Awards and Recognitions for Redeveloped Shopping Center

Combined Properties, Incorporated is proud to announce that the recently redeveloped Lincoln & Rose Shopping Center in Venice, CA has been named theGrand Prize winner of Retail Traffic magazine’s annual Superior Achievement in Design & Imaging (SADI) award! This international competition recognizes outstanding achievement in creating beautiful and successful retail environments. The project also won a SADI in the Renovated or Expanded Community/Power Center category.

This tremendous honor follows other such recognitions for the Lincoln & Rose project including:

– Winner of 2008 Commercial Building Award from the Southern California Development Forum
– Winner of two (2) Golden Nugget Awards of Merit in the Outstanding Retail Project and Outstanding Rehab Commercial or Industrial Project categories from the Pacific Coast Builders Conference

Ronald S. Haft, Chairman and CEO of Combined Properties, said: “The Lincoln & Rose project reflects Combined Properties’ commitment to building sustainable projects with a vibrant architectural flair. This shopping center has been warmly embraced by the Venice community and it has become the outdoor living room and meeting place that we originally envisioned for the property. ”

Retail Traffic’s September issue contains a SADI Award supplement where David Bodamer, Editor-in-Chief of Retail Traffic, wrote:

“… a rather unlikely project emerged as this year’s Grand SADI winner. In years past, SADI judges have recognized luxurious projects that show where every dollar was spent in design and construction. This year, a more modest project, a center of less than 100,000 square feet in Venice, Calif., took the top honor. … What sets it apart is that the owners and architects opted to go the extra mile.”

In the supplement, the Combined Properties’ Lincoln & Rose project received the following write-up:

“The project goes far and beyond what could have been a run-of-the-mill shopping center. The project is a renovation of a tired 1960s neighborhood center … In its place has emerged a project that respects its context while “beautifying the neighborhood” and bringing in higher quality tenants. At its best, the project “points to future opportunities for rethinking retail” and “transcends expectations” of what a power center can be. And for that, the judges made a statement that Lincoln & Rose should be a trendsetter for the industry.”

Project Background

Fully leased prior to completion in late 2008, Lincoln & Rose was the revitalization of an existing 75,000 square foot retail center along Lincoln Boulevard in Venice, California. Originally built in the 1960’s, the shopping center had become blighted: suffering from awkward additions, an influx of low-rent tenants, crime and general disrepair. The primary objective of the project was to transform the site into a community gathering place and attract tenants that would be beneficial to the area. Toward this effort, the project modified the interior spaces to accommodate Whole Foods, increased the width of sidewalks to encourage pedestrian activity, established an inviting atmosphere and created a distinctive and innovative building exterior that reflects the character of this unique beachside community.

Designed by Studio One Eleven at Perkowitz+Ruth Architects, the redevelopment of Lincoln & Rose Shopping Center included an extensive façade renovation, new exterior lighting, a new site and landscape plan and a cohesive signage program. Sustainability was fundamental to the redesign of Lincoln & Rose. Through the reuse of the existing buildings, construction was minimized and products containing recycled content were used wherever possible. The site plan was carefully designed to increase permeable surfaces by 250% and the introduction of a bio-swale around the perimeter of the project permits filtering of storm water. The landscape plan features a composition of drought-tolerant and native plants and the parking lot was redesigned to allow for the planting of 60 new trees that shade cars and reduce the heat island effect of asphalt paving. Pedestrian connections to existing transit stops and abundant bicycle parking encourages people to arrive at the project through alternative modes of transportation.

The project was one-hundred percent leased prior to completion, greatly increasing the value of the property. But most important, Lincoln & Rose has been embraced by the community and become the outdoor living room and meeting place that was originally envisioned. Its success has proven to be a positive example and has encouraged additional future economic investment along a long-neglected arterial corridor.

Firm Background

Combined Properties, Incorporated is a full-service real estate firm headquartered in Washington, DC with an office in Beverly Hills, CA. Founded in 1984, Combined Properties has consistently been ranked as one of the top private owners of retail centers in the Washington metropolitan area. With a portfolio comprised of 5 million square feet and a $400 million development pipeline, the firm is now branching out from its concentration in retail real estate by applying its multidisciplinary expertise in the areas of development, asset management, leasing, and finance, to developing innovative mixed-use properties.

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