Simon is planning a $20 million renovation to Circle Centre shopping center in downtown Indianapolis. The group may add apartments or condos to the retail space -- either within the existing footprint or as an expansion -- and will overhaul entrances, lighting and the food court.
Shorenstein Properties plans to invest roughly $20 million to upgrade Center Plaza in Boston, including by improving the location's open-air pedestrian walkway. The location will soon feature more locally owned restaurants and high-end shops, Shorenstein's Kevin Kuzemchak said.
Part of WinCo Foods' push to expand in the Dallas area includes the redevelopment of an aging grocery-anchored center in the Lewisville submarket for $20 million. A portion of Old Orchard Village East will be demolished and an 85,000-square-foot grocery store built in its place to anchor the 226,000-square-foot retail center.
DDR plans to redevelop four shopping centers with Wal-Mart serving as an anchor. At two retail centers in Florida, Wal-Mart will build or acquire anchor space at DDR properties. At DDR's retail centers in Boardman, Ohio, and Humacao, Puerto Rico, Wal-Mart will expand its presence. DDR is investing $20 million in the projects and expects to realize a net return of greater than 10%.