Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/739734
S I T E S & C I T I E S N ot even a great location is any g u a r a n t e e o f s u c c e s s . U l t i - mately, a real estate site is only as good as what gets built there. And this is precisely what one development partnership is looking to demonstrate in the Nashville, Tenn., neighborhood of Bellevue. A mall that once stood there was closed down in 2008 and has since been razed, to be replaced next year with a mixed-used de- velopment containing a host of retail. What happened? "It never popped," said Tony Vaughn, a partner and an executive vice president at the Nashville office of Colliers International. "We have the Green Hills Mall and CoolSprings mall, which cater to wealthier demographics and are part of the same trade area." Charlotte, N.C.–based Crosland South- east and partner Atlanta-based Branch Prop- erties acquired the property last year. "This area is a good, solid, middle-class community," said Tim Sittema, a managing partner of Crosland Southeast. Sittema says he considered the site a "hidden gem," an in- fill location surrounded by fully developed communities and seated at the important in- tersection of Interstate 40 and U.S. Highway 70. "It had fantastic access, with five traffic lights, and at 87 acres it was large enough to do something transformative," Sittema said. In some ways, argues Vaughn, Bellevue has been underserved. "There are two Publix stores and two Krogers in the area, but there has been limited QSR [quick-serve restaurants] and limited casual dining," he said. "The Car- mike Cinema was old and dated." Indeed, that may be why the movie house will migrate about a mile down the road to One Bellevue Place, as the new development is called. One Bellevue Place will comprise some 375,000 square feet of retail plus roughly 300 apartments and a 100-room Suites by Hilton hotel. The second phase will add of- fice and medical space and more entertain- ment. There is a Publix on the site, though it is not part of the redevelopment, which will get a new Sprouts grocery store as an an- THE RIGHT NOTE One Bellevue offers a new vision for a prime Nashville site By Steve Bergsman CENTER PROFILE The Gwinnett County, Ga., Con- vention & Visitors Bureau chose North American Properties to over- see development of its Infinite Energy Center project, a mix of residential and retail space in suburban Atlanta. The site is cur- rently home to a 13,000-square- foot arena, con- vention center, and performing- arts facility. PEACHY PROJECT