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September 17, 2014

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CRE January 2010

ROUNDUP:

Henderson retail highlights include big and small boxes

While early 2009 saw large-scale Henderson commercial project openings such as Cashman Equipment and the M Resort, a few other retail faces have either surfaced recently or will be coming online soon.

Kohl’s department store opened a new Henderson location in October. The retailer, which has a stand-alone location on Valle Verde Drive near I-215 in Henderson, took over the two-story space from bankrupt Mervyn’s department store at the north end of the Galleria at Sunset shopping mall.

That space was part of a national lease takeover where Kohl’s assumed 46 leases from Mervyn’s for a mere $6.25 million. The Galleria site was included in the package. The store was one of three opened by Kohl’s in 2009, putting the chain’s total valley store count at eight.

Green Valley Crossing

October also saw the opening of Target at Green Valley Crossing shopping center, on the southwest corner of Horizon Ridge Parkway and Green Valley Parkway. The store is a “p-fresh” hybrid store concept Target is using with some Nevada locations, which includes a limited grocery section in addition to its traditional discount department store concept.

“It’s really just a response to the needs of the main core of our guests who want a one-stop shop,” said Kyle Thompson, a Target spokesman.

The Green Valley store was developed by Juliet Properties, which also developed the Target-anchored Lake Mead Crossing at the intersection of Water Street and Lake Mead Parkway, in Henderson.

Also on deck for Green Valley Crossing is Glazier’s Food Marketplace, an independent grocery store that will eventually occupy a 70,000 square foot pad on the north end of the site, said John Stewart, a principal with Juliet. In September, Glazier’s opened its southwest valley location, a $6 million project at the intersection of Durango Drive and Warm Springs Road. The project was built by Ledcor Construction and designed by Perlman Architects.

The concept for Glazier’s is that of an affordable specialty grocer with a full deli, bakery, prepared foods, non-perishables, sundries and other items. Stewart hopes to start construction on the Green Valley Glazier’s by end of the first quarter, in hopes of an opening date in late summer 2010.

Lake Mead Crossing

Juliet’s 73-acre Lake Mead Crossing is adding some new faces in the coming year. The Gibson Library’s 20,000-square-foot facility is moving forward. R & O Construction is the contractor. A Carl’s Jr. and Discount Tire location are also slated to come online this year, Stewart said.

Other retailers at the site, which opened in 2008, include Marshalls, Staples, Hallmark, Radio Shack, GNC and T-Mobile. About 90 percent of the first 400,000-square-foot phase is leased, Stewart added.

Coronado Canyons

The Shoppes at Coronado Canyons, a 74,760-square-foot boutique retail marketplace at the southeast corner of Green Valley Parkway and Horizon Ridge Parkway, will likely sit vacant for the foreseeable future.

The property is caught up in legal limbo, as Community Bank of Nevada, the lender on the $29 million project, was taken over by the FDIC in August. Meanwhile, the developer, McCormick Investments, and the bank are battling in court over $2.8 million in tenant improvement financing allegedly not made available by Community Bank. Until the legal wrangling is completed, leasing is impossible, said Dan Hubbard, the Commerce CRG leasing agent.

One 55 Water

November saw the opening of One 55 Water, a city café at 155 Water Street in downtown Henderson. Owners Jennifer Powers and Kim Korastinsky are quickly becoming local favorites with their simple café menu. Korastinsky likes what she refers to as a “town center” feel in downtown Henderson, and the pair are enjoying brisk business from many downtown city workers.

“I would say the best thing about the place is that it’s all homemade. There aren’t any cans in here,” Korastinsky said.

Located in the Meridian building, One 55 Water offers sandwiches, soups, homemade breads, quiches and desserts. It’s open from 7 a.m. to 4 p.m. everyday, except Sundays.

Roberto’s Taco Shop

At the corner of Sun City Anthem Drive and Bicentennial Parkway is a new Roberto’s Taco Shop. The 1,300-square foot, 24-hour burrito shop opened late last year. Today, the chain has 45 valley locations. Thirteen of these have opened in the past 18 months, said Reynaldo Robledo, who oversees the family’s LLC — owners of the San Diego-based chain. The first Roberto’s was opened in 1964.

Robledo has used Bentar Construction and General Design and Construction for several tenant improvements.

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