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SACRAMENTO-General Growth Properties Inc. will be finding the tenants for Palladio at Broadstone, an open-air center set to open in late 2008 in a master-planned community in the Sacramento suburb of Folsom. Elliott Homes recently hired the Chicago-based public mall REIT to provide predevelopment and leasing services for 770,000-sf, open-air center scheduled to open in fall 2008.

The mixed-use development is expected to include specialty and boutique retailers, restaurants, a gourmet grocery, cinema and office space. The architecture will pay homage to its namesake, Renaissance architect Andrea Palladio.

Elliott Homes began construction of the 2,000-acre Broadstone master planned community in 1989. The Palladio at Broadstone will be located at East Bidwell Street and Broadstone Parkway, adjacent to a planned one million-sf Kaiser medical campus. Construction of the retail center is scheduled to begin by fall of 2007.

Last month, GGP announced it will co-develop an open-air center in another master-planned community, this one in Oconomowoc, WI. The one million-sf development, called Pabst Farms Town Centre, will be part of the 1,500-acre Pabst Farms community. This project will be GGP’s fourth Wisconsin center.

Also last month, GGP launched an 18-month renovation and 245,000-sf expansion of Clackamas Town Center, the first major expansion of the Portland, OR, mall in the past 20 years. The estimated $100-million endeavor will add 40 new stores and restaurants and a 20-screen theater in two “lifestyle villages” connected to the 1.2-million-sf mall on the east and west sides of the existing Meier & Frank department store. Project completion is scheduled for November 2007, the same year contractors are scheduled to begin building a 6.5-mile extension of the region’s light rail from the Gateway Transit Center to the mall.

In May, the company signed a deal to acquire 1.4 million sf of space in some of its developments from Federated Department Stores with plans to either replace them another department store operator or convert them to retail shops and restaurants.

GGP is the second largest US-based public REIT, with more than 200 million sf in 200 shopping malls in 44 states.

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