Western Real Estate Business

SEP 2017

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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www.REBusinessOnline.com Western Real Estate Business • September 2017 • 53 residents, but also as the prime choice for higher-end shops and restaurants serving this entire region," says John Love, vice president of Shapell Prop- erties. Completion of the main shop- ping center is expected in late 2018. Additional phases, including the hotel and apartment community, are slated for completion by 2020. The Festival Companies has recently completed a 30,000-square-foot infill project in Sherman Oaks. The center contains Ulta Beauty, Starbucks Cof- fee, Burger Lounge and Luna Grill, as well as a new food concept from the owners of Plan Check Kitchen + Bar called Wild & Free. Los Angeles-based developer Ur- ban Commons has unveiled plans for a $250 million mixed-use develop- ment surrounding the Queen Mary, the famous ship docked in Long Beach. The 700,000-square-foot proj- ect — designed by Gensler and titled Queen Mary Island — will include a main lobby plaza; 2,400-foot board- walk alongside marinas, eclectic re- tail shops, cafes and bars; 200-room hotel; and outdoor amphitheater. Ur- ban Commons assumed the master lease of the ship in April 2016, and subsequently began a renovation pro- gram to restore the ship to its former glory. The company is also collaborat- ing with London-based Urban Lega- cies to develop Urban Adventure, a 150,000-square-foot entertainment facility. The building will offer 20 in- teractive and experiential activities including an indoor ice climbing wall, surfing, skydiving, zip lining and a trampoline park. An expected date of completion for the development has yet to be announced. Also in Long Beach, El Segundo- based CenterCal Properties is de- veloping 2nd and PCH, a retail and restaurant destination that is taking inspiration from an adjacent marina. The center will be anchored by Whole Foods Market when it opens in spring 2019. CenterCal is also developing The Waterfront Redondo Beach, tak- ing a big picture view of retail in the beachside community. The Festival Cos. is active in the Anaheim area with two projects. In Cypress, the company recently com- pleted The Boardwalk along Katella Avenue, a collection of eight fast-ca- sual dining restaurants. At the corner of Ball and Anaheim near Disneyland and the city's downtown, Festival is planning a 120,000-square-foot center that will contain a brewery and res- taurant district. "While entertainment and restau- rants aren't the solution for every project, in the case of Anaheim, they are being developed because it is such a major tourism area of the U.S., and Festival has a lot of experience in tour- ism development based on our office in Hawaii and the other tourism proj- ects we are involved with," says Ro- salind Schurgin, CEO of The Festival Companies. GPI Cos. and LStar Communities have begun construction on a 365 by Whole Foods Market located at Syca- more Hills Plaza, an 80,000-square- foot shopping center located within the master planned community of Sycamore Hills in Claremont. The Sycamore Hills store will be the first 365 location in Southern California's Inland Empire. Tenants set to open at Sycamore Hills Plaza include CVS/ pharmacy, Starbucks Coffee, MOD Pizza, Orangetheory Fitness, Arby's, Supercuts and Lee Spa Nails. The property is scheduled for completion in late 2017. JLL's Scott Kaplan, Erik Westedt and Blake Kaplan, along with Dan Samulski and Ryan Gast of CBRE, are handling leasing at the center. Civic Partners has received approv- al for the development of Artisan Al- ley at The Diamond in Lake Elsinore. Situated on 11 acres, the development will feature 95,000 square feet of retail and restaurant space and a 130-room hotel on the corner of Diamond Drive and Malaga Road. Designed by KTGY Architecture + Planning, the property will be built in two phases with the first phase including a 7,000-square- foot restaurant building, 21,500 square feet of brewery space, 11,200 square feet of retail and a 6,700-square-foot pad building for a restaurant or re- tail space. Artisan Alley will feature a variety of craft breweries, as well as complementary non-traditional food offerings and retailers. Groundbreak- ing is slated to begin early this year, with completion scheduled for 2018. Metro at Main is a new urban mixed-use development in Corona that will feature 60,000 square feet

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