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New Construction
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New ConstructionLaurich Properties recently completed construction on the first phase of Silverado Ranch Centre, a 200,000 sq.ft. shopping center located at the intersection of Maryland Parkway and Silverado Ranch Road in Las Vegas, NV. The center will be anchored by a 60,000 sq.ft. Albertson’s, with other tenants including a 5,000 sq.ft. Blockbuster and a 15,000 sq.ft. Sav-On Drug. In addition, the center will introduce the first Albertson’s Express Fuel Center to the Las Vegas Valley region. The company is currently in negotiations with several potential tenants for the second phase of the project. For more information, contact Hank Gordon at (702-220-4500), Fax (220-4900).
Plaza Properties is planning to develop Lincoln Plaza a 578,000 sq.ft. project located on Lincoln Street in Worcester, MA. Construction on the project will commence after the demolition of the existing Lincoln Plaza, and the project is subject to pending leases for completion. For more information, contact (508-754-3255).
Transmark Company plans to break ground on Midvale Park Plaza, a Walgreens-anchored shopping center on 1.02 acres located at the intersection of Valencia Road and Midvale Park Road in Tucson, AZ during December 2000. A 6,500 sq.ft. freestanding facility directly across from a Super Wal*Mart is available for lease. Other tenants include Golden Corral, Arby’s, Denny’s and Wendy’s. Demographics show a population of 63,000 residing within three miles earning $40,000 as the average income. Super Kmart and ABCO operate nearby. The asking rent is $20 psf plus triple net lease expenses. For more information, contact Adam Karon at (520-322-6246), Fax (322-6267), Email transmark1@aol.com
Willner Realty and Development Co. is developing The Point, a 124,883 sq.ft. specialty strip center on 16.5 acres anchored by Benihana and Hoyt’s Cinema and located at the intersection of Routes 70 and 38 in Upper Darby, PA. Spaces of 3,000 sq.ft to 25,000 sq.ft. are available. Demographics include a population of 424,000 residing with five miles earning $36,000 as the average income. The daily traffic count is 56,000+ cars on Route 70 and 59,000+ cars on Route 38. For more information, contact Benjamin Willner at (610-352-1300), Fax (352-6143).
Northland Commercial Inc. is developing an 8,312 sq.ft. freestanding facility on one acre located at the intersection of Union and Ringwood Avenues in Wayne, NJ. A space of 8,321 sq.ft. is available. Demographics include a population of 95,093 residing within five miles earning $101,000 as the average income. The daily traffic count is 30,000 cars, and the site contains 48 parking spaces. Super A&P and Adams operate nearby. The asking rent is $20 psf. For more information, contact Frank LaSala at (973-696-1500), Fax (696-1428), Email fjlrealty@aol.com.
Centrefund Development Group recently completed Phase I of Cashmere Corners, a 98,278 sq.ft. strip center located at the intersection of St. Lucie West Boulevard and Southwest Cashmere Boulevard in Port St. Lucie, FL. A 9,000 sq.ft. space in Phase II, which is scheduled for completion next month, is available. The center is anchored by Albertson’s. Demographics include a population 153,000 residing within 10 miles earning $39,000 as the average income. The daily traffic count is 24,000 cars on St. Lucie West Boulevard and 26,000 cars on Southwest Cashmere Boulevard. Kmart and Publix operate nearby, as does St. Lucie Square. The market rent is $17 psf to $20 psf, while the asking rent is $18 psf with CAM of $2.75 and taxes of $2.50. For more information, contact Tom Hamilton at (561-624-9500), Fax (624-9507), Email cmsidml@bellsouth.net.
Reliable Properties is currently developing La Cienega & Holloway Center, a project located on 37,072 sq.ft. at the southeast corner of La Cienega and Holloway in West Hollywood, CA. A space of 1,200 sq.ft. is available at the center, which is anchored by Sav-On Drug. An October 2000 opening is slated. Demographics show a population of 239,000 residing within three miles earning an average income of $42,000. The daily traffic count is 90,000 cars. For more information, contact Shawn Nourafshan at (323-653-3777), Fax (651-4011), Email relprop@pacbell.net
G. Heller Enterprises is developing Veterans Square, a 14-acre shopping center anchored by a 69,000 sq.ft. Shop Rite and located on New York Avenue in Lyndenhurst, NJ. Frank’s Nursery and Crafts, Hollywood Video and General Nutrition Center have also signed leases at the center. Several other retailers are currently in negotiations. Discussions are also nearing completion to erect a 450-car parking lot to serve a New Jersey Transit train station being built behind the center. For more information, contact (201-945-9555).
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