Bluffs' newest shopping development: The Marketplace
A March 2008 opening is anticipated for The Marketplace Council Bluffs, a 400,000-square-foot retail shopping center on the southeast corner of the South 24th Street-Interstate 80 interchange.
Joe Kutilek, a partner with John Hughes in Omaha-based Magnum Development Corp., confirmed that plans have been submitted to the Council Bluffs Community Development Department.
"We're just going through the site plan," he said. "Just a commercial development, retail, 50 acres."
Kutilek said the plans are expected to go to the Planning Commission for review on Oct. 10. Leases aren't finalized, but plans call for a 103,000-square-foot anchor tenant. The property already is zoned for commercial use.
Magnum has a concept for how the company would like to develop The Marketplace, but Kutilek said there are still a number of processes to go through with the city; and he can't say how many tenants eventually would locate there.
The Marketplace joins Metro Crossing Shopping Center as a new Council Bluffs retail development. The City Council has approved Metro Crossing's preliminary plans. That project is planned for 85 acres west of Interstate 29 between the South Omaha Bridge Road and the Lake Manawa Power Centre.
It is expected to offer more than 500,000 square feet of retails space with room for as many as 30 different stores, with Kohl's department store as a likely anchor. Mark Anderson of Anderson Construction, CB Richard-Ellis and Kimco Realty Corp., one of the nation's leading retail developers, are involved with Metro Crossing.
Mayor Tom Hanafan said he heard a proposal for The Marketplace a few months ago and wasn't certain that it would happen.
"We're seeing a lot of different developments we didn't see before," he said. "That's nice to see."
Magnum Development buys existing properties and upgrades them and often brings in new tenants, Kutilek said. The company is involved in a 60-acre project with a Super Target at 120th and L Street in Omaha where dirt is expected to begin moving this fall. Magnum is partnering with Cormac, an Omaha-based commercial developer, on that project.
The development of the former Ak-Sar-Ben Racetrack property is another Magnum project, and Kutilek said the firm does much of its work outside the metro area.
Joe Kutilek, a partner with John Hughes in Omaha-based Magnum Development Corp., confirmed that plans have been submitted to the Council Bluffs Community Development Department.
"We're just going through the site plan," he said. "Just a commercial development, retail, 50 acres."
Kutilek said the plans are expected to go to the Planning Commission for review on Oct. 10. Leases aren't finalized, but plans call for a 103,000-square-foot anchor tenant. The property already is zoned for commercial use.
Magnum has a concept for how the company would like to develop The Marketplace, but Kutilek said there are still a number of processes to go through with the city; and he can't say how many tenants eventually would locate there.
The Marketplace joins Metro Crossing Shopping Center as a new Council Bluffs retail development. The City Council has approved Metro Crossing's preliminary plans. That project is planned for 85 acres west of Interstate 29 between the South Omaha Bridge Road and the Lake Manawa Power Centre.
It is expected to offer more than 500,000 square feet of retails space with room for as many as 30 different stores, with Kohl's department store as a likely anchor. Mark Anderson of Anderson Construction, CB Richard-Ellis and Kimco Realty Corp., one of the nation's leading retail developers, are involved with Metro Crossing.
Mayor Tom Hanafan said he heard a proposal for The Marketplace a few months ago and wasn't certain that it would happen.
"We're seeing a lot of different developments we didn't see before," he said. "That's nice to see."
Magnum Development buys existing properties and upgrades them and often brings in new tenants, Kutilek said. The company is involved in a 60-acre project with a Super Target at 120th and L Street in Omaha where dirt is expected to begin moving this fall. Magnum is partnering with Cormac, an Omaha-based commercial developer, on that project.
The development of the former Ak-Sar-Ben Racetrack property is another Magnum project, and Kutilek said the firm does much of its work outside the metro area.
posted by Susan VanSlyke at 6:19 AM
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