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New Construction
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New Construction RED Development and Westcor are planning to develop Prasada, a two million sq.ft. center located at the intersection of Loop 303 and Waddell Road in Surprise, AZ. The center will be situated on a land area of 800 acres. Opening is slated for Fall 2007. Area demographics include a population of 141,101 within five miles earning $78,112 as the average household income. The center is the retail component of a 4,200-acre master-planned development. RED Development also is developing Sparks Marina, an 800,000 sq.ft. center located at the intersection of Interstate 80 and Sparks Boulevard in Sparks, NV. The center will be situated on a land area of 130 acres. Opening is slated for Spring 2007. Area demographics include a population of 151,596 within five miles earning $54,790 as the average household income. RED Development is developing the Overland Park Entertainment District and Events Center located at the intersection of 115th Street and Metcalf Avenue in Overland Park, KS. The 330,000 sq.ft. center will be situated on a land area of 38 acres and opening is slated for Fall 2006. Area demographics include a population of 220,019 within five miles earning $94,458 as the average household income. Area retail includes Best Buy, Kohl’s, Target and DSW. For more information, contact Lee Stiegemeier, RED Development, 4717 Central, Kansas City, MO 64112; 816-876-2507, Fax 816-777-3501; Email: lstiegemeier@reddevelopment.com; Web site: www.reddevelopment.com.
NewQuest Properties is preleasing Brazos Town Center, a 416-acre mixed-use development located at the intersection of U.S. 59 and FM 762 in Rosenberg, TX. The site has an average daily traffic count of 76,000 vehicles. The center is currently anchored by The Home Depot, Chili’s and Cinemark. Area demographics include a population of 82,340 within five miles earning $59,520 as the median household income. For more information, contact David K. Meyers or Eric Walker, NewQuest Properties, 8807 West Sam Houston Parkway North, Suite 200, Houston, TX 77040; 281-477-4300, Fax 281-477-4321; Emails: dmeyers@newquest.com and ewalker@newquest.com.
GBT Realty Corp. is preleasing Whiskey Station, a 105,986 sq.ft. center located on Whiskey Road in Aiken, SC. The site has an average daily traffic count of 28,710 vehicles. Area demographics include a population of 55,721 within seven miles earning $58,873 as the average household income. For more information, contact Bill Ridenour, GBT Realty Corp., 201 Summit View Drive, Suite 110, Brentwood, TN 37027; 615-370-0670; Web site: www.gbtrealty.com.
The Paradise Group is preleasing Paradise Shoppes at Summerville, a 23,800 sq.ft. center located at the intersection of Old Orangeburg Road and Central Avenue in Summerville, SC. Opening is slated for late next year. The site has an average daily traffic count of 16,800 vehicles. The center also has outparcels available of 57,746 sq.ft.; 59,500 sq.ft.; 63,474 sq.ft. and 65,511 sq.ft. Area demographics include a population of 62,465 within five miles earning $52,976 as the average household income. The company also is preleasing Paradise Shoppes at Crabapple, an 8,400 sq.ft. center located at the intersection of Arnold Mill Road and Crabapple Road in Alpharetta, GA. Opening is slated for the third quarter of 2006. The site has an average daily traffic count of 37,790 vehicles. Area demographics include a population of 117,060 within five miles earning $92,738 as the average household income. For more information, contact Bre Wagner, The Paradise Group, 100 Glenridge Point Parkway, Suite 475, Atlanta, GA 30342; 404-459-8740.
Zaremba Group is preleasing Glennwood Commons, a 580,000 sq.ft. center located on U.S. Route 36 in Delaware, OH. The center will be situated on a land area of 91 acres. Area demographics include a population of 98,713 within 10 miles earning $97,220 as the average household income. The company also is preleasing Northpointe Center, a 400,000 sq.ft. center located off Interstate 70 in Zanesville, OH. The initial phase of the development is anchored by Kohl’s, Home Depot and T.J. Maxx. Demographics include a trade-area population of 162,008 earning $53,955 as the average household income. Opening is slated for the fall. The company also is preleasing The Quentin Collection, a 180,000 sq.ft. retail development located on Rand Road in Kildeer, IL. Area demographics include a population of 328,686 within seven miles earning $129,437 as the average household income. For more information, contact Zaremba Group, 14600 Detroit Avenue, Cleveland, OH 44107; 216-221-6600; Web site: www.zarembagroup.com.
Developers Diversified Realty is developing Southern Tier Crossings, a 665,425 sq.ft. center located at the intersection of Route 64 and Route 17 in Horseheads, NY. Opening is slated for 2007. The center will be anchored by a 207,270 sq.ft. Wal*Mart Supercenter. Area demographics include a population of 87,041 within 10 miles earning $52,485 as the average household income. For more information, contact Developers Diversified Realty, 3300 Enterprise Parkway, Beachwood, OH 44122; 216-755-5500, Fax 216-755-1500; Web site: www.ddr.com.
Commercial Real Estate Services is preleasing Dominion Commons, a 325,000 sq.ft. center located at the intersection of Dominion Boulevard and Cedar Road in Chesapeake, VA. Opening is slated for Spring 2006. The center is anchored by Wal*Mart Supercenter. The site has an average daily traffic count of 22,000 vehicles. Area demographics include a population of 101,299 within five miles. The company also is preleasing Edinburgh Commons, an 850,000 sq.ft. center located at the intersection of Chesapeake Expressway and Hillcrest Parkway in Chesapeake, VA. The center is currently anchored by Home Depot. Area demographics include a population of 184,481 within 10 miles earning $70,795 as the average household income. The site has an average daily traffic count of 40,294 vehicles. For more information, contact Commercial Real Estate Services, 1081 19th Street, Suite 202, Virginia Beach, VA 23451; 757-491-1990, Fax 757-491-7588; Email: mollie@cres-va.com.
Hopkins Real Estate Group is developing a center located at the intersection of Limonite Avenue and Interstate 15 Freeway in Riverside, CA. Opening is slated for the fall. The center will have anchor space available of 10,000 sq.ft. to 200,000 sq.ft. and is being preleased by CB Richard Ellis, Inc. For more information, contact Sharon Courtway, Hopkins Real Estate Group, 17461 Derian Avenue, Suite 106, Irvine, CA 92614; 949-270-2400, Fax 949-644-8631; Email: scourtway@hopkinsgroup.com and bhopkins@hopkinsgroup.com. Or contact, Brian McDonald, CB Richard Ellis, Inc., 4141 Inland Empire Boulevard, Suite 100, Ontario, CA 91764; 909-418-2000, Fax 909-418-2100; Emails: brian.mcdonald@cbre.com and erik.westedt@cbre.com.
The Shopping Center Group is preleasing Little River Pavilion, a center located at the intersection of Highway 17 and Highway 179 in Little River, SC. The center is situated on a land area of 35 acres and is anchored by Lowes Foods. Opening is slated for the first quarter of 2006. Area demographics include a population of 20,898 within five miles earning $52,694 as the average household income. The site has an average daily traffic count of 43,200 vehicles. For more information, contact The Shopping Center Group, 3801 Barrett Drive, Suite 101, Raleigh, NC 27609; 919-380-8041, Fax 919-380-8942.
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