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New Construction
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New Construction The Staubach Co. is preleasing a 500,000 sq.ft. center that will be located along Montfort Drive in Dallas, TX. The center will be anchored by a Wal*Mart Supercenter and will have 14 acres of pad/parcel sites situated on a land area of approximately 61 acres at the former Prestonwood Town Center, which will be demolished. For more information, contact The Staubach Co., 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 800-944-0012; Web site: www.staubach.com.
Kimco Developers, Inc. is developing and Iaboni Real Estate is preleasing Sorenson Parkway Plaza, a 700,000 sq.ft. center located at the intersection of 72nd and Sorenson Parkway in Omaha, NE. The center will be situated on a land area of 79 acres and will include new construction of 1,000 sq.ft. up to 150,000 sq.ft. Opening is slated for Fall 2005 and the project will include 11 outlots available. The center is anchored by Target and is tenanted by Linens ‘n Things, OfficeMax and Pier 1 Imports. Area demographics include a population of 188,773 within five miles earning $60,535 as the average household income. Area retail includes Home Depot, Shopko, Albertstons and Gordman’s. Market and asking rents range from $9 psf to $15 psf with CAM of $0.85 psf and taxes of $2.25 psf. For more information, contact Deborah Iaboni, Iaboni Real Estate, 1111 Burlington Avenue, Suite 113, Lisle, IL 60532; 847-998-8535, Fax 847-998-8606; Email: deborah@iabonirealestate.com; Web site: www.kimcorealty.com.
Mid-America Asset Management, Inc. is preleasing The Brickyard, a 573,000 sq.ft. open-air retail revitalization project located at the intersection of Diversey Parkway and Narragansett in Chicago, IL. The project involves the demolition of nearly one million square feet of a fully-enclosed urban mall and redeveloping it into a community center. The center is currently 90% preleased and will be anchored by a 64,565 sq.ft. center Jewel-Osco. Phase I consists of approximately 180,000 sq.ft. of space, 116,000 sq.ft. of which will be devoted to specialty retailers. Phase II completion is slated to open during October and will include a total of 11 freestanding buildings. Included will be a 143,100 sq.ft. Target, a 143,700 sq.ft. Lowe’s Home Improvement, a 20,015 sq.ft. OfficeMax, a 30,000 sq.ft. Marshalls, a 10,800 sq.ft. Pier 1 Imports, a 10,000 sq.ft. Dress Barn, as well as a McDonald’s and Fifth Third Bank. For more information, contact Mid-America Asset Management, Inc., Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181-4713; 630-954-7300, Fax 630-954-7304/7306; Web site: www.midamericagrp.com.
Retail Brokers, Inc. is developing a center located at the intersection of Higley and McKellips in Mesa, AZ with an average daily traffic count of 40,000 vehicles. The 10,500 sq.ft. center will have spaces available from 1,200 sq.ft. to 8,000 sq.ft., as well as 2,500 sq.ft. with a drive-thru. Area retail includes Kohl’s and Wal*Mart. Area demographics include a population of 195,693 within five miles earning $60,054 as the average household income. For more information, contact Paul Honeycutt or Dawn Chism, Retail Brokers, Inc., 8111 East Indian Bend Road, Scottsdale, AZ 85250; 480-894-6363/480-365-1228/480-365-1205, Fax 480-894-6863; Emails: paulhoneycutt@rbiaz.com and dawnchism@rbiaz.com; Web site: www.rbiaz.com.
Colliers-Seeley is preleasing Village Walk Murrieta, a 300,000 sq.ft. center located at the intersection of Interstate 15 and Kalmia Street in Murrieta, CA. Opening is slated for Summer 2005. Area retail includes Kohl’s and Lowe’s Home Improvement. Area demographics include a population of 86,468 within five miles earning $65,482 as the average household income. The site has an average daily traffic count of 120,000 vehicles. For more information, contact Cameron Crowner or William M. Bauman, Colliers-Seeley, 444 South Flower Street, Suite 220, Los Angeles, CA 90071; 949-474-0707 or 213-627-1214, Fax 213-627-2700; Emails: ccrowner@colliers-seeley.com and bbauman@colliers-seeley.com; Web site: www.colliers-seeley.com.
The Corky McMillin Co. is developing two retail buildings in the Quarry Creek Retail Center totaling 16,197 sq.ft. The center is located south of Highway 78 at College Boulevard in Oceanside, CA. The two buildings are part of a larger 35.5-acre retail project that will include Wal*Mart, Albertsons, Kohl’s, PetsMart and Wells Fargo. Opening is slated for the Spring. For more information, contact The Corky McMillin Co., 2727 Hoover Avenue, National City, CA 91950; 619-477-4117, Fax 619-336-3119; Web site: www.mcmillin.com.
Casto Southeast is preleasing Lakeside Village, a 500,000 sq.ft. mixed-use project located at the intersection of Harden Road and Frontage in Lakeland, FL. Opening is slated for September 2005. The center is tenanted by Cobb Cinema and a 66,000 sq.ft. Belk and has space of 176,000 sq.ft. available, as well as an outlot of 1.5 acres. Asking rent is $25 psf with CAM of $2.50 psf and taxes of $1.25 psf. For more information, contact Barbara Carnes, Casto Southeast, 401 North Cattleman Road, Suite 108, Sarasota, FL 34232; 941-552-2700, Fax 941-925-9562; Email: bcarnes@castosoutheast.com; Web site: www.castosoutheast.com.
Trademark Property Co. is developing Gateway Station, a 355,000 sq.ft. center located at the intersection of Interstate 35 and McAlister in Fort Worth, TX. Opening is slated for Spring 2005. The center is anchored by Kohl’s, Ross, Linens ‘n Things, Staples, Michaels, PetsMart and Borders and is tenanted by Famous Footwear, Pier 1 Imports, Logan’s Roadhouse, Dress Barn, Olive Garden, Red Lobster, Applebee’s, Chick-fil-A, Cotton Patch, Bombay, Mattress Giant, Catherine’s, Vision City, Zales, H&R Block, AT&T, Ziggy’s, Mothers Work, Coldstone Creamery, Mail Boxes Etc., Subway, EB Games, Luxury Nails and Smoothie King. The center has spaces available of 2,734 sq.ft.; 6,693 sq.ft. and 9,850 sq.ft. and is situated on a land area of 45 acres. Asking rent is $21 psf with CAM of $1.50 psf and taxes of $2.50 psf. The site has an average daily traffic count of 95,000 vehicles. Area demographics include a population of 129,300 within seven miles earning $54,519 as the average household income. For more information, contact Fremon Baker, Trademark Property Co., 301 Commerce Street, Suite 3635, Fort Worth, TX 76102; 817-810-5323, Fax 817-810-5399; Email: fbaker@trademarkdealmakers.net; Web site: www.trademarkdealmakers.net.
Edens & Avant is planning to develop a $30 million expansion of the 440,000 sq.ft. South Bay Shopping Center located in Boston, MA. The company would demolish existing empty warehouse buildings on the site, including a 135,120 sq.ft. building along Massachusetts Avenue. Once completed, the South Bay Center will comprise approximately 540,000 sq.ft. of GLA and include a 75,000 sq.ft. Stop & Shop, along with a variety of other new retailers. For more information, contact Edens & Avant, 900 Bank of America Plaza, 1901 Main Street, Columbia, SC 29201; 803-779-4420, Fax 803-765-0684; Web site: www.edensandavant.com.
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