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New Construction St. Joe Commercial is developing a 65,000 sq.ft. center located at the intersection of Capitol Circle and Blair Stone Road in Tallahassee, FL. The center, which will be anchored by a 45,000 sq.ft. grocery store, will be a part of SouthWood, a 3,200-acre master-planned community. The company also is developing Watercolor Village, a 34,000 sq.ft. center at the Watercolor residential development of CR 30A in Walton County, FL. The center will be anchored by a grocery store. For more information, contact St. Joe Commercial, 1650 Prudential Drive, duPont Center, Suite 200, Jacksonville, FL 32207; 904-396-6600, Fax 904-858-2420; Web site: www.stjoecommercial.com. RichPenn Resources is developing the second phase of Great Southwest Crossing in Grand Prairie, TX. The center is located at the intersection of Interstate 20 and Great Southwest Parkway. Current tenants include Wal*Mart Supercenter. The second phase of construction is expected to be complete during the Fall. New tenants will include Sam’s Club, PetsMart and Office Depot, as well as an additional 30,000 sq.ft. of shop space and two pads sites. Additional tenants will include a 2,500 sq.ft. AT&T, a 7,000 sq.ft. Dollar Tree and a 5,000 sq.ft. Shoe Show. The Woodmont Co. is responsible for leasing the project.For more information, contact Kevin McIntosh or Jason Cooper, The Woodmont Co., 2100 West Seventh Street, Fort Worth, TX 76107; 817-732-4000, Fax 817-735-4738; Web site: www.woodmont.com. Jay Birnbaum Co. is developing Courtney Commons, a 21,000 sq.ft. strip center located on 3.6 acres at the signalized intersection of Route 31, Courtney Drive and Route 250 in Perinton, NY. Tenants will include M&T Bank and HSBC Bank. Area demographics include a population of 92,222 residing within a five-mile radius earning an average household income of $103,528. The average daily traffic count at the site is 20,970 vehicles. Asking rent is $22 psf with CAM of $1.15 psf and taxes of $4.50 psf. Construction began in March and completion is slated for September. For more information, contact Jay Birnbaum, Jay Birnbaum Co., 2850 Clover Street, Pittsford, NY 14534; 585-381-0696, Fax 585-381-0634; Email: jblandlord@earthlink.net. State Street Associates, LLC is developing State Place, a mixed-use residential and retail complex that is being built at the former Chicago Police Department headquarters in Chicago, IL. The project will include The Shops of State Place, a 65,000 sq.ft. retail center that will be anchored by a 13,000 sq.ft. Walgreens. The center also will include a 25,000 sq.ft. health club, as well as restaurants, sidewalk cafes and coffee shops. The residential portion of the development will include a 24-story residential tower and three four-story residential buildings. Construction began this Spring and completion is slated for the fourth quarter of 2003. Northern Realty Group Ltd. is responsible for leasing State Place. State Street Associates, LLC is a partnership of Mesirow Stein Real Estate Inc., Near North Properties and Northern Realty Group Ltd. For more information, contact State Street Associates, LLC, 1140 South Wabash Avenue, Chicago, IL 60605; 312-957-1177, Fax 312-957-1717; Web site: www.stateplacechicago.com or Northern Realty Group, Ltd., 33 North Dearborn, Suite 1200, Chicago, IL 60602; 312-346-4080. Kojaian Companies is developing two shopping centers on Milford Road in Lyon Township, MI: the 647,000 sq.ft. Lyon Towne Center and the 161,000 sq.ft. Lyon Crossing. The project will begin with the construction of two 10,000 sq.ft. buildings. A 225,000 sq.ft. Wal*Mart is expected to tenant Lyon Towne Center. The entire project is expected to be complete in five years. For more information, contact Kojaian Companies, 39400 Woodward Avenue, #250, Bloomfield Hills, MI 48304-5155; 248-644-7600. Symcox Development Corp. is developing a mixed-use development on South Congress Avenue in Austin, TX. The project will consist of a 375-unit multifamily project and 30,000 sq.ft. of retail space with 425 feet of frontage on Congress Avenue. Construction is expected to being by the end of the year. For more information, contact Jay Symcox, Symcox Development Corp., 609 Castle Ridge Road, Austin, TX 78746-5147; 512-327-9633. Ehlers & Associates, Inc. is managing the redevelopment of a 134-acre site in Brooklyn Park, MN. The redevelopment area, currently includes 500,000 sq.ft. of retail space and 100,000 sq.ft. of office space. The entire site will be demolished and redeveloped as The Village. Plans call for 90,000 sq.ft. of office space and 110,000 sq.ft. of retail space, as well as 300 residential units. Shingle Creek runs through the center of the project. Construction on the residential portion of the project has begun. Retail and office construction is expected to commence by the beginning of 2003 with completion projected for 2004 and 2005. The company is working with the developer of the existing retail space, Kraus Anderson. For more information, contact Stacie Kvilvang, Ehlers & Associates, Inc., 3060 Centre Pointe Drive, Roseville, MN 55113; 651-697-8506, Fax 651-697-8555; Web site: www.ehlers-inc.com. Direct Development is developing The Highlands of Flower Mound, a 350,000 sq.ft. hybrid community center in Flower Mound, TX. The center is 70% preleased and tenants will include a 174,000 sq.ft. Super Target, a 30,000 sq.ft. Linens ‘n Things, a 18,000 sq.ft. World Market, a 12,000 sq.ft. Party City, a 30,000 sq.ft. Ross ‘Dress for Less’ and a 10,000 sq.ft. Pier 1 Imports. Outparcel tenants will include McDonald’s and a bank. Trade area demographics include a population of more than 100,000 earning an average household income of $97,936. Completion is slated for Summer 2003.For more information, contact Direct Development, 8150 North Central Expressway, Suite 1515, Dallas, TX 75206; 214-891-3224, Fax 214-891-3223. |