Red Development Finishes Up $258M Legends

Seven more tenants recently opened their doors at the Red Development-owned property, such as a 15,000-sf Forever 21 store, and has signed three new tenants that includes Lane Bryant. The completed portion of the property is 93% completed. The new openings also included Jazz: A Louisiana Kitchen, GNC, Whole Life Healing Center, Le Creuset, Culver's, and Rack Room Shoes. Anchors include a Target, JC Penney and a T.J. Maxx, as well as a 14-screen theater. Rents at the center run about $30 per sf, triple net, according to company leasing agents.

What's left, the spokeswoman says, is 200,000-sf left to build. This includes a 50,000-sf building that will open this summer on the west end of the property. The two-story building will have outdoor patios and rooftop decks, and will include Caliente Cuban Restaurant, Stanford & Son's Comedy Club, Margarita Mama's, Cantina #1 Corona and Hash House a Go-Go.

Also, the company is building two hotels on the site, both which will have 100-120 rooms each. "We haven't announced what the concepts will be," says the spokeswoman. "We're finalizing the leases now. This would be our third hotel, we already have a 96-room Holiday Inn Express." The hotels will be the last facilities built, and should be ready by Jan. 1., the spokeswoman says.

She says the amount of stores has been a big draw for customers. "The progress on the leases have gone extremely well," the spokeswoman tells GlobeSt.com. "We have very little space left to lease, just about every space has a name assigned to it. We continue to add new stores all the time, it really creates an experience, each time a customer comes out they find something new."