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New Construction
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New Construction General Growth Properties is developing Otay Ranch Town Center, an 860,000 sq.ft. center located in Chula Vista, CA. The four separate courts that make up the center include a family court, entertainment court, fashion court and a sports court and feature more than 150 high-end specialty shops and services. The center is tenanted by a 16-screen AMC Theatres, three department stores, six sit-down restaurants, a recreation venue and a gourmet supermarket. Demographics include a trade-area population of 467,900. The company also is developing Summerlin Center located at the foothills of the Spring Mountain range on the western end of Las Vegas, NV. The center will be anchored by four department stores and will feature a mix of smaller stores and specialty retailers. Opening is slated for Fall 2007. Demographics include a trade-area population of 614,100. For more information, contact General Growth Properties, 110 North Wacker Drive, Chicago, IL 60606; 312-960-5000.
Saugatuck Commercial Real Estate, LLC is preleasing Waterfall Plaza, a 145,000 sq.ft. center located on Route 25 in Newtown, CT. The center will include junior anchor and lifestyle tenant opportunities. Some tenants include Washington Mutual, Quiznos and ColdStone Creamery. Opening is slated for the third quarter of 2006. The company also is preleasing North Colony Square, a 17,000 sq.ft. center located on Route 5 in Wallingford, CT. The project has an endcap drive-thru available. Area retail includes Wal*Mart Supercenter, Sears, Super Stop & Shop and Petco. For more information, contact Penny P. Wickey or Jason Wuchiski, Saugatuck Commercial Real Estate, LLC, 728 Post Road East, Suite 200, Westport, CT 06880; 203-222-4190, Fax 203-222-4186; Emails: pwickey@saugatuckcommercial.com and jwuchiski@saugatuckcommercial.com.
Hermansen Land Development is developing the first phase of The Shops at Starwood, an 80,000 sq.ft. center located at the intersection of Lebanon Road and the Dallas North Tollway in Frisco, TX. The center will include specialty restaurants, personal services, fashion retail and luxury small office space. Opening is slated for March 2006. The site will include ornamental landscaping, park benches, water features, outdoor plaza areas, lighted tree canopies, pedestrian paths and decorative fixtures. For more information, contact Hermansen Land Development, 7015 Snider Plaza, Suite 202, Dallas, TX 75205; 214-373-4202, Fax 214-373-0737; Email: inquiries@hermansenlanddevelopment.com.
The Staubach Co. is preleasing The Shops at Preston Ridge, a 120,000 sq.ft. center located at the intersection of Highway 121 and Parkwood in Frisco, TX. Opening is slated for Summer 2006. Area retail includes IKEA. For more information, contact The Staubach Co., 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 800-944-0012; Email: info@staubach.com; Web site: www.staubach.com.
The Procida Organization is preleasing Plaza 163, a 48,000 sq.ft. center located on East 163rd Street in the Bronx, NY, one block west of Third Avenue. A pad site with a drive-thru is available at the center. Opening is slated for summer 2006. Area demographics include a population of 200,000 within one mile. The first phase of the development, which includes Washington Plaza, a 14,000 sq.ft. center, was completed last month. That phase has spaces available of 1,300 sq.ft. and 2,500 sq.ft. Cotenants include Dunkin’ Donuts, BP Amoco and The Wild Bean Café. For more information, contact Spencer Cohen, Procida Brokerage & Real Estate Services, Inc., 456 East 173rd Street, Bronx, NY 10457; 718-299-7000 Ext. 212, Fax 718-716-9054; Email: scohen@procidarealty.com.
Commercial Retail Advisors, LLC is preleasing Safeway Sahuarita Center located at the intersection of La Canada and Duval Mine Road in Sahuarita, AZ. Opening is slated for the first quarter of next year. The site has an average daily traffic count of 28,200 vehicles. Area demographics include a population of 30,872 within 10 miles earning $55,025 as the average household income. Asking rents range from $24 psf to $28 psf with CAM of $4.50 psf. For more information, contact Linda Montani, Commercial Retail Advisors, LLC, 4811 East Grant Road, Suite 262, Tucson, AZ 85712; 520-290-3200, Fax 520-751-7465; Email: lmontani@cradvisorsllc.com; Web site: www.cradvisorsllc.com.
KMA Commercial Real Estate is preleasing Soho Square, 250,000 sq.ft. center located at the intersection of 18th Street South and Highway 31 in Birmingham, AL. Opening is slated for November. The center has spaces available of 2,200 sq.ft.; 2,700 sq.ft. and 3,200 sq.ft., is anchored by Soho Market and is cotenanted by Zoe Kitchen, Soho Sweets, Habache, Merle Norman, Fusion Spa, Grey House Grill and Jackson Bistro. Asking rent is $24 psf. Area demographics include a population of 191,578 within five miles earning $69,132 as the average household income. For more information, contact Tammy Johnson, KMA Commercial Real Estate, PO Box 131194, Birmingham, AL 35213; 205-877-4040, Fax 205-599-2192; Email: tjohnson@zebra.net.
1st Carolina Properties is preleasing Indian Trail Crossing, a 36,000 sq.ft. center located at the intersection of Highway 74 and Unionville Indian Trail Road in Indian Trail, NC. The center has spaces available of 1,200 sq.ft.; 2,000 sq.ft. and 4,000 sq.ft., as well as outlots of 43,000 sq.ft. and 76,000 sq.ft., and is anchored by Wal*Mart Supercenter. Area demographics include a population of 64,571 within five miles earning $66,783 as the average household income. The site has an average daily traffic count of 50,000 vehicles. For more information, contact Jim Broemer, 1st Carolina Properties, 523 Keisler Drive, Suite 202, Cary, NC 27511; 919-657-5005, Fax 919-657-5006; Email: jbroemer@1stcarolinaproperties.com; Web site: www.1stcarolinaproperties.com.
The Paradise Group is preleasing a 15,400 sq.ft. center located at the intersection of Price Boulevard and Toledo Blade Boulevard in North Port, FL. Area demographics include a population of 39,107 within five miles earning $46,225 as the average household income. For more information, contact The Paradise Group, 2901 Rigsby Lane, Safety Harbor, FL 34695; 727-726-1115, Fax 727-726-2337.
Duke Realty Corp. is preleasing The Shops at Pembroke Gardens, a 400,000 sq.ft. center located at the intersection of Pines Boulevard and Interstate 75 in Pembroke Pines, FL. The center is situated on a land area of 40 acres and has spaces available of 800 sq.ft. to 32,000 sq.ft. Opening is slated for October 2006. Area retail includes Home Depot, JCPenney Home and Linens ‘N Things. For more information, contact Duke Realty Corp., 600 East 96th Street, Suite 100, Indianapolis, IN 46240; 317-808-6175, Fax 317-808-6787; Web site: www.dukerealty.com.
The Wilder Cos. is preleasing The Newbry, a 600,000 sq.ft. mixed-use urban redevelopment located in Boston, MA. Area demographics include a population of 435,656 within three miles earning $70,500 as the average household income. For more information, contact The Wilder Cos., Horticultural Hall, 300 Massachusetts Avenue, Boston, MA 02115; 617-247-9200, Fax 617-247-4044; Web site: www.wilderco.com.
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. 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.
Commerce Commercial Real Estate Services is preleasing a mixed-use center located on 9400 South 100 East in Sandy, UT. Opening is slated for Winter 2005 and Spring 2006. The center is anchored by Wal*Mart Supercenter and Lowe’s Home Improvement. For more information, contact Chad Moore, Commerce Commercial Real Estate Services, 175 East 400 South, Suite 700, Salt Lake City, UT 84111; 801-303-5457; Email: cmoore@commercecrg.com. |