New Construction
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New Construction

Colliers Arnold Commercial Real Estate Services, Inc. is planning more than $6 million in improvements at Drew-19 Shopping Center located at the intersection of U.S. 19 and Drew Street in Clearwater, FL. The center currently is anchored by a 56,600 sq.ft. Rooms to Go and a 50,000 sq.ft. Best Buy. The improvements include the addition of 193,000 sq.ft. of retail space. New anchor tenants will include Marshalls and Babies "R" Us.

For more information, contact Colliers Arnold Commercial Real Estate Services, Inc., 17757 U.S. 19 North, Suite 275, Clearwater, FL 33764; 727-442-7184, Fax 727-449-2428; Web site: www.colliersarnold.com.

Cedarwood Development, Inc. is developing Bangor Commons, a 156,265 sq.ft. power center located on 29 acres at the intersection of Interstate 95 and Hagen and Haskell Roads in Bangor, ME. Area demographics include a population of 84,000 within a 10 miles earning an average household income of $47,000. The average daily traffic count of Interstate 95 at the site is 28,000 vehicles. Hogan Road has an average daily traffic count at the site of 24,000 vehicles. Neighboring retailers include Sam’s Club, Home Depot, Burlington Coat Factory, Staples, Borders, Wal*Mart, Best Buy, Shaws, Shop N’ Save, Jo Ann Stores, Toys "R" Us and Bed Bath & Beyond. Two outlots of one acre to two acres are available. Construction began this Spring and completion is slated for Spring 2004. The company also is developing Airport-Davis Plaza, an 80,000 sq.ft. power center located on 11 acres at the signalized intersection of North Davis Highway and Airport Boulevard in Pensacola, FL. Spaces from 10,000 sq.ft. to 50,000 sq.ft. are available, as well as a 1.1-acre outlot. Area demographics include a population of 271,000 within 10 miles earning an average household income of $50,000. North Davis Highway has an average daily traffic count at the site of 41,000 vehicles and Airport Boulevard has an average daily traffic count at the site of 19,000 vehicles. Neighboring retailers include Wal*Mart, Lowe’s, Kmart, T.J. Maxx, Steinmart, Home Depot, Barnes & Noble, Linens ‘n Things, Sports Authority, Sam’s Club and Circuit City. Construction is slated to begin this Fall with completion expected by next Spring.

For more information, contact David V. Ferron Sr., Cedarwood Development, Inc., 1765 Merriman Road, Akron, OH 44313; 330-836-9971, Fax 330-864-8094; Email: dferron@cedarwood.com; Web site: www.cedarwooddevelopment.com.

Commerce Realty and Management Co. is leasing Terrazzo, a 54,000 sq.ft. center under development in Grand Rapids, MI that will feature 12 shops, as well as dining and services. The center will be located at the intersection of Interstate 96 and East Paris Avenue. The center will be anchored by a gourmet-grocery concept developed and operated by D&W Food Centers, Inc., and a specialty-clothing concept featuring designer fashion, contemporary apparel and accessories. Other tenants will include a jeweler, a home furnishings store and a restaurant. In addition, the center will feature valet parking, heated sidewalks and a landscaped public terrace. Construction began last month and completion is slated for Spring 2003.

For more information, contact Commerce Realty and Management Co., Five Lyon Street Northwest, Grand Rapids, MI 49503; 616-454-7700, Fax 616-454-1363; Web site: www.commercerealty.net.

Altamonte Springs Investments, LLC is developing and leasing retail space at Altamonte Town Center, in Alamonte Springs, FL. Plans for the center include a 3,500-seat stadium-style theater, as well as restaurant and retail establishments. The project also will consist of hotel, office and residential components. The street-oriented retail and entertainment destination will feature sidewalk cafes, fountains, Spanish steps and a public plaza on the shores of Cranes Roost Lake. Principals of Altamonte Springs Investments, LLC are The Vlass Group, Jacoby Development and Martin, Mantle and Bignon. In addition, The Staubach Co. will have a strong presence in the project and plans to locate its central FL retail office at the town center site.

For more information, contact Dawn St. Clair, City of Altamonte Springs, 385 CenterPoint Circle, Suite 1325, Altamonte Springs, FL 32701; 407-571-8176.

Alsation Land Co. is developing The Shops at Summit Pointe, a 200,000 sq.ft. shopping center in Lee’s Summit, MO. The center is located on a 21-acre site on the southeast corner of Interstate 470 and Highway 350/50. The project will feature anchor spaces of up to 60,000 sq.ft., inline spaces and four restaurant and retail pad sites. Construction is expected to begin during the Fall with completion slated for the third quarter of 2003. Grubb & Ellis|The Winbury Group is responsible for leasing the project.

For more information, contact Steve Gasperi or Scott Jerwick, Grubb & Ellis|The Winbury Group, 4520 Main Street, Suite 1000, Kansas City, MO 64111; 816-531-5303; Email: info@winbury.com, sgasperi@winbury.com, sjerwick@winbury.com; Web site: www.winbury.com.

Lee & Associates is developing The Crossroads, a 191,000 sq.ft. power center located on Las Vegas Boulevard South in Las Vegas, NV. The center will be anchored by Fry’s Electronic Superstore. Area demographics include a population of 56,000 within three miles earning an average household income of $67,000. The average daily traffic count at the site is 100,000 vehicles. Spaces of 3,750 sq.ft., 3,900 sq.ft., 5,200 sq.ft. and 12,000 sq.ft. are available. Construction will begin in July and completion is slated for next January.

For more information, contact David Howes, Lee & Associates, 2700 West Sahara Avenue, Third Floor, Las Vegas, NV 89102; 702-739-6222, Fax 702-369-9012.

Azarian Management & Development Co. is developing the second and final phase of Hyde Park Mall in Dutchess County, NY. The Hyde Park Mall is 130,000 sq.ft. and tenanted by Ames, Progressive Insurance Claims Office, Radio Shack, Beauty School, Dollar Store, Credit Union and Hallmark Gold Crown Store. Renovation of space formerly occupied by Shop Rite is underway. About 33,000 sq.ft. is available in units ranging from 500 sq.ft. to 5,900 sq.ft.

For more information, contact John M. Azarian, Azarian Management & Development Co., The Azarian building, Six Prospect Street, Midland Park, NJ 07432; 201-444-7111, Fax 201-444-6655; Email: azariangrp@aol.com.