Majestic Realty Retail Lands New Retailers at Mountain Grove
REDLANDS, Calif.--(BUSINESS WIRE)--Majestic Realty Retail announced today that it has signed lease agreements with four new retailers at its Mountain Grove at Citrus Plaza retail and entertainment center, including agreements with The Gap (7,500 square feet), Banana Republic (7,500 square feet), Old Navy (15,000 square feet) and ULTA (10,000 square feet). An additional 100,000 square feet of national and regional tenant leases are under negotiation and expected to be signed in September 2014.
“With a proven history of success for tenants at Citrus Plaza, including some of the best sales volumes in the western United States for their respective companies, we’re seeing strong interest and continued momentum as the development of Mountain Grove progresses”
With the April 2014 groundbreaking of the 468,000-square-foot Phase I, Mountain Grove is the largest retail project under construction in Southern California and is scheduled to open in summer 2015. The center is adjacent to Majestic’s Citrus Plaza in the heart of the Inland Empire at the northwest corner of the Foothill (I-210) and San Bernardino (I-10) freeways.
“We’re very excited to welcome each of these proven retailers to our growing mix of high-quality and diverse tenants that will be opening in Mountain Grove,” said Majestic Realty Co. Vice President and Director of Development, John Hunter.
Complimenting the 520,000-square-foot Citrus Plaza, Mountain Grove will help elevate the area’s premier shopping center destination with new tenants including: Nordstrom Rack, buybuy Baby, T.J. Maxx, HomeGoods, Hobby Lobby, Tilly’s, 24-Hour Fitness and many other national and regional retailers.
At full build out, Mountain Grove will add another +/-670,000 square feet of retail, dining and entertainment tenants to serve the region’s growing population.
“With a proven history of success for tenants at Citrus Plaza, including some of the best sales volumes in the western United States for their respective companies, we’re seeing strong interest and continued momentum as the development of Mountain Grove progresses,” said Majestic’s Hunter.
About Mountain Grove at Citrus Plaza
Mountain Grove is a 67-acre retail and entertainment shopping center development that is contiguous to Majestic Realty’s highly successful Citrus Plaza shopping center in Redlands, Calif. At full build-out, Mountain Grove will include 670,000 square feet of tenants. Together, Mountain Grove and Citrus Plaza will offer 1.2 million square feet of retail, hospitality and entertainment uses in what industry leaders rank as one of the country’s strongest retail markets.
About Majestic Realty Retail
Majestic Realty Retail is a division of Majestic Realty Co., the nation’s largest, privately held commercial real estate development company. Founded in 1948, Majestic Realty Co. is a fully integrated development, leasing, construction and management company with offices in six states and a team of more than 200 professionals. The Majestic portfolio consists of approximately 70 million square feet and includes industrial, retail, office, hospitality and entertainment facilities.