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New Construction
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New Construction Kite Development is developing the final phase of Silver Glen Crossing, a 150,000 sq.ft. center located on Randall Road in South Elgin, IL. Area demographics include a population of 393,532 within 10 miles earning $92,709 as the average household income. The company also is developing Tarpon Springs Plaza, a 275,000 sq.ft. center located at the intersection of Interstate 75 and Immokalee Road in Naples, FL. Area demographics include a population of 230,249 within 10 miles earning $87,045 as the average household income. For more information, contact Gregg Poetz, Kite Development, 30 South Meridian Street, Suite 1100, Indianapolis, IN 46204; 317-578-5153; Email: gpoetz@kiteco.com.
S.L. Nusbaum Realty Co. is preleasing WindsorMeade Marketplace, a 200,000 sq.ft. center located at the intersection of Monticello Avenue and Route 109 in James City County, VA. Opening is slated for Fall 2005. The center will be anchored by a 73,860 sq.ft. Belk department store, a 23,000 sq.ft. Bed Bath & Beyond, a 21,254 sq.ft. PetsMart, a 19,975 sq.ft. Office Depot and Pier 1 Imports. Area retail includes Monticello Marketplace and Marketplace Shoppes. For more information, contact Stephan Gordon, S.L. Nusbaum Realty Co., 1000 Bank of America Center, One Commercial Place, Norfolk, VA 23510; 757-640-2244; Web site: www.slnusbaum.com.
W.M. Grace Development Co. is developing Red Mountain Plaza, a 215,000 sq.ft. center located at the intersection of Power and McKellips Roads in Mesa, AZ with an average daily traffic count of 71,000 vehicles. The center is currently tenanted by Home Depot, Michael’s Arts & Crafts, PetsMart, Chili’s, McDonald’s and Taco Bell. Area demographics include a population of 65,000 within three miles earning $55,500 as the average household income. The company also is developing Bashas’ Plaza, a 180,000 sq.ft. center located at the intersection of Power and Chandler Heights Road in Queen Creek, AZ with an average daily traffic count of 24,000 vehicles. Area demographics include a population of 20,000 within three miles earning $63,000 as the average household income. The company also is developing a 435,000 sq.ft. center located at the intersection of Interstate 10 and Dysart Road in Avondale, AZ with an average daily traffic count of 112,000 vehicles. Area demographics include a population of 115,000 within five miles earning $45,000 as the average household income. For more information, contact W.M. Grace Development Co., 7575 North 16th Street, Suite 1, Phoenix, AZ 85020; 602-956-8254, Fax 602-943-3548; Email: wmgraceco@msn.com.
NAI Isaac Commercial Properties is preleasing The Forum Shops, a 17,800 sq.ft. center located at the intersection of Interstate 75 and U.S. 62 in Georgetown, KY. The center is situated on a land area of 1.84 acres and is slated to open during February. The site has an average daily traffic count of 41,450 vehicles. Asking rent is $17 psf with NNN of $2.80 psf. Area retail includes Lowe’s Home Improvement, Wal*Mart, O’Charley’s and McDonald’s. Area demographics include a population of 25,306 within five miles earning $47,452 as the average household income. For more information, contact Chad Voelkert, NAI Isaac Commercial Properties, 771 Corporate Drive, Suite 300, Lexington, KY 40503; 859-224-2000, Fax 859-224-0848; Email: cvoelkert@naiisaac.com; Web site: www.naiisaac.com.
First Washington Realty, Inc. is preleasing Stefko Boulevard Shopping Center, a 135,389 sq.ft. center located at the intersection of Stefko Boulevard and Irene Street in Bethlehem, PA. The center will be anchored by a 73,000 sq.ft. Valley Farm Market, a 9,000 sq.ft. Aaron’s Rents and a 7,800 sq.ft. Dollar Express. Area demographics include a population of 143,005 within five miles earning $60,287 as the average household income. The company also is preleasing Kenhorst Plaza, a 161,424 sq.ft. center located at the intersection of Philadelphia Avenue and New Holland Road in Reading, PA. The center is anchored by Redner’s Supermarket, Sears Paint & Hardware, Fashion Bug and Rite Aid. Area demographics include a population of 172,047 within five miles earning $54,831 as the average household income. For more information, contact Barry S. Borsky, First Washington Realty, Inc., 3544 West Chester Pike, Suite 222, Newtown Square, PA 19073; 610-325-5770, Fax 610-325-5780; Web site: www.firstwash.com.
MacFarlane Partners formed a joint venture with Urban Partners, LLC to develop and own Wilshire Vermont Station, a mixed-use “transit village” in the Koreatown district of Los Angeles, CA. The project will be built above an existing Metro Red Line underground rail station at the intersection of Wilshire Boulevard and Vermont Avenue. Wilshire Vermont Station will feature a “village” concept that consists of two connected seven-story buildings with a total of 449 luxury apartment units; 35,000 sq.ft. of ground-floor retail space and a 660-vehicle, underground parking garage. Opening is slated for July 2006. For more information, contact MacFarlane Partners, 201 Spear Street, 14th Floor, San Francisco, CA 94103; 415-356-2300, Fax 415-356-2599; Web site: www.macfarlanepartners.com.
The Widewaters Group is developing a center located on NYS Route 9 in Hudson, NY with an average daily traffic count of 16,000 vehicles. Area retail includes Wal*Mart, Price Chopper, Staples, ShopRite and Dollar Tree. Area demographics include a population of 56,707 within 10 miles earning $47,792 as the average household income. The company also is developing a center located at the intersection of Pennsylvania Route 208 and Interstate 79 in Grove City, PA. There is potential for a development of 350,000 sq.ft. The site is adjacent to Grove City Outlet Mall, a one million sq.ft. center. Area demographics include a population of 22,375 within seven miles earning $41,435 as the average household income. For more information, contact Jim Lavelle, The Widewaters Group, 5786 Widewaters Parkway, PO Box 0003, DeWitt, NY 13214; 315-445-8613, Fax 315-445-8570; Email: jlavelle@widewaters.com.
Tri-State Commercial, Inc. is preleasing Canal Crossing Plaza, a 22,560 sq.ft. center located at the intersection of Main Street and Washington Street in South Bound Brook, NJ. The center will include 17 apartments above the retail section. Opening is slated for Fall 2005. For more information, contact Darrin Hiban or Greg Sobol, Tri-State Commercial, Inc., 103 Godwin Avenue, Suite 193, Midland Park, NJ 07432; 201-405-1110 or 732-566-8211, Fax 201-405-1071.
The Brunetti Organization is developing The Oaks at Glenwood, a 100-acre retail/commercial center within a 2,400-acre planned development in Old Bridge, NJ. Phase I will include 480,825 sq.ft. of space, while Phase II will include over one million sq.ft. The site has an average daily traffic count of 55,240 vehicles. Area demographics include a population of 12 million within 30 miles earning $57,313 as the average household income. The Schultz Organization is preleasing the project. For more information, contact John J. Brunetti, The Brunetti Organization, 1655 U.S. Route 9, Old Bridge, NJ 08857; 732-727-3300, Fax 732-727-8395. Or contact, Harvey Schultz, The Schultz Organization, 900 Route 9 North, Woodbridge, NJ 07095; 732-855-0001, Fax 732-855-0034; Web site: www.schultznet.com.
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