DEVELOPMENT/REDEVELOPMENT

Orrico: ‘Developing today’s retail is a community thing’
National Realty & Development Corp. has been in business for some 50 years, and privately held for all that time. It is one of the Northeast’s premier retail owners and developers, with a portfolio of 78 centers. But a ground-up development in Middletown, New Jersey, has served to crystallize what brick-and-mortar retail is all about for longtime president John Orrico.
Big-box bonanza is destined for Staten Island

Joshua Weinkranz

Abilene to get largest shopping center in a decade

Prestige Development Group is about to break ground on a 171,027-sq.-ft. shopping center in Abilene, Texas. Nearly 85% of The Shops at Abilene Village are pre-leased by a tenant lineup that includes Burlington, Petco, and Academy Sports + Outdoors. It will be the first store in the Abilene market for Burlington, and Academy is relocating from a 50,000-sq.-ft. location to claim 72,000 sq. ft.in of space at The Shops.
Makeover complete at L.A. area center

A formerly troubled center in an affluent community south of Los Angeles has capped off an 18-month, $17 million renovation. Just two years ago, The Vestar-owned Peninsula Center in Rolling Hills Estates was plagued by several vacancies and an image not in keeping with standards in the community, which has a median household income of $144,000. Today Orchard Supply Hardware and Ulta Beauty occupy the made-over center, along with new dining options Chipotle and The Habit Burger Grill.

Orrico: ‘Developing today’s retail is a community thing’