of the world's largest architecture firms.

More:
Bitexco Financial Tower - Ho Chi Minh City's tallest skyscraper - Video

03-01-2012 14:48 Clayco provided development, design and construction management services for Centene Plaza, the first class A office product brought to market in downtown Clayton, Missouri in just under a decade and the region's first and only multi-tenant office that is Gold LEED certified. The development is a 21-story office tower with a 1900-space parking garage and a public plaza.

View post:
Centene Plaza Construction Timelapse - Clayton, MO - Video

15-12-2011 18:39 Approx. 1200 SQFT inline retail space available in very busy, high-traffic shopping center, featuring tremendous visibility and pole signage opportunity

See the original post here:
Pico

11-11-2011 03:54 Call Arun @ +919560214267. Overview 6 specialty levels

Here is the original post:
DLF Mall of India Sector 18 Noida Gurgaon Delhi Construction - Video

06-12-2011 03:23 The Fox restaurant at Vatika First India Place, Gurgaon, Haryana, India. An Indian couple eating at the restaurant. Vatika believes in delivering value to all our stakeholders by creating products and services that enhance the value of life.

Follow this link:
The Fox restaurant, Vatika, Gurgaon - Video