1. 9 million sq. ft.
Fenix Development has broken ground on the ;rst phase of The
Watermark|Tempe, a 1. 9 million-square-foot project at the north bank
of Tempe Town Lake in Tempe,
Arizona. The project will be
Tempe’s ;rst vertically integrated
mixed-use development. The ;rst
phase will consist of two buildings
containing 250,000 square feet
of of;ce space, 44,000 square
feet of high-end restaurants and
boutique retail space, and 360
luxury apartments. Future phases
will include an additional 360,000-square-foot of;ce tower, another
20,000 square feet of restaurant and retail space, and a 170-room
hotel. The ;rst phase is expected to deliver in fall 2018.
1. 2 million sq. ft.
Tishman Speyer, with development partner Qatari
Diar Real Estate Co., is constructing The Jacx, two
26-story of;ce towers in Long Island City, New York,
with a shared, 1-acre park atop a ;fth-;oor podium.
Each tower will contain 570,000 rentable square
feet of of;ce space, with ;oor plans ranging from
20,000 to 90,000 square feet. The vertical of;ce
campus will also feature more than 40,000 square
feet of retail space and restaurants, including a food
hall; a 550-space garage with 24/7 valet service; and
a 175-space bike parking area with showers. The
development team is aiming for WiredScore Platinum
and LEED Silver certi;cation. Delivery is expected in
the ;rst quarter of 2018.
686,000 sq. ft.
Ridge, the industrial arm of
Transwestern Development Co.,
has broken ground on Charleston Logistics Center, 686,000
square feet of speculative
industrial space on a 63-acre
site in Jedburg, South Carolina,
approximately 30 miles northwest
of Charleston. The center’s two
buildings have been designed for multitenant use and each will feature
a 32-foot clear height ceiling, 54-by-48-foot column spacing, a 60-foot
staging bay, an ESFR sprinkler system, 64 dock doors, two drive-in
doors, 202 car parking spaces and 76 truck parking spaces.
Forecasting the Future
Skeptics may wonder if too much
technology might detract from the
ultimate goal of store sales. From
a business perspective, research
continues to indicate that time spent
in a shopping center correlates
directly with dollars spent. But there’s
another important component to this
equation: retention. The more Paci;c
Retail can retain loyal patrons and
encourage them to bring others, of all
ages, to build memories with them,
the more successful the center and
its tenants will be. This, in turn, creates more value for the asset.
As The Shops at South Town moves
into a second phase of redevelopment with the opening of additional
digital entertainment options such as
Round 1 Bowling & Amusement, the
positive experience gained by offering
customers exclusive, technologically
savvy experiences proves that digital
integration will continue to grow.