(For more retail coverage, click GlobeSt.com/RETAIL.)
BLOOMFIELD HILLS, MI-Mall owner/developer Taubman Centers Inc. says it has a flurry of activity taking place in the second half of 2005 at its various properties, including the opening of a new mall and the addition of new anchors at several of its malls.
"We have several exciting projects under construction and a strong development pipeline," said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. " We also have other projects that are in the early stages and not yet announced. We are very confident that we will be able to sustain our development goal of profitably investing at least $100 million to $150 million on average annually over the foreseeable future."
Key among the company's development projects is the Northlake Mall in Charlotte, NC. The mall, slated to open Sept. 15, recently named 30 additional tenants, in addition to more than 90 previously named. The 1.1-million-sf shopping center will feature up to 150 stores and restaurants, plus five anchors: Dillard's (86,000 sf), Belk (180,000 sf), Hecht's (165,000 sf), Dick's Sporting Goods (76,000 sf) and a 14-screen AMC megaplex (60,000 sf).
Another major new deal for the company is at its Waterside Shops at Pelican Bay in Naples, FL. An expansion of the main mall will be completed in November of this year and Taubman recently announced Waterside would be adding a new anchor, a Nordstrom store. Construction of the Nordstrom is expected to be complete in fall 2007 or spring 2008. Another new Nordstrom store is being constructed for the Twelve Oaks Mall in Novi, MI. Completion at Twelve Oaks is planned for fall 2007.
Other projects to be completed before the end of the year include a New City Furniture store, the Mall at Wellington Green, Wellington, FL; and a new cinema and restaurants at Woodland mall, Grand Rapids, MI.
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