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New Construction
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New Construction Saugatuck Commercial Real Estate, LLC is preleasing Eastside Commons, a 188,000 sq.ft. mixed-use project located at the intersection of 840 and 860 East Main Street and Route 1 in Stamford, CT. The site will house 15,000 sq.ft. of retail and 108 residential units. Area demographics include a population of 164,069 within five miles earning $111,657 as the average household income. Opening is slated for the fourth quarter of 2007. For more information, contact Penny P. Wickey, Saugatuck Commercial Real Estate, LLC, 728 Post Road East, Suite 200, Westport, CT 06880; 203-22-4194; Email: pwickey@saugatuckcommercial.com; Web site: www.saugatuckcommercial.com.
Cullinan Properties, Ltd. is preleasing Southpointe Town Center, a 410,950 sq.ft. lifestyle center located at the intersection of Morganza Road and Interstate 79 in Cannonsburg, PA. The center is situated on a land area of 50 acres and has spaces available of 7,500 sq.ft. to 47,200 sq.ft. Opening is slated for early 2008. Demographics include a trade-area population of 435,407 earning $79,497 as the average household income. The site has an average daily traffic count of 50,000 vehicles. The site serves the greater Pittsburgh, PA market. For more information, contact Cal Hileman, Culllinan Properties, Ltd., 211 Fulton, Suite 700, Peoria, IL 61602; 309-999-1735, Fax 309-999-1717; Email: chileman@cullprop.com; Web site: www.cullinanproperties.com.
Grubb & Ellis/Cressy & Everett Commercial is planning to develop Carbon Mill Plaza, a proposed 30,000 sq.ft. center located northeast of the U.S. 31 Bypass and Brick Road in South Bend, IN. The center is expected to open by Summer 2007. The center will comprise three separate buildings, and there is a 1.5-acre outlot that will include a fourth building. For more information, contact Grubb & Ellis/Cressy & Everett Commercial, 3930 Edison Lakes Parkway, Suite 200, Mishawaka, IN 46545; 574-271-4060, Fax 574-271-4292; Web site: www.cressyandeverett.com.
Metropolitan Management Co. is preleasing The Village at Odenton Station, a 400,000 sq.ft. mixed-use project located at the intersection of Annapolis Road and Morgan Road in Odenton, MD. The center is situated on a land area of 10 acres next to a rail station and has spaces available of 900 sq.ft. to 9,000 sq.ft. Area demographics include a population of 116,651 within five miles earning $92,963 as the average household income. The site has 60,000 sq.ft. of first floor retail, 9,000 sq.ft. of second floor office space and 227 residential condominiums above the retail/office space. Asking rent is $33 psf net. Groundbreaking is schedule for this month. For more information, contact Patricia Palumbo, Metropolitan Management Co., 11299 Owings Mills Boulevard, Suite 200, Owings Mills, MD 21117; 410-902-0290, Fax 410-902-4760; Email: ppalumbo@mmc-mail.com.
Quantum Development is developing Collins Village, a 65,000 sq.ft. strip center located at the southeast corner of South Collins and South Green Oak Boulevard in Arlington, TX. Opening is slated for July or August 2007. The center is situated on a land area of 8.46 acres. Area demographics include a population of 248,029 within five miles earning $67,913 as the average household income. Market rents range from $15 psf to $30 psf, while asking rents range from $17 psf to $25 psf with CAM of $4.50 psf. Area retail includes Kroger and Albertsons. For more information, contact Gem Jones, Quantum Development, PO Box 182691, Arlington, TX 76096; 214-695-6279, Fax 972-293-8955; Email: jpm.email@comcast.net.
KMA Commercial is preleasing Caufield Square, an 80,000 sq.ft. center located at the intersection of Fieldstown Road and Mt. Olive in Gardendale, AL. The center is situated on a land area of 20 acres and has spaces available of 1,200 sq.ft. to 10,000 sq.ft. Opening is slated for Spring 2007. Area demographics include a population of 100,000 within five miles earning $50,000 as the average household income. Asking rent is $17 psf with CAM of $3 psf. Area retail includes Wal*Mart Supercenter. For more information, contact Tammy Johnson, KMA Commercial, PO Box 131194, Birmingham, AL 35213; 205-877-4040, Fax 205-599-2192; Email: tjohnson@zebra.net.
Tomas Partners, LLC is developing Shops at Powder Springs, a 15,060 sq.ft. center located at the intersection of Powder Springs Road and Fair Road in Marietta, GA. The site has an average daily traffic count of 28,000 vehicles. Area retail includes Wal*Mart Supercenter, Kroger and Regal Cinemas. Demographics include a trade-area population earning $80,000 as the average household income. Asking rent is $17 psf with CAM of $2.90 psf. For more information, contact Tomas Partners, LLC, 2100 Roswell Road, Suite 200 C, Marietta, GA 30062; 404-579-3777; Web site: www.tomaspartners.com.
Preferred Development is developing a 25,000 sq.ft. center located at the intersection of 115th Street and Halsted in Chicago, IL. The center is tenanted by Aldi, Walgreens, Ashley Stewart, Downtown Locker Room and Simply Fashions. Opening is slated for Spring 2007. Area demographics include a population of 467,373 within five miles earning $55,436 as the average household income. The company also is developing a 15,000 sq.ft. center located on Route 22 in Fox River Grove, IL. The center has spaces available that range in size from 1,500 sq.ft. to 4,500 sq.ft. Opening is slated for early 2007. The site has an average daily traffic count of 50,300 vehicles. Area demographics include a population of 84,384 within five miles earning $116,081 as the average household income. For more information, contact Joe Padorr, Preferred Development, 312-327-2700 Ext. 229; Email: joe@preferreddevelopment.com; Web site: www.preferreddevelopment.com.
Colonial Properties Trust entered into a joint venture with Pappas Properties, LLC and Collett & Associates to develop Metropolitan Midtown, a mixed-use center located in Charlotte, NC. The project will feature the region’s only stacked retail anchors, a Target store and a Home Depot Expo Design Center, plus 150,000 sq.ft. of office space, three distinct offerings of for-sale residential properties, and an additional 198,000 sq.ft. of retail. Colonial Properties will take a lead role in the development and leasing of the office space and supplement the retail effort. For more information, contact Barbara M. Pooley, Colonial Properties Trust, 2101 6th Avenue North, Suite 750, Birmingham, AL 35203; 205-250-8700, Fax 205-250-8890; Web site: www.colonialprop.com.
Avalon Investments, Inc. is planning to develop a 90,000 sq.ft. center located in Rio Rancho, NM. The center will include big box and small shop space. For more information, contact Avalon Investments, Inc, 1015 Tijeras Avenue NW 210, Albuquerque, NM; 505-338-2284.
The Peterson Cos. is planning to develop 470,000 sq.ft. of retail space near the Virginia Gateway in Gainesville, VA. The mixed-use space is expected to include restaurants, upscale shops, department stores, a movie theater and possibly a hotel at the center, which is expected to be called Wentworth Green at Virginia Gateway. Area retail includes Lowe’s Home Improvement, Target and Giant Food. For more information, contact The Peterson Cos., 12500 Fair Lakes Circle, Suite 400, Fairfax, VA 22033; 703-227-2000, Fax 703-631-6481; Web site: www.petersoncos.com.
Carolina Holdings, Inc. is planning to develop The Shoppes at Richmond Centre, a proposed 120-acre open-air center with 750,000 sq.ft. of retail space located at the northwest corner of Interstate 75’s Exit 87 in Richmond, KY. The site has an average daily traffic count of 53,000 vehicles. For more information, contact Carolina Holdings, Inc., 300 North Main Street, Suite 402, Greenville, SC 29601; 864-272-0088, Fax 864-272-0078; Web site: www.choldings.com.
The Caldwell Cos. is preleasing Burns Corner, a 33,106 sq.ft. strip center located at the intersection of Lawrenceville Highway and La Vista Road and Lynburn Road in Tucker, GA. Opening is slated for Fall 2007. The center is anchored by Walgreens and has spaces available of 8,000 sq.ft. and 8,800 sq.ft. Area demographics include a population of 83,829 within three miles earning $70,672 as the average household income. Area retail includes Wal*Mart, Kroger, Publix and Goody’s. Asking rent is $25 psf. For more information, contact W. Michael Caldwell or Andrea Smith, The Caldwell Cos., PO Box 3579, Ponte Vedra Beach, FL 32004; 904-270-8140, Fax 904-270-8143. |