New Construction

For more information, contact Arthur Bressman at (914-454-3335), Fax (454-4485).

Grubb & Ellis plans to break ground on Park Commons, a 140,000 sq.ft. mixed-use center located on Excelsior Boulevard in St. Louis Park, MO. Spaces of 25,000 sq.ft., 35,000 sq.ft. and 60,000 sq.ft. are available. Demographics show a population of 1.007 million residing within 10 miles earning $70,000 as household income. The daily traffic count is 25,000 cars. The market rent is in the mid-twenties, as is the asking rent. The project, which sits on an urban grid, includes approximately 500 living units and 60,000 sq.ft. of office space. A Spring 2002 opening is planned.

For more information, contact Matt Friday or Alan Bloom at (952-912-8585), Fax (912-0123).

Belz Enterprises plans to open Centennial Crossing, a 430,000 sq.ft. power center on 43 acres anchored by Costco and Lowe’s, and located at the intersection of Winchester and Hacks Cross Roads in Memphis, TN this fall. Two outlots of 50,200 sq.ft. are available. Demographics show a population of 138,000 residing within five miles earning $86,000 as household income. Riverdale Crossing, Home Depot, Kroger Kmart and Wal*Mart operate nearby.

For more information, contact Gil Ryan or Adam Slovis at (901-260-7200), Fax (260-7203).

Can Am Retail Partners is currently developing Albertson’s Klamath Falls, a 60,000 sq.ft. strip center anchored by Albertson’s and located at the intersection of Homedale and South 6th Street in Klamath Falls, OR. Spaces of 854 sq.ft. and 2,042 sq.ft. are available. Other tenants include Hollywood Video and Little Caesars. Demographics include a population of 11,654 residing within three miles earning $36,000 as the average income. The daily traffic count is 47,000 cars, and the asking rent is $17 psf with CAM of $2.50. A July 2000 opening is planned. The company is also developing Albertson’s Baton Rouge, a 75,000 sq.ft. strip center anchored by Albertson’s and located at the intersection Airline Highway and Highland Road in Baton Rouge, LA. Spaces of 1,260 sq.ft. and 10,000 sq.ft. are available. Other tenants include KFC, Taco Bell and Burger King. Demographics show a population of 20,065 residing within three miles earning $63,251 as the average income. The daily traffic count is 60,000 cars. The asking rent is $17 psf, with CAM of $2.50 psf.

For more information, contact Jeff Robertson at (949-574-4013), Fax (574-0276).

LMS Commercial Real Estate is currently developing Manheim Shopping Center, a 78,742 sq.ft. strip center anchored by CVS and Tru Value Hardware and located at the intersection of Doe Run and Steigel Valley Roads in Manheim, PA. Spaces of 1,000 sq.ft. to 7,000 sq.ft. are available. Other tenants include PLCB and Advance Auto. Demographics include a population of 14,439 residing within three miles earning $52,000 as the average income. The asking rent is $12 psf with CAM estimated at $1.27 psf, and a Fall 2000 opening is slated.

For more information, contact Joseph Deerin at (717-569-9373), Fax (717-560-9909), Email jrdeerin@lms-pma.com, Web site www.lms-pma.com

RJL Real Estate Consultants recently broke ground on ReddRock, a 153,000 sq.ft. strip center anchored by Albertson’s and located at the northeast corner of Redd Road and Interstate 10 in El Paso, TX. Spaces of 1,400 sq.ft. and up, including outparcels of 36,000 sq.ft., 38,000 sq.ft. and 40,000 sq.ft. are available. Demographics show a population of 103,830 residing within five miles earning $61,211 as the average income. The daily traffic count on Redd Rock Road is 17,000+ cars, while the daily traffic count on Interstate 10 is 70,000 cars. Market rent is $13 psf, while the asking rent is $15 psf, with CAM estimated at $1.25 psf and taxes estimated at $1 psf. A November 2000 opening is planned.

For more information, contact Leo Scott or Rick Amstater at (915-587-8310), Fax (587-8311), Email leoscott-rjl@msn.com