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New Construction
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New ConstructionTarragon Retail Investors broke ground on The Container Store Plaza in Paramus, NJ. The site is located at the intersection of Route 17 and Powers Drive and has a 3,943 sq.ft. space available. Area demographics include a population count of 117,012 residing in a five-mile radius earning $93,110 as an average household income. Route 17 has an average daily traffic count of 136,600 cars. For more information contact, Matt Bloom, Retail Realty LLC, 201-592-0900; Fax 201-592-1229.
Location Retail, Inc. has broken ground on a 45,000 sq.ft. strip center in Manchester, CT. The four-acre site is just off Interstate 84 and has signaled intersections at either end of the development. The location has an average daily traffic count of 40,000 cars and a population count of 108,215 residing in a five-mile radius earning an average household income of $62,044. The company is also developing a grocery-pharmacy center in Durham, CT. The site is located at the intersection of Routes 17 and 147 and has an average daily traffic count of 22,000 cars. Phase one includes a 11,000 sq.ft. pharmacy building with a drive thru and a 13,000 sq.ft. multi-unit retail space. Phase two has 55,000 sq.ft. space for a grocery tenant. For more information contact Location Realty, 921 Saybrook Road, Middletown, CT 06457; 860-344-0001; Fax 860-346-4433.
Morris Management will break ground on The North Atherton Shoppes at State College in State College, PA. The 66,897 sq.ft. center will be anchored by a 29,908 sq.ft. Best Buy and will be located on North Atherton Street and an extension of Martin Street. Completion is expected for Fall 2002. Area demographics include an average daily traffic count of 50,000 cars on North Atherton Street and a population count of 69,067 residing in a five-mile radius earning $52,017 as an average household income. The company will also break ground in spring 2001 on the Logan Towne Center in Altoona, PA. The plans include two anchor spaces of over 135,000 sq.ft., 10 junior anchor spots of approximately 30,000 sq.ft. and five outlot buildings. There is also a 55,000 sq.ft. grocery anchor planned. Area demographics include a population count of 57,651 in a five-mile radius earning an average household income of $35,424. The center will share an exit off Interstate 99 with the new baseball stadium of the Altoona Curve, Lakemont Amusement Park, a new ice skating rink and the new convention center. For more information contact Morris Management, 210 East Plank Road, Altoona, PA 16602; 814-944-9195, Fax 814-944-9811.
Diversified Developers Realty Corporation and Hamilton Partners, Inc. are developing the Town Center Shoppes in Kildeer, IL. The 200,000 sq.ft. power center is scheduled to open in 2002 and shares a trade area with Deer Park Town Center. Four anchor spots ranging from 25,000 sq.ft. to 45,000 sq.ft. and five smaller storefronts (3,626 sq.ft. to 4,400 sq.ft.) are available. Area demographics include a population count of 175,000 residing in a five-mile radius earning an average annual household income of $124,000. For more information contact Developers Diversified Realty, 3300 Enterprise Parkway, Beachwood, OH 44122; 216-755-5500; Fax 216-755-1500; Website: www.ddrc.com. Cambridge Properties, Inc. is developing the 79,772 sq.ft. Olive Chapel Village Center in Apex, NC. The center located at the intersection of Route 55 and Olive Chapel Road will be anchored by a 49,672 sq.ft. Lowes Food scheduled to open in October. There is 20,000 sq.ft. of space available in the center. Area demographics include a population count of 65,321 residing in a five-mile radius earning an average annual income of $86,712. The company has also broken ground on a Home Depot site at the intersection of Routes 64 and 55. For more information contact George L. Maloomian, Cambridge Properties, Inc., 704-333-2393; Fax 704-333-2394.
Paramount Realty Services, Inc. will break ground on an extension to its Town Hall Shoppes in Brick, NJ. The 50,000 sq.ft. mixed-use extension will include a 10,000 sq.ft. Tutor Time, a 4,000 sq.ft. pad site and 15,000 sq.ft. of new retail space. The extension accompanies a traffic pattern change at exit 89 of the Garden State Parkway. For more information contact Paramount Realty Services, Inc., 1195 Route 70, Suite 2000, Lakewood, NJ 08701; 732-886-1500; Fax 732-886-1690.
Developers’ Realty, Inc. will break ground on a strip center located at Route 944 and East Penn Drive in East Pennsboro Township, PA. The 5.29-acre site has an average daily traffic count of 13,200 cars. The company is also developing a 187,000 sq.ft. power center located on Route 11 in Harrisburg, PA with an average daily traffic count of 35,788 cars. A population of 87,920 resides in a five-mile radius earning $64,622 as an average annual household income. Developers’ Realty is also developing a 60,000 sq.ft. big box with a 6,000 sq.ft. restaurant pad at the junction of old and new Route 11 and 15 bypasses. The Ground Round restaurant on the property will remain. Area demographics include a population count of 162,094 residing in a five-mile radius earning an average annual household income of $53,629. The company will also break ground on a 275,000 sq.ft. center at Route 6 and Baker Street in Cortlandt, NY. The center is located directly across from the Westchester Mall and area demographics include a population count of 82,636 residing in a five-mile radius earning an average annual household income of $80,538. For more information on the Pennsboro Township property contact Peter Gemora, NAI Commercial Realty Company, 717-761-5070 ext. 126, Fax 717-975-9835. Or contact Developers’ Realty, Inc., P.O. Box 17335, West Hartford, CT 06137; 860-233-6221; Fax 860-232-2227. |