VCCUSA Blog

VCC was recently recognized by ENR magazine in their April 16, 2012 issue.

VCC ENR Article

To view the original LA Times Article – Click Here

In a sign of confidence in the region’s recovering economy, developers have resumed construction of a $150-million shopping center in Oxnard.

Work on the Collection at RiverPark, a large outdoor mall intended to look like a small-town shopping district, was halted in 2009 when the nation was in a recession. Consumers closed their wallets and retailers canceled expansion plans.

“There was a lot of fear in the markets in 2008 and 2009, and that has gone away,” said Colm Macken, chief executive of Aliso Viejo developer Shea Properties. “We are seeing employment growth, and retail sales are increasing.”

Most important for Shea: Retailers feel confident enough to sign leases for new stores.

“Fashion tenants and a lot of other tenants we want are back from the sidelines,” Macken said.

At 600,000 square feet, the Collection at RiverPark has a lot of space to fill. There will be about 90 shops and restaurants in addition to anchors Target, Whole Foods Market, REI and Century Theatres.

With commitments from retailers to rent about 40% of the space, Shea and financial partner Oaktree Capital Management felt confident enough to resume construction, Macken said.

Low-price leader Target didn’t pause for the recession and completed its store at RiverPark in July. Next to open will be a 16-screen Century Theatres complex in November. Also coming in the fall are Starbucks Coffee, Menchie’s Frozen Yogurt, Five Guys Burgers & Fries, Panera Bread, Massage Envy and Color Me Mine.

There will also be 60,000 square feet of offices for rent above stores on the main street. Grocer Whole Foods and outdoor outfitter REI are expected to open in the spring.

The Collection at RiverPark lies along the 101 Freeway between the Vineyard Avenue and Oxnard Boulevard exits and takes its name from the nearby Santa Clara River, Macken said.

It will be an outdoor center similar to Victoria Gardens in Rancho Cucamonga, where visitors can park on the street. The mall is intended to seem like a village, with public gathering places that have such features as fountains, sculpture and a children’s play area. Local artists have been hired to paint murals.

Most work on the shopping center will be completed by the end of the year, Macken said.

“We certainly would have liked to open the center earlier, but let’s face it, times have been difficult for all of us,” he said.

The construction at RiverPark reflects a national trend, said Jesse Tron, a spokesman for the International Council of Shopping Centers, an industry trade group. Some stalled shopping centers are being finished, and other malls are being expanded or upgraded.

“There are still not a lot breaking ground,” Tron said.

Several national retail chains are back in expansion mode, he said. “During the recession they were closing stores. Now the opposite is the case.”

With an ever-constant commitment to safety, the VCC team is excited to announce the appointment of John Ellis as Safety Director for VCC.   John brings over 25 years of experience in commercial construction, and has worked as a superintendent for VCC for the past 20 years.     John has proven his commitment to safe projects and understands how challenging it is in our current economic environment.

VCC is always committed to placing our best resources in strategic positions. With our new safety director, we are confident our projects will be more safe than ever.

We wish everyone a safe and productive week!

As always, we enjoy meeting new and exciting candidates for employment here at VCC. Without great people, we would not be the company we are today. VCC recently had the opportunity to attend some college career fairs and looks forward to developing the next generation of construction leaders.

If you have any interest in career opportunities at VCC, please follow this link HERE

VCC has just completed and opened the Chesapeake Square Cinemark XD 12 Theater and Mall Remodel in Chesapeake, VA.   The project had the demolition of an existing 80,000 SF Dillard’s, a new mall entry, and construction of the 46,228 SF Cinemark with a total of 2,122 seats.  The Cinemark has 12 theaters digital screens, 6 of which are 3D capable, and one of Cinemark’s new XD theater system.   The project was completed on time, with great quality.

VCC is proud to have a lasting relationship with Cinemark and wishes them the best at their new location.

The entire VCC team wishes everyone a healthy, happy and prosperous new year. As we embark on our 25th Year Anniversary, VCC is especially excited for the successes that 2012 holds.

Lets make this year great together!

Sincerely,

The VCC Team

All of us at VCC would like to celebrate this holiday season with gifts in your name to Easter Seals Arkansas and Youth Home, Inc.

May peace, joy, hope and happiness be yours during this Holiday Season and throughout the New Year from your friends at VCC.

As seen in Nashville Business Journal….

Construction permits continue to be issued for Opry Mills mall, where a number of repair projects are underway following last year’s flood that caused more than $200 million in damage to the destination retail center.

Metro Nashville this week has issued a total of $1.2 million in permits for rehab work at the mall…..VCC LLC will oversee the rehab of Saks Fifth Avenue.

The mall’s grand reopening is planned for March 2012.

http://www.bizjournals.com/nashville/news/2011/11/29/permits-issued-for-opry-mills.html

VCC is proud to be a Gold Sponsor of the 2011 ICSC Centerbuild conference. We appreciate and support the mission of ICSC to continue connecting professionals in the retail real estate industry and influencing our markets in a positive direction.

For more information on ICSC and the conference please visit the following links:

ICSC Website

Centerbuild Information