Retail space to exceed 13 million sqm by end-2015 - JLL

Total retail space will increase by 12 percent by the end of 2015, reaching some 13.2 million sqm, according to data by JLL. The majority of the growth will be seen in Polands eastern regions.

Currently 44 percent of the existing space is located in western and northwestern regions of the country, while another 17 percent is located in the center (Mazowieckie and dzkie voivodships), the report reads.

The most rapid increase in retail space (by 27 percent) is expected is the countrys eastern voivodships, which still has far less retail space than Polands western voivodships. Several large shopping malls have either been completed recently, including Atrium Felicity in Lublin opened in March, or are under construction. Three outlet centers (two in Biaystok and one Lublin) are also in the pipeline.

The increase in retail space will likely be followed by a surge in demand for warehouse space, which is currently scarce in the region (92 percent of all warehouse space is located within five major hubs: Warsaw, Silesia, Central Poland, Pozna and Krakw).

With 24 percent share in demand for warehouse space over the past five years, retail networks are the second largest group of warehouse space tenants in Poland, after logistics operators, said Tomasz Mika, head of industrial agency, at JLLs Poland office.

Poland A.M.

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Retail space to exceed 13 million sqm by end-2015 - JLL

Lynchburg, VA - 43 acres is slated to be turned into a wedding and event venue, commercial, residential, and retail space.

A plot right off Graves Mill Road is the proposed site. The development is slated to include 165,000 square feet of commercial space, 35 residential apartments, as well as a business and technology park.

It all got the green light Tuesday night from a unanimous Lynchburg City Council, first approving rezoning the property and then a conditional use permit to build on it.

The type of construction the city calls a "cluster commercial development" The developers say the space will lend itself to people being able to live, work, and play all within the same area.

Adjacent to this development is a state and nationally designated historic property; The Rosedale Mansion, and a pre-revolutionary war Grist Mill. A part of the agreement aims to keep those properties intact, and develop them into an event venue.

The owners of the Bedford Columns stepped in to take on that responsibility. Vickie Runk of Runk and Pratt is the property owner and shared her vision for the property.

"The mill is already refurbished inside, so we're ready to go inside. It's going to be the outside landscaping that starts so we can start holding events in the mill and the bottom part next to the creek bed as soon as the fall" she said.

Developers of the Graves Mill development are hoping to have a convenience and grocery store, along with commercial and retail space, with a business park in the rear of the property. They're hoping to break ground in less than a year.

"We would like to do something that has more of a historic feel or is done something a little different than a typical strip shopping center" said Bryant Hare, one of the project's developers.

The city planning commission did not recommend approval of this project to city council. But council said they ultimately disagreed with that recommendation.

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Lynchburg Council Approves New 43 Acre Development Off Graves Mill Road

JOHN SULLIVAN

Three construction companies will become the construction team for the new arena for the Detroit Red Wings. It will be built on a site near Woodward Avenue and I-75.

The new $450 million arena for the Detroit Red Wings will be built by a consortium of three construction companies that was submitted for approval today by the citys Downtown Development Authority.

Newly formed Barton Malow-Hunt-White, organized as the projects general contractor, was submitted today to the DDA by arena developer Olympia Development of Michigan, which issued a statement today.

The authority is scheduled to vote on the submission when it meets at 3 p.m. Wednesday.

The three companies are Southfield-based Barton Malow Co., Detroit-based White Construction and Indianapolis-based Hunt Construction Group.

Details about the consortiums structure and information about financing were not disclosed.

Barton Malow and White were involved in construction of Comerica Park and Ford Field. White recently was hired as a subcontractor for the $137 million private-public M-1 Rail streetcar project along Woodward Avenue.

Hunt Construction has worked on major sports venues such as the Amway Center for the Orlando Magic of the National Basketball Association, Barclays Center for the NBAs Brooklyn Nets and New York Islanders of the National Hockey League and Consol Energy Center for the Pittsburgh Penguins of the NHL.

The DDA will own the 18,000-seat event center, to be built by 2017 west of Woodward at I-75 in Detroit.

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Three construction companies would become team that builds new Red Wings arena

New proposal would replace Norris homes with new housing, retail and park space.

by Patrick McCarthy 08 April 2014

A $30 million grant that would allow for the removal and redevelopment of a North Central Philadelphia public-housing community located near Main Campus may be in the works for the City of Philadelphia.

The Norris Apartments, which contain 147 low-income housing units between Berks and Norris streets east of Main Campus, are the subject of a proposal to be torn down and replaced with 297 mixed income Gold-LEED certified homes, a 10,000 square-foot workforce development center, an 8,000 square-foot community center, 2,000 square feet of commercial retail space, 75 underground parking spaces and a new one-acre community park.

The proposal is an extension of the $30 million CHOICE Neighborhood Improvement Grant from the federal Department of Housing and Urban Development that Philadelphia is one of six finalists for.

Sen. Bob Casey made the announcement under the Temple Regional Rail station abutting the Norris Apartments last week, saying that the $30 million grant would create 600 construction and 300 permanent jobs and would leverage an additional $125 million in funding toward transformative redevelopment in North Central Philadelphia.

The North Central redevelopment plan is backed by the Philadelphia Housing Authority, the citys Office of Housing and Community Development and Temple, which will all be playing key roles if Philadelphia wins the five-year grant.

Temples has promised $1.2 million toward neighborhood improvement programs set to be dispersed during a period of five years and contingent upon receipt of the $30 million grant. If Philadelphia receives the grant, Temple will be partnering with EducationWorks to provide high school training programs that would offer afterschool tutoring, college and career training as well as counseling to residents in the newly built homes. Temple would also be creating a new position of CHOICE neighborhoods coordinator.

As the lead education partner were really responsible for coordinating the activities of all the partners and that includes the school district, Philadelphia Health Management Corporation and the United Way who are focused on helping child care centers improve their capacity, Assistant Vice President of Community Relations and Economic Development Beverly Coleman said. Coordination is on a large part of the services that we would provide. We also work closely with the school district to track the progress of youth from Norris homes.

The plan was originally developed by Asociacion de Puertorriquenos en Marcha, a Latino-based community nonprofit that has been in the North Central Philadelphia community for 45 years.

Excerpt from:
Citys bid for grant calls for overhaul of Norris homes

Masa Sushi breaks ground in Friendswood

The Friendswood Chamber of Commerce held a Ground Breaking for a new business coming into town. Owners Chi and Michael Zhous Masa Sushi Japanese Food Restaurant will be located at 1788 South Friendswood Drive along with retail space. They plan on opening fall 2014. For more information regarding this project contact David OFarrell @ OFarrell Realty the leasing agent or 281-482-3404. Pictured along with Chi and Michael are Larry Wilkinson, L.E. Wilkinson Consulting, David OFarrell, OFarrell Realty, Karen Capps, City of Friendswood, Mary Anne Templin, Templin Commercial Brokerage, Ruth Ann Manison Prince, Prince Properties, Palmer Schooley and Greg Guy, Schooley Architect Designs, David Wright, David Wright Construction and Frank Smith, Rich Behr Construction. Pictured submitted by Carol Marcantel, President, Friendswood Chamber of Commerce. For more information regarding the Chamber give us a call at 281-482-3329 or carol@friendswoodchamber.com or friendswoodchamber.com

Posted: Monday, April 7, 2014 4:17 pm

Masa Sushi breaks ground in Friendswood

Posted in Living on Monday, April 7, 2014 4:17 pm.

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Masa Sushi breaks ground in Friendswood

On Apr 4, 2014, we issued an updated research report on Federal Realty Investment Trust ( FRT ), a Rockville, MD-based retail real estate investment trust (REIT).

On Feb 11, 2014, Federal Realty reported fourth-quarter 2013 results with core FFO (funds from operations) per share of $1.18, exceeding the year-ago figure by 7 cents and in line with the Zacks Consensus Estimate. Decent results came on the back of notable leasing activity, rent escalations and improved same-store portfolio performance. Also, Federal Realty raised its 2014 FFO per share outlook.

We believe Federal Realty's expansion strategy has strong potential and promises steady income growth in the long run. Moreover, the company's portfolio of high quality shopping centers along with the diversified tenant base comprising grocery stores and low-end discount retailers -- such as Wal-Mart Stores, Inc. ( WMT ) and Target Corp. ( TGT ) -- position it well for growth.

Although the significant construction pipeline of Federal Realty bodes well for long-term growth, it increases operational risks and tends to drag margins in the near term. Furthermore, rising online sales that adversely affect the demand for retail space remains a concern and an anticipated increase in interest rate may dent its financial results going forward.

Over the last 30 days, the Zacks Consensus Estimate for 2014 FFO per share remained stable at $4.92. On the other hand, for 2015, it moved north by 2 cents to $5.37 per share. The stock currently has a Zacks Rank #3 (Hold).

Stocks that Warrant a Look

Better-ranked stocks in the retail REIT space include Simon Property Group Inc. ( SPG ). It currently carries a Zacks Rank #2 (Buy).

Note: FFO, a widely used metric to gauge the performance of REITs, are obtained after adding depreciation, amortization and other non-cash expenses to net income.

FED RLTY INV (FRT): Free Stock Analysis Report

SIMON PROPERTY (SPG): Free Stock Analysis Report

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Balanced View on Federal Realty - Analyst Blog

Construction is expected to begin as early as next month on a redevelopment project that will add housing and work spaces in the New Bohemia area of Cedar Rapids.

3rd Ward Development is planning to restore the former Kurik House on Second Street SE, a historic home flooded in 2008. The house will be moved closer to 11th Avenue SE and provideretail or commercial space on the first floor and an apartment on the second floor.

The project also will include construction of five single-family row houses on Second Street adjacent to the Kurik House and four mixed-use, two-story work/live units on Third Street SE. The latter will provide retail, office or studio space on the first floor and apartments on the second floor.

Don Barrigar, president of 3rd Ward Development, said the project will cover most of the square block between Second and Third streets and 10th and 11th avenues SE.

Barrigar said redevelopment and rehabilitation effort resulted from a two-year process that included acquisition of five properties the Kurik House and four vacant properties through two requests for proposals for flood-affected city-owned properties.

The development company worked with the Iowa Economic Development Authority, state and federal historic preservation offices and the Cedar Rapids City Council-created Czech Bohemia Neighborhood Overlay District.

The Cedar Rapids Planning Commission will hold a rezoning hearing April 17. It will then move to the Cedar Rapids City Council for its consideration.

Barrigar said relocation of the Kurik House and restoration work likely will begin next month. Construction of the single-family row houses is expected to start in July and the mixed use buildings on Third Street SE will complete the project in 2015.

Barrigar said the city and the South Side Investment Board conducted studies showing the need for more and diverse housing.

Our goal was to not only create desired live and work spaces, but also to provide these in a way that complimented the heritage already in place in NewBo, Barrigar said. We have talked with many people to make sure what we are offering is what they want in downtown live and work spaces.

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NewBo redevelopment will add housing, work spaces

Bradford planning file

10:00am Saturday 5th April 2014 in News

The following planning applications have been lodged with Bradford Council: Bradford Moor: construction of single-storey rear extension of the following dimensions: depth of extension from original rear wall 4.0m, maximum height of extension 4.0m, height to eaves of extension 3.0m, 28 Oswaldthorpe Avenue.

Bradford Moor: construction of single-storey side and rear extension, 1 Folkestone Street. Bradford Moor: construction of single-storey side extension, 30 Warley Drive. Bradford Moor: double-storey extension to side and rear and single-storey to rear, 26 Warley Drive. Bradford Moor: extension to kitchen and first floor, 33 Baring Avenue. Bradford Moor: parking space and entrance on to Leeds Road and porch to front, 975 Leeds Road.

City centre: change of use from A1 retail to A3 cafe, 30 Kirkgate. Clayton: construction of front and rear dormer windows to existing second-floor bedroom, 72 Pasture Lane. Clayton: construction of single-storey rear extension and front and rear dormer windows, 34 Middle Lane. Clayton: steel portal frame agricultural building, White Acres Farm, Baldwin Lane. Cottingley: construction of outbuilding, 27 Woodside Avenue. Cullingworth: construction of rear entrance porch, 3 Lower Heights Farm, Keighley Road. Cullingworth: construction of two-storey extension to side of existing dwelling, 12 Hallowes Park Road.

Eccleshill: construction of granny annex, 5 Acre Lane. Eccleshill: construction of pair of semi-detached dwellings, 41 Institute Road. Eccleshill: construction of single-storey rear extension of the following dimensions: depth of extension from original rear wall 5m, maximum height of extension 3.6m, height to eaves of extension 2.8m, 26 Loxley Close. Eccleshill: retrospective application for two-storey rear extension and loft conversion, 118 Norman Avenue.

Girlington: construction of garden room, 108 Fairbank Road. Girlington: construction of rear extension, 4 Lingwood Road. Girlington: construction of single-storey extension to rear with cellar room extension below, 20 Whetley Grove. Great Horton: construction of 3.0 metre dormer window to front, 114 Aberdeen Place. Great Horton: variation of condition 2 and 5 of planning approval 11/00420/FUL (phased two-storey extension with glazed link to existing school and minor alterations to existing building with new access from Smith Road for staff vehicles only and pedestrian access), Southmere Primary School, Ewart Street.

Great Horton: variation of condition 2 of permission 12/00251/FUL dated 29.4.13: scheme aims to achieve expansion by creating a new building on existing playing field allowing existing school to continue operating during build, on completion existing school will be demolished and new MUGA, football pitch and hard play area created on present school building site, part of school, existing year three block will be retained to provide community-use facilities, new school will be part two-storey and part single-storey, the two-storey element will include a sports hall, available to the community, Princeville Primary School, Willowfield Street.

Harden: renovation of former kennels to form new dwelling with subterranean extension under existing terrace and rebuilding of retaining walls, Cuckoo Nest Barn, Harden Road.

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Bradford planning file

An Ann Arbor developer is proposing a 110-room hotel with ground-floor retail space in a new 91,000-square-foot building in the citys downtown.

First Martin Corp., a developer of office, retail and residential space, has submitted site plans for the development, located at 116-120 W. Huron St., between South Ashley and South Main streets, to the city for review.

Construction costs and timelines were not immediately available Thursday. First Martin had not yet responded to messages seeking comment.

The 0.48-acre site is currently home to the Greyhound Bus Depot and the Ann Arbor Convention and Visitors Bureau, according to a site plan cover letter posted to the citys website. The existing buildings would be removed and the businesses would relocate.

Retail frontage would be along Huron while the entrance for core hotel functions would be along Ashley.

In addition to about 6,000 square feet of retail and possible restaurant or bar space, the first floor would also include the hotel lobby, meeting rooms, office space, an exercise room, patio, pool and kitchen and laundry space. The top five floors would be for hotel rooms, which would be studio and one- and two-bedroom units.

The site is adjacent to an 800-car parking structure at the corner of Ashley and Ann streets, according to the cover letter. There is also surface parking northeast of the site and on the south side of Huron Street, the letter says.

Architects on the project are Fairfax, Va.-based Zivic & Hurdle Architects PC and Ann Arbor-based Hobbs & Black Architects. Ann Arbor-based Midwestern Consulting LLC is the project engineer, surveyor and landscape architect.

The city planning department is reviewing the site plans.

Kirk Pinho: (313) 446-0412, kpinho@crain.com. Twitter: @kirkpinhoCDB

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6-story hotel planned for downtown Ann Arbor

More retail and office space is coming to the Bee Cave area through the Gateway at Falconhead. The 127,000-square-foot project located on 14 acres at the southwest corner of RM 620 and Falconhead Boulevard is anticipated to have a completed retail section by the first quarter of 2015, and a complete office section by the second quarter.

John Elges, the senior vice president of developer La Croix, said the project would include a bank, several restaurants, a salon and a daycare. Elges said there is also high demand for office space in the area, and that Gateway to Falconhead provides 80,000 square feet of office space.

Traffic patterns in Austin are getting wretched, he said. Larger companies are not quite yet in the process of coming to Lakeway and Bee Cave, but there are a ton of smaller organizations that could be there, and theyre leaning more and more toward the idea of not having to make the drive in Austin we dont have a tenant right now, but there are quite a few people circling, and theyre extremely excited about it.

The retail portion of Gateway to Falconhead is designed to have a boutique feel, Elges said.

Its not going to be a typical big box retail location, Elges said. What most retailers are looking for historically over the last 10 to 15 years has been a big box environment, and this is the antithesis of that. This is a much smaller feel and is designed to fit the sensibilities of being in a desired real estate area, which really does end up as a boutique feel. Its not going to be a strip center there will be buildings to walk around, with fronts and backs to them as opposed to just fronts.

The project experienced holdups when the original developer dropped out and a new one had to be found, but everything is back on track, Elges said. The project has also been held up by the Bee Cave City Councils decision that the project had to have a detention pond on it when the original plans did not accommodate for one.

Yes, of course it [the detention pond] will hold us up, but the good news is that its going to be beautiful, Elges said. Ive been joking that theyre going to need some swans. Theres going to be standing water in there, and theyre going to put some fountains, and its going to be beautiful. My guess is that its going to be the prettiest shopping center all along the Bee Cave and Lakeway corridor.

Construction will begin soon, Elges said.

Im on the edge of my chair waiting for that to occur, Elges said.

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Gateway to Falconhead brings retail, offices to Bee Cave