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New Construction
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New Construction Network Real Estate Group, Ltd. is preleasing a 7,235 sq.ft. center located at the intersection of 110th and Harlem Avenue in Worth, IL with an average daily traffic count of 40,000 vehicles. The center has spaces available of 1,000 sq.ft. and up. Opening is slated for July 2004. Area demographics include a population of 267,742 within five miles earning $58,142 as the average household income. Market and asking rent is $17 psf to $20 psf with CAM of $2 psf and taxes of $3 psf. The site is near a commuter station. The company also is preleasing a 12,960 sq.ft. center located at the intersection of 59th and Ashland Avenue with an average daily traffic count of 57,000 vehicles. Opening is slated for the third quarter of 2004. The center is anchored by CVS, which is on an outlot. Area demographics include a population of 960,542 within five miles earning $34,043 as the average household income. Asking rent is $22 psf with CAM of $2 psf and taxes of $3 psf. For more information, contact Tammy Dertz, Network Real Estate Group, Ltd., 9031 West 151st Street, Suite 203, Orland Park, IL 60462; 708-873-5540, Fax 708-873-0157; Web site: www.networkregroup.com.
Ronus Properties is preleasing Meyerland Plaza, a 926,908 sq.ft. center located at the intersection of Interstate 610 South and Beachnut Road in Houston, TX with an average daily traffic count of 181,000 vehicles. The center is anchored by Bed Bath & Beyond, Palais Royal, Ross Dress For Less, Old Navy, JCPenney, Stein Mart, 24 Hour Fitness, OfficeMax and Marshall’s. Opening is slated for November 2004. Phase II expansion is slated to take place during 2004. Area demographics include a population of 1,423,897 within 10 miles earning $65,086 as the average household income. For more information, contact Jackie Wommock, Ronus Properties, 3290 Northside Parkway, Suite 250, Atlanta, GA 30327; 678-553-4040, Fax 678-553-4001.
Retail Centers Southeast, Ltd. is developing a center located at the intersection of U.S. 27 and the U.S. 84 By-Pass in Bainbridge, GA. The center will be anchored by several big-box retailers, with outparcels available for restaurants and freestanding sites. Over 100,000 sq.ft. of shop space is planned in addition to the freestanding anchor store of approximately 110,000 sq.ft. The site has an average daily traffic count of 25,377 vehicles. For more information, contact W. Michael Caldwell, Retail Centers Southeast, Ltd., 3850 Holcomb Bridge Road, Building 200, Suite 240, Norcross, GA 30092; 770-447-8847, Fax 770-409-8085.
Echo Real Estate Services is developing a 29,000 sq.ft. center in Burrell Township, PA. The center will be tenanted by Rite Aid, Dollar Wave and Movie Gallery. The smaller shops are expected to open during Spring 2004. The company also is planning to develop a 107,000 sq.ft. Wal*Mart Supercenter next to the center. For more information, contact Echo Real Estate Services, 701 Alpha Drive, Pittsburgh, PA 15238-2820; 412-967-4845.
Wellington Development and Fidelis Realty Partners are proposing to develop retail sites at the intersection of FM 529 and Fry Road in Houston, TX. Eastbourne Investments acquired 16 acres in the far west submarket of Houston, as well as another 26 acres nearby. Eastbourne is working in partnership with Fidelis Realty Partners and Wellington Development. The site could hold up to 450,000 sq.ft. For more information, contact Wellington Development, 3650 Reed Road, Columbus, OH 43220; 614-457-7883, Fax 614-442-3286; Web site: www.wellington.org.
Centdev Properties, LLC is developing Ashby Commons, a center located at the intersection of Highway 421 and Highway 87 in Sanford, NC. The center is situated on a land area of 80 acres and can accommodate 400,000 sq.ft. of retail space. The site also allows for several outparcels in the 1.2-acre to two-acre range with frontage on Highway 421. Opening is slated for 2005. For more information, contact Dale Tweedy, Centdev Properties, LLC, 16930 West Catawba Avenue, Suite 206, Cornelius, NC 28031; 704-895-1535 Ext. 17; Email: dtweedy@centdev.com; Web site: www.centdev.com.
Poag & McEwen is planning to develop The Shops at Centerra, a 700,000 sq.ft. center located at the interchange of U.S. Highway 34 and Interstate 25 in Loveland, CO. The company recently signed leases with Foley’s department store, Galyan’s Trading Co., Barnes & Noble, P.F. Chang’s China Bistro and Biaggi’s Ristorante Italiano. For more information, contact Poag & McEwen, 6410 Poplar Avenue, Suite 850, Memphis, TN 38119; 901-761-7604, Fax 901-761-5325; Web site: www.pm-lifestyle.com.
Wolford Development, Inc. is proposing to develop a 700,000 sq.ft. mall on a parcel of land at the intersection of 13th Street and Interstate 35 in northeast Ames, TN. For more information, contact James Wolford, Wolford Development, Inc., 1200 Mountain Creek Road, Four Squares Business Center, Suite 102, Chattanooga, TN 37405; 423-874-0811.
HSM Pacific Realty is preleasing Hazel Dell Towne Center, a 425,000 sq.ft. center located between 88th and 94th Streets, west on Interstate 5 in Clark County, WA. The center will be situated on a land area of 42 acres and will be anchored by a 123,735 sq.ft. Target. The center also will include 25,000 sq.ft. of office space, while Boston The Gourmet Pizza is planning to build a restaurant/sports bar in the project. Also planned in the development are a fitness chain, a pet supply store, a craft and party supply store and a supermarket. For more information, contact HSM Pacific Realty, 0612 SW Idaho Street, Suite 2, Portland, OR 97208; 503-245-1400.
Forest City Ratner Cos. is developing Quartermaster Plaza, a 540,000 sq.ft. center located at the intersection of 23rd and Oregon in Philadelphia, PA. Opening is slated for Spring 2004. The center, which will be anchored by Home Depot and BJ’s Wholesale Club, currently has 90,000 sq.ft. of space available. Cotenants will include PetsMart, Staples, A.J. Wright, Old Country Buffet, Fleet Bank, Walgreen’s, Children’s Place and Wendy’s. The space was formerly a U.S. Army manufacturing facility. For more information, contact Rockie Gajwani, Forest City Ratner Cos., 1 Metrotech Center, Brooklyn, NY 11201; 718-923-8434; Email: rgajwani@fcrc.com.
Centurion Partners, LLC is developing a center at exit 60 on Interstate 85 in Concord/Kannapolis, NC. The site is anchored by Wal*Mart Supercenter, Sam’s Club and Kohl’s. Area demographics include a population of 73,000 within five miles earning $49,000 as the average household income. For more information, contact Jim Livesey, Centurion Partners, LLC, 16930 West Catawba Avenue, Suite 205, Cornelius, NC 28031; 704-895-2120, Fax 704-895-2123.
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