Horne Plaza, Gilbert, Arizona — We recently completed the acquisition and redevelopment of a vacant Albertsons store in the Phoenix metro area. The building was demised with a new Smart & Final Extra store (35,949 sf) and an existing 99 Cents Only (17,000 sf). The renovation and build-out was completed in seven months.
Durango Arby Plaza is an 80,000 sf shopping center currently under construction in Las Vegas at the southeast corner of Durango Drive and Badura Avenue. The center, which will be anchored by EoS Fitness (formerly Gold's Gym), is located at the southeast quadrant of the Durango / I-215 interchange ... with IKEA now under construction at the northwest quadrant and a future site of Station Casinos at the southwest quadrant. EoS Fitness is now pre-selling memberships and is expected to open during the third quarter of 2015.
Las Vegas — Boulder Village Center ... to be anchored by a Walmart Neighborhood supermarket to be developed at the northeast corner of Boulder Highway and Russell Road. Construction is targeted for early summer, 2016, with an opening scheduled for late spring, 2017. The project is located in close proximity to Sam Boyd Stadium and two major developments now under construction: Union Village Health Center, a $1.2 billion, 155-acre integrated health village, and Cadence, a 2,200-acre master-planned community.
Las Vegas, Nevada — Ultra Star Multi-entertainment facility currently in the design and predevelopment phase. Facility will be two-story, 165,000 sq ft, and include: 12-screen cinema, featuring stadium seating and Star Class balconies; 24-lane technology advanced bowling facility; Urban Arena Laser Tag; state-of-the-art video arcade, featuring the newest and hottest video and redemption games; event and party facilities; and a variety of restaurants, featuring full-service bars and cutting edge audio and visual systems.
Desert Hot Springs, California — Construction will soon begin on the demising of a 95,068 sq ft Kmart store to accommodate co-tenanting for a new Rio Ranch supermarket of 28,905 sq ft. The store opening is scheduled for November, 2014. Delta is pursuing similar projects throughout the western states to demise and re-tenant vacant big-box stores, such as closed Kmart and Walmart stores. Redevelopment of existing properties is now the focus of expanding retailers and aggressive investment companies.