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New Construction
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New Construction KGI Properties, LLC is developing a 520,000 sq.ft. center located on Ashford Motel Road at the Union and Ashford, CT border. Demographics include a population of 44,621 within a 10-mile radius earning an average household income of $76,073. Opening is scheduled for fall of 2009. The company is also developing Gateway Commons, a mixed-use development with 400,000 sq.ft. of retail located at the intersection of Flanders Road and Interstate 95 in East Lyme, CT. Demographics include a population of 131,327 within a 10-mile radius earning an average household income of $63,579. Opening is scheduled for fall of 2009. The company is also developing Payne’s Crossing, a 485,000 sq.ft. center located at the intersection of South Main Street and Route 24 in Freetown, MA. Demographics include a population of 244,878 within a 10-mile radius earning an average household income of $39,657. Opening is scheduled for spring of 2010. The company is also preleasing Scarborough Gallery, a 510,000 sq.ft. development anchored by Lowe’s Home Improvement and Wal*Mart located at the intersection of Payne Road and Spring Street in Scarborough, ME. Cotenants include Staples, Texas Roadhouse and McDonald’s. Demographics include a population of 177,530 within a 10-mile radius earning an average household income of $54,856. Phase one, consisting of both anchors, is expected to open during the fall of 2007 with the small shops and pads opening during the spring of 2008. The company is also preleasing a 60,000 sq.ft. expansion of Silo Marketplace, a shopping center located at the intersection of Montello Street and Main Street in Carver, MA. The center is anchored by Aubuchon Hardware and cotenanted by Tubs & Tans, Carver Appliance, Computer Advantage, Mazilli Pools and Tiki Kye. Demographics include a population of 139,931 within a 10-mile radius earning an average household income of $67,411. Opening is expected in spring of 2009. The company is also developing Crossroads Commons, an 850,000 sq.ft. center located at the intersection of Route 95 and Route 93 in Woburn, MA. Area retail includes Kohl’s, Petco, Target and Lowe’s Home Improvement. Demographics include a population of 185,877 within a five-mile radius earning an average household income of $80,513. Opening is scheduled for fall of 2010. The company is also preleasing Wayland Town Center, a 205,000 sq.ft. center located at the intersection of Route 20 and Route 27 in Wayland, MA. Spaces of 1,200 sq.ft. to 15,000 sq.ft. are available. Demographics include a population of 518,678 within a 10-mile radius earning an average household income of $103,177. For more information, contact Joseph E. Harnan, KGI Properties, LLC, 45 Broad Street, Boston MA 02109; 617-226-0888 Ext. 813, Fax 617-357-9990; Email: j.harnan@kgiproperties.com; Web site: www.kgiproperties.com. Azarian Realty Co. is redeveloping and expanding Raritan International Center, a 75,000 sq.ft. strip center situated on 13.73 acres on Raritan Street in Sayreville, NJ. Space of 3,800 sq.ft. is available along with several pad sites. Anchors include Drug Fair and Family Dollar and cotenants include Subway, Nunzio’s Pizzeria and Eye Center of America. Demographics include a population of 201,103 within a five-mile radius earning an average household income of $80,469. Asking rent is $17 psf with CAM of $3 psf and taxes of $2 psf. For more information, contact John Azarian, Azarian Realty Co., 6 Prospect Street, Suite 1B, Midland Park, NJ 07432; 201-444-9888, Fax 201-444-6655; Email: jazarian@azariangroup.com; Web site: www.azariangroup.com. TC Austin Properties is preleasing The Pinnacle, a 124,000 sq.ft. strip center situated on 14 acres at the intersection of Highway 281 and Evans Road. Spaces of 1,200 sq.ft. and 20,000 sq.ft. are available, as well as an outlot of 38,000 sq.ft. Opening is slated for next year. Area demographics include a population of 41,200 within three miles earning $126,800 as the average household income. The average daily traffic count is 91,000 vehicles. Area retail includes SuperTarget and H.E.B. Plus. Asking rent is $24 psf. The company is also preleasing The Shops at Overlook, a 64,000 sq.ft. shopping center situated on six acres at the intersection of Overlook Parkway and Canyon Golf Road in San Antonio, TX. Space of 1,000 sq.ft. is available, as well as two outlots of 1,800 sq.ft. and 4,000 sq.ft. Opening is scheduled for late 2008. For more information, contact Steve Gray, TC Austin Properties, 601 Embassy Oaks, Suite 100, San Antonio, TX 78216; 210-495-5015, Fax 210-829-0384; Email: steve@tcaustin.com. Greenhill Realty Co. is preleasing Georgia Crossing at the Anchor Inn, a strip center located at the intersection of Georgia Avenue and University Boulevard in Wheaton, MD. Phase one development will have spaces available from 965 sq.ft. to 8,026 sq.ft. and is slated to open during spring 2008. Area demographics include a population of 411,407 within five miles earning $96,005 as the average household income. The average daily traffic count is 145,248 vehicles. Asking rent starts at $45 psf NNN. For more information, contact Kathy Coakley, Greenhill Realty Co., 4901 Fairmont Avenue, Bethesda, MD 20814; 301-657-2525 Ext. 17, Fax 301-657-2555; Email: kcoakley@greenhillcompanies.com. Faison is preleasing Barrow Crossing, a 550,000 sq.ft. regional power center situated on 65 acres at the intersection of SR 316/University Parkway and SR 81 in Winder, GA. Proposed anchors include Target, Belk and Publix. The center will include an additional nine anchors, 75,000 sq.ft. of small shops and five outparcels for restaurants and services. Construction is slated to begin at the end of the year with an opening scheduled for spring 2009. The company is also preleasing Logan Village, a 650,000 sq.ft. power center situated on 78 acres on Route 78 in Loganville, GA. The center will feature 12 anchors, 75,000 sq.ft. of small shop space and three outparcels. Phase one is slated to open next year and phase two, during summer 2009. For more information, contact Carol Lommerse, Faison; 704-972-2669; Email: carol.lommerse@faison.com; Web site: www.faison.com. The Velmeir Cos. is developing a center in Dewitt, MI, located at the intersection of Interstate 69 and Business Route 27. Area demographics include a population of 47,874 within five miles earning $49,442 as the median household income. For more information, contact The Velmeir Cos., 5757 West Maple Road, Suite 800, West Bloomfield, MI 48322; 248-539-7997, Fax 248-539-9449; Web site: www.velmeir.com. Laurus Corp. and La Jolla Pacific Development Group are developing a mixed-use project in San Diego, CA located at the intersection of University Avenue and 3rd Street. The 12-story development will feature 12,000 sq.ft. of retail and 58 upscale condominiums. For more information, contact Andres Szita or Philipp
Kainbacher, Laurus Corp.; 310-356-7631 Ext. 701/703; Emails: Crosland, LLC and Carolina Holdings, Inc. are preleasing Richmond Centre, a 120-acre site in Richmond, KY that will feature 800,000 sq.ft. of retail, 12 outparcels, 15.5 acres for hotels and 60,000 sq.ft. of office space. Committed anchors include Meijer, Belk, JCPenney, Cinemark Theatre and Home Depot, all of which will open during 2008, except Meijer, which will open during 2009. For more information, contact Tim Sittema, Crosland; 704-561-5297; Email: tsittema@crosland.com; Web site: www.crosland.com. Axis Commercial Realty, Inc. is preleasing phase one of The Shoppes at Hamilton Mill Crossing, a 12,000 sq.ft. strip center located at the intersection of Interstate 85 and Hamilton Mill Road in Buford, GA. The site is an outparcel to Wal*Mart Supercenter. Spaces of 1,300 sq.ft. to 4,000 sq.ft. are available. Opening is slated for October. Tenants include Sports Clips, GameStop and L.A. Nails. Area demographics include a population of 62,000 within five miles earning $78,000 as the average household income. The average daily traffic count is 40,000 vehicles. Asking rent is $27 psf plus CAM of $3.75 psf. The company is also developing The Mall of Georgia Square, an 18,500 sq.ft. strip center located at the intersection of Interstate 85, Highway 20 and Laurel Parkway in Buford, GA. Spaces of 1,500 sq.ft. to 5,000 sq.ft. are available. Opening is slated for the first quarter of 2008. More-Than-Books anchors the site. Area demographics include a population of 115,000 within five miles earning $81,000 as the average household income. The average daily traffic count is 40,000 vehicles. Area retail includes the Mall of Georgia. Asking rent is $25 psf plus CAM of $3.25 psf. For more information, contact R.J. Durham, Axis Commercial
Realty, Inc.; 404-419-6401 Ext. 3, Fax 404-419-6402; Phoenix Realty Services, Inc. is preleasing Highpoint on Congress, a mixed-use development located on South Congress Avenue between Forrest Hill Boulevard and Summit Boulevard in West Palm Beach, FL. Area demographics include a population of 279,951 within five miles earning $47,158 as the average household income. The average daily traffic count is 43,566 vehicles. For more information, contact Gary Roskin, Phoenix Realty
Services, Inc., 1101 South Rogers Circle, Suite 10; 561-988-2036 Ext. 204, Fax
561-988-2073; Email: Emercor Commercial Real Estate Group is preleasing Center of the Northshore, a 500,000 sq.ft. mixed-use center located at the intersection of Dundee Road and Skokie Boulevard in Northbrook, IL. The center will feature 210,000 sq.ft. of retail, restaurant and entertainment, 36,000 sq.ft. of office tenants, a 171-room hotel, a health and fitness center and 74 luxury condominiums. Opening is slated for spring 2008. For more information, contact Gary |