Former Granite Run Mall Site Demolition Completed

The demolition of the former Granite Run has been completed and BET Investments is beginning construction on a new state-of-the-art Mixed-use Development  consisting of ±830,000 square feet of retail, restaurants, and entertainment and ±400 residential apartment units. BET Investments is pleased to be breathing new life into an incredible community and will continue to update our website with the progress of this exciting project.

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Dicks Sporting Goods : Empire Crossing preps for store openings

Dicks Sporting Goods : Empire Crossing preps for store openings | 4-Traders

07/24/2016 | 09:25 pm

empireJuly 24–BLOOMINGTON — Dick’s Sporting Goods — the catalyst for the transformation of a long-dormant east Bloomington shopping center — will open in mid-August.

Dick’s is among several national brand stores, including PetSmart and DSW, opening at the former Colonial Plaza. Its new name, Empire Crossing, 1608 E. Empire St., reflects its retail rebirth.

Colonial Plaza was anchored by Kmart, which closed in January 2015. That site will house Dick’s, HomeGoods, Five Below and Carter’s Oshkosh B’gosh.

The former Circuit City building, located in the same shopping center but separately owned, has been leased to PetSmart.

Dick’s will open at 9 a.m. Aug. 13 with a two-day celebration. A sign in the window of Five Below said its grand opening is Aug. 5.

“We’re excited to be opening this expanded and enhanced Dick’s Sporting Goods, and really feel it will allow us to better serve athletes, sports fans and outdoor enthusiasts in the community,” said Scott Casey, Dick’s Sporting Goods community marketing manager.

The shopping center had a 77 percent vacancy rate last year when owner BT Bloomington committed to a $10 million renovation for Dick’s.

In exchange, the city established a tax increment financing redevelopment project area that includes the shopping center and covers over 82 acres of taxable property, including the Towanda Plaza shopping center on Towanda Avenue.

“The over $10 million transformational redevelopment of the former Kmart building in the new Empire Crossing shopping center is an excellent example of a public-private partnership and is a clear indication that the city of Bloomington is open for business and is willing to partner with private developers to promote investment across the city,” said Austin Grammer, the city’s economic development coordinator.

“The soon to open 50,000-square-foot Dick’s Sporting Goods store has already provided a boost to the local economy though the employment of many locally based contractors and will result in increased job opportunities and new shopping destinations for area residents as the new Dick’s Sporting Goods store is already drawing additional new national retailers to the city,” he added.

Dick’s originally was located on North Greenbriar Drive in Normal. The new location will enable the sporting goods retailer to improve its footwear section and expand its offering of brand shops.

The new Dick’s store will be staffed with about 60 full time and part-time workers.

Enhancements include expanded brand shops, a women’s studio apparel department, a soccer shop, a lacrosse shop and a baseball shop.

“We also widened the aisles, added additional in-store services and expanded the product assortments,” said Casey.

HomeGoods and Carter’s are expected to open before Oct. 31, according to information shared in April by Michael Markman, president of BET Investments, which manages the shopping center.

DSW-Designer Shoe Warehouse, which signed a letter of intent for lease, isn’t expected to open until April.

Spokesmen for those companies either could not be reached for comment or said they were not ready to announce plans.

PetSmart plans to open its store later this year, said spokeswoman Melissa Wenzel. The 23,000-square-foot site that formerly housed Circuit City has been vacant since early 2009.

A grand opening date has not been determined, she said.

“This is a great success,” said Mayor Tari Renner. “It shows that one of our top priorities is to grow the local economy and create jobs.

“Another reason it is critical is this the face of Bloomington when you come from (Central Illinois Regional Airport),” he added. “What we had was a largely abandoned strip mall. Now we’re going to have a very exciting engine of economic growth.”

Follow Maria Nagle on Twitter: @pg_nagle

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(c)2016 The Pantagraph (Bloomington, Ill.)

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Granite Run Mall Comes Down

The Iconic Granite Run Mall comes down paving the way for a new exciting project by BET Investments.

Please check our PROJECT page for updates on the progress of this exciting new

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Montgomery Corporate Center

Dresher, Pennsylvania (January 22, 2016).

BET Investments is pleased to announce that on January 22, 2016 it acquired the Montgomery Corporate Center located at Dryden and Welsh Roads in Dresher, Pennsylvania. The Class A, 4-story office building contains 225,722 rentable square feet on 25 acres and is considered to be one of the premier office buildings in the Suburban Philadelphia market. The primary tenant in the building is Ascensus which currently occupies approximately 170,000 square feet.

The building sits adjacent to 75 acres of raw ground that BET Investments acquired on January 6, 2016. “Together with the Montgomery Corporate Center parcel, we have been able to assemble 100 acres in Upper Dublin Township which has some of the strongest demographics in the Philadelphia suburbs,” stated Michael Markman, President of BET Investments. “We intend to develop the 100 acres to as a mixed use project containing a multitude of uses that compliment the surrounding area.”

For more information contact Michael P. Markman, President of BET Investments, Inc. at (215) 938-7115 or mmarkman@betinvestments.com.

CVS Grand Opening at the Dresher Commons

Dresher, Pennsylvania (October 25, 2015).

BET Investments, Inc is pleased to announce that on October 25, 2015 the long awaited CVS opened for business at the Dresher Commons, a mixed-use development that fronts on both Susquehanna Road and Limekiln Pike in Dresher, Pennsylvania. The CVS pharmacy with a drive-thru contains 13,000 square feet of space. Upon completion, Dresher Commons will include a Chipotle restaurant and additional restaurant space, an office building incorporating the existing Clime house and 24 rental townhouses will be built under the plan approved for the parcel.

For more information contact Michael P. Markman, President of BET Investments, Inc. at (215) 938-7115 or mmarkman@betinvestments.com.

Granite Run Mall Getting a Whole New Look

MIDDLETOWN >> It’s coming — the Promenade at Granite Run, the official name of the upscale town centerto be developed on the site of Granite Run Mall, awaiting the wrecking ball in early November.

At council’s Monday meeting, mall owner/developer Michael Markman, president of Horsham-based BET Investments, presented a timeline for the estimated $20 million mixed-use project on 58-acres that includes retail, restaurant, entertainment and residential components.

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Granite Run Mall Demolition Could Begin in Fall

MIDDLETOWN >> Demolition of the distressed Granite Run Mall — except for the Boscov’s and Sears anchor stores — could begin in the fall, according to attorney Joseph Riper, representing BET Investments.

The Horsham-based firm intends redeveloping the mall site as an upscale town center with residential, retail, restaurant and entertainment components.

Postponed twice, a status report on the proposed project was presented to council at its Feb. 9 meeting by Riper and BET President Michael Markman. It drew no negative comments.

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BET Investments Breaks Ground on Dresher Commons- Mixed Use Project in Dresher, Pennsylvania

Horsham, Pennsylvania (December 19, 2014). BET Investments, Inc., a commercial real estate company owned by Bruce E. Toll, is pleased to announce that on December 15, 2014 it broke ground on a long anticipated mixed use project in Dresher, Pennsylvania. The site contains a total of 9 acres, with frontage on Susquehanna Road and Limekiln Pike. The approved plan calls for a CVS drug store, a Chipotle restaurant and additional retail or restaurant space, twenty four (24) rental townhouses and a small office building that incorporates the existing Clime house on the property.

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BET Investments Outlines Revised Plans for Granite Run Mall Site

MIDDLETOWN >> A revised conceptual plan for a dramatic, estimated $100 million rebirth of the distressed Granite Mall shows an additional 319,000 square feet of new space will be added to proposed retail/residential use to create an upscale, outdoor “town center” atmosphere.

Michael Markman, president of BET Investments and mall owner/developer along with Bruce Toll, said that with greater symmetry than the previous design, the new layout is more visually attractive.

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BET Investments Makes $150M in Property Purchases

BET Investments bought the Abington Shopping Center and a local student housing complex as part of a recent round of $150 million in acquisitions.

Low interest rates have served as one of the big driver of the acquisitions.

In additions to the local buys, the Horsham, Pa real estate company that was formed by Bruce E. Toll, also made out-of-state purchases as it expands its geographic footprint. It bought a student housing project in Tampa, FL and an apartment property in northern Virginia.

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BET Investments Purchases the Abington Shopping Center

Horsham, Pennsylvania (September 12, 2014).  BET Investments, Inc., a commercial real estate company owned by Bruce E. Toll, is pleased to announce that it acquired the Abington Shopping Center located in Abington, Pennsylvania.

The Abington Shopping Center is one of the most well located shopping centers in Abington, Pennsylvania with excellent access and visibility from Route 611 (Old York Road) and London Road. The property contains 75,000 square feet of space and is anchored a variety of national tenants and sits directly across form a Target Store and a TJ Maxx. The population in a 5-mile radius of the property includes over 317,000 people with an average household income of $83,465 per year.

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BET Investments Purchases The Flats at 4200 in Tampa, FL

Horsham, Pennsylvania (August 29th, 2014).

BET Investments is pleased to announce that on August 29th, 2014 it acquired The Flats at 4200 in Tampa Florida.

The Flats at 4200 is the premier student housing community serving University of South Florida (USF) and its 41,311 students. The Flats enjoys the dominant location in the market along the north side of East Fletcher directly across the street from the entrance to campus. Residents are a short walk from classes, the Marshall Student Center, the medical campus, as well as restaurants and nightlife. This irreplaceable location allows residents to walk to the main areas of academic and social activities.

BET Investments is fully integrated real estate development, leasing and management company that was founded by Bruce E. Toll and owns more than 6 million square feet of commercial property and over 2,000 apartment units in 12 states.