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New Construction
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New Construction Cedarwood Development, Inc. is developing Phase I of Waterville Commons, a 369,000 sq.ft. center located at the intersection of Interstate 95 and Main Street in Waterville, ME. The center is situated on a land area of 55 acres. The center has spaces available of 10,000 sq.ft. to 60,000 sq.ft. in Phase II, which will also have two additional outlots of 3,000 sq.ft. and 5,500 sq.ft. Opening is slated for Summer 2005. Current anchors include The Home Depot, Staples and Wal*Mart Supercenter. The center is cotenanted by Ruby Tuesday. Area demographics include a population of 49,000 within 10 miles earning $42,000 as the average household income. The site has an average daily traffic count of 30,000 vehicles. Area retail includes The Elm Plaza, JCPenney, Kmart, Hannaford Supermarket and Shaw’s Supermarket. Phase II is situated on a land area of 45 acres and can accommodate another 289,000 sq.ft. of GLA. That phase will become available by Summer 2005. The company also is developing Toledo Commons, a 370,000 sq.ft. center located at the intersection of Glendale Avenue and Oakhill Court in Toledo, OH. The center is situated on a land area of 47 acres and has spaces available of 10,000 sq.ft. to 60,000 sq.ft., as well as outlots of one acre, 1.5 acres and 5,000 sq.ft. to 6,000 sq.ft. Opening is slated for Winter 2004. Anchors include Wal*Mart and Aldi Supermarket. Cotenants include Bob Evans, Tim Horton’s, Ruby Tuesday, Applebee’s, Radio Shack, Deal$, Regis, EB Games, Payless, Dots and Quizno’s. The site has an average daily traffic count of 31,000 vehicles. Area retail includes Southland Shopping Center, Kroger and Sears Hardware. The company also is developing Ashland Commons, a 50,000 sq.ft. center located at the intersection of Armco Road and Winchester Avenue in Ashland, KY. The center is situated on a land area of 6.5 acres and has spaces available of 3,000 sq.ft. to 23,000 sq.ft., as well as outlots of one acre to 2.38 acres. The center is anchored by OfficeMax and is tenanted by Applebee’s. Area demographics include a population of 116,000 within 10 miles earning $44,000 as the average household income. The site has an average daily traffic count of 31,000 vehicles. Area retail includes Ashland Town Center Regional Mall, Wal*Mart, JCPenney, Proffitt’s and Goody’s. For more information, contact David V. Ferron, Cedarwood Development, Inc., 9 Loving Terrace, Palmyra, VA 22963; 434-591-0004, Fax 434-591-0054; Email: dferron@cedarwood.com.
Atlas Partners is preleasing an urban site located at the intersection of State and Walton in Chicago, IL. The site has an average daily traffic count of 163,000 vehicles. The center is anchored by Walgreens. Occupancy will take place during the Spring. Area demographics include a population of 750,219 within five miles earning $73,529 as the average household income. The center has retail space of 9,559 sq.ft. available on the second floor. For more information, contact Gwen Callans, Atlas Partners, 55 East Monroe, Suite 1890, Chicago, IL 60603; 312-516-5700, Fax 312-516-5710.
CB Richard Ellis, Inc. is preleasing The Shoppes of 151st, a center located at the intersection of 151st and Antioch in Overland Park, KS. The center is anchored by Target and has space available of 1,200 sq.ft. Area demographics include a population of 125,651 within two miles. The site has an average daily traffic count of 23,015 vehicles. Construction is slated to begin during April, with completion expected for October. For more information, contact David Hickman, CB Richard Ellis, Inc., 4717 Grand Avenue, Suite 500, Kansas City, MO 64112; 816-968-5824, Fax 816-968-5890.
Kahn Development Co. is developing Patrick Henry Marketplace, a 900,000 sq.ft. center located at the intersection of Jefferson Avenue and Interstate 64 in Newport News, VA. The proposed center would include 14 restaurants and about 30 stores, including a department store and Borders Books. The center would feature landscaping, outdoor dining and decorative sidewalks and lighting. The 375,000 sq.ft. development is somewhat smaller than the nearby shopping center with Target and Circuit City, but is slightly bigger than the Monticello Marketplace located in James City County, VA. For more information, contact Alan B. Kahn, Kahn Development Co., 101 Flint Lake Drive, Columbia, SC 29223; 803-736-3325, Fax 803-788-5923; Email: alankahn@kahndevelopment.com; Web site: www.kahndevelopment.com.
Cormac Development Group is developing Stateline Station, a center located at the intersection of 135th Street and State Line Road in Kansas City, MO. The company is planning to triple the size of the center. The project’s second phase will contain an additional 600,000 sq.ft. of stores. Construction is slated to start during the Spring. No tenants have signed leases for the space and completion will depend on leasing activity. The company has acquired 46 acres for expansion during the past six months. The project’s first phase, containing 350,000 sq.ft., includes a previously announced SuperTarget. Cotenants will include Pier 1 Imports, Cost Plus World Markets, Linens ‘n Things and Shoe Carnival. Also planned is a Bank of America office and several restaurants, including Colton’s Steak House & Grill. The first phase of Stateline Station will be fully occupied during the Spring. For more information, contact Cormac Development Group, 14769 California Street, Omaha, NE 68154; 402-697-5877, Fax 402-964-4677.
Centdev Properties, LLC is developing a center located at the Statesville Road entrance to Smith Corners Retail Center in Cornelius, NC. The anchor will be a 25,000 sq.ft. Northern Tool & Equipment store. There will be an additional 11,500 sq.ft. available for retail and/or restaurant space. The company has planned construction to begin this month, with completion slated for June 2004. For more information, contact Dale Tweedy, Centdev Properties, LLC, 16930 West Catawba Avenue, Suite 206, Cornelius, NC 28031; Email: dtweedy@centdev.com;Web site: www.centdev.com.
Tioga Town Center, Inc. is preleasing Tioga Town Center, a 250,000 sq. ft. mixed-use center located on Newberry Road, also known as State Route 26, five miles west of Interstate 75 in Gainesville, FL. The site plan calls for the construction of a two-story pedestrian-oriented main street style town center. The center will have spaces available ranging from 900 sq.ft. to 16,000 sq.ft. Opening is slated for Winter 2004. For more information, contact Grace Lambert, Tioga Town Center, Inc., 13151 Newberry Road, Tioga, FL 32669; 352-331-4000, Fax 352-331-4201; Website: www.tiogatowncenter.com.
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