HOW TO BUILD A BETTER
LIFESTYLE CENTER
PROJECT
OVERVIEW
1
THE PLAZA AT ROSEDALE CENTER
Owned by Prime Property Fund and managed by Morgan Stanley and Jones
Lang LaSalle, The Plaza at Rosedale Center represents $50 million in new
construction that includes outward facing store fronts, additional sidewalks,
be dedicated to retail but also offer access to the theater, while the upper level will feature dining,
entertainment and the theater’s main entrance, along with additional retail. The two levels will be
connected by a delightful grand staircase.
As of August 11, 2005, Rosedale Center is pleased to announce AMC Theatres as a partner in
improvements to the surrounding streets and a relocated transit hub.
the proposed project. The AMC theatre will include a 14-screen megaplex theatre and boast
On May 9, 2005, the Roseville City Council gave Morgan Stanley approval to
unobstructed viewing, digital surround sound, an automated box office and AMC’s exclusive Love-
build a 181,831 square foot lifestyle center known as The Plaza at Rosedale
seat style seating™ with plenty of comfort and legroom. The Plaza is also to include a bookstore,
Center. The Plaza at Rosedale Center breaks tradition as the first super
restaurants, jewelry store and up to twelve upscale retailers on two levels.
regional shopping center in the market to add a dynamic combination of
entertainment, lifestyle and fashion retailers in a complementary open-air
design.
The project’s design is focused on convenience with curbside parking in
front of retail stores and a pedestrian friendly shopping experience offering
easy access between the Center and Plaza. The Plaza’s lower level will
approximately 2,500 seats. The theatre will also feature all stadium seating with 18-inch risers for
Demolition of the former Mervyn’s department store is slated to begin on August 22nd, 2005. The
construction phase is expected to take a little more than a year with a projected opening date prior
to the 2006 holiday season.
ALL ACCESS
TO ARRANGE FOR AN INTERVIEW
OR PLAN A SITE TOUR, CONTACT:
DEMOLITION
BEGINS AUGUST 22ND
ROBIN WEEKS-WYNNE, CMD
Senior Marketing Manager
Jones Lang LaSalle - Retail
Rosedale Center
Direct:
651.746.5303
Fax: 651.638.3599
Email: [email protected]
EMILY KRAKER
Assistant Marketing Manager
Jones Lang LaSalle - Retail
Rosedale Center
Direct:
651.746.5302
Fax:
651.638.3599
Email: [email protected]
Lower Level
Lower Level Elevation
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IMAGES
Upper Level
Upper Level Elevation
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IMAGES
Theater Elevation 1
Theater Elevation 2
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Theater Elevation 3
Theater Elevation 4
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TIMELINE
& HISTORY
4
Rosedale Center
Year
Year
Minneapolis - St.Paul
1955
1955
Southdale Center opens
1962
1962
Brookdale Center opens
1969
1969
1970
1970
Southdale adds JCPenney
1972
1972
Northtown Mall opens
1973
1973
Galleria Opens
1974
1974
Maplewood Mall, Ridgedale Center Open
1976
1976
Eden Prairie Center opens
Rosedale adds JCPenney
1977
1977
Burnsville Center Opens
Equitable Life (Prime Property Fund) purchases Rosedale
1978
1978
Equitable Life (Prime Property Fund) purchases Southdale, Brookdale, Ridgedale
Rosedale adds Montgomery Ward
1979
1979
1982
1982
City Center opens in downtown Minneapolis
Rosedale Donaldson’s becomes Carson Pirie Scott
1988
1988
All metro Donaldson’s convert to Carson Pirie Scott stores
General Growth acquires Center Companies, begins managing Rosedale
1989
1989
General Growth acquires Center Companies, begins managing Southdale, Brookdale
Rosedale Center/ Minneapolis St. Paul Development Timeline
Rosedale Center opens
Gaviidae Common opens in downtown Minneapolis, anchored by Sak’s Fifth Avenue
The Rouse Company acquires part interest in Ridgedale, assumes management
TIMELINE
& HISTORY
Dayton’s opens expanded Rosedale store
1990
1990
Dayton’s opens expanded Southdale, Burnsville stores
1991
1991
Southdale renovation completed
Gaviidae Common II opens in downtown Minneapolis, anchored by Neiman Marcus
Rosedale renovation completed
1992
1992
Mall of America Opens
Carson Pirie Scott leaves Metro market
1995
1995
Carson Pirie Scott leaves Metro market
Dayton-Hudson buy CPS location, installs Mervyn’s
Dayton-Hudson buy CPS locations, installs Mervyn’s (2nd Dayton’s at Ridgedale)
General Growth buys Homart (Eden Prairie Center)
Compass Retail begins managing Rosedale
1996
1996
Compass Retail begins managing Southdale
Maplewood Mall adds Dayton’s, Mervyns
Montgomery Ward files for Chapter 11 protection
1997
1997
Lend Lease acquires Equitable Real Estate Services, Compass Retail, creates ERE Yarmouth
Montgomery Ward closes Rosedale location
Montgomery Ward files for Chapter 11 protection
Lend Lease acquires Equitable Real Estate Services, Compass Retail, creates ERE Yarmouth
1998
1998
Sak’s purchases Rosedale former Montgomery Ward location
Montgomery Ward closes metro stores
Sak’s purchases 2 other Montgomery Ward locations along with Rosedale locations
Rodamco acquires Maplewood Mall, hires Simon to manage
Prime Property Fund sells Southdale to The O’Connor Group, Wells Park becomes property manager
Sak’s opens the Rosedale Herberger’s
1999
1999
Jones Lang LaSalle acquires property management division of ERE Yarmouth
Sak’s opens 2 other Herberger’s along with Rosedale
Jones Lang LaSalle acquires property management division of ERE Yarmouth
2000
2000
The O’Connor Group hires JLL to manage Southdale after Simon acquires Wells Park
TIMELINE
& HISTORY
Target converts Rosedale Dayton’s store to carry Marshall Field’s name
2001
2001
Dayton-Hudson changes corporate name to Target, Inc.
2002
2002
Target converts Dayton’s stores to carry Marshall Field’s name
O’Connor sells Southdale to Blackstone, who hires Urban Retail as property manager
The Rouse Company acquires full ownership of Ridgedale
Morgan Stanley acquires Lend Lease U.S. asset management interests
2003
2003
Morgan Stanley acquires Lend Lease U.S. asset management interests
Simon acquires Rodamco (Maplewood Mall)
Target sells Rosedale Marshall Field’s, Mervyn’s stores to May Department Stores
2004
2004
Prime Property Funds converts Rosedale ownership structure to private REIT
Target sells all Marshall Field’s, metro Mervyn’s stores to May Department Stores
1st Lifestyle Center, Shoppes at Arbor Lakes, opens
Rosedale Mervyn’s closes in August
Metro Mervyn’s store locations close over the Summer
General Growth acquires the Rouse Company (Ridgedale)
Downtown Minneapolis Sak’s Fifth Avenue downscales to Sak’s Off Fifth
Prime Property funds purchases Rosedale Mervyn’s building, parcel
2005
2005
Roseville city Council approves plans for The Plaza at Rosedale Center
Blackstone sells Southdale to Mills Company
2nd Lifestyle Center, Woodbury Lakes, projected to open
JCPenney opens in remodeled former Mervyn’s locations in Maplewood Mall, Woodbury
The Plaza at Rosedale projected to open 2006
2006
TERMS
5
Super-Regional Center
Power Center
Category-dominate anchors; few small tenants
Similar to a Regional Center but with more variety and assortment; enclosed with a deeper selection of merchandise and
draws from a large population base
Regional Center
General merchandise; typically enclosed; fashion-oriented
Lifestyle Center
Upscale specialty stores; dining and entertainment in an outdoor setting; outward facing stores
Outlet Center
Manufacturers’ outlet stores
Neighborhood Center
Convenience shopping; 30,000 – 100,000 square feet
of gross leaseable area
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ALL THE IMAGES IN THIS BOOK ARE INCLUDED ON THIS CD
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LOWER LEVEL :
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LOWER LEVEL ELEVATION
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UPPER LEVEL RENDERING
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UPPER LEVEL ELEVATION
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THEATER ELEVATION 1-4
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TIMELINE & HISTORY
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The Plaza at Rosedale Center
10 Rosedale Center
Roseville, MN 55113
www.myrosedale.com