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New Construction
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New ConstructionH.K. Partners, LLC plans to complete Koreatown Center, a 100,000 sq.ft. enclosed shopping center at the intersection of Olympic Boulevard and Western Avenue in Los Angeles, CA during Spring of next year. The project will be anchored by a 40,000 sq.ft. H.K. Market which will include a pharmacy and cosmetics counter. The flagship market will be the chain’s sixth in CA. The center will have space for 60 retailers in addition to the H.K. Market, and the developers hope to attract small, independently owned shops that will make the center a destination for the Korean community of southern CA. For more information, contact Maura Schafer at (310-276-7303).
Trademark recently broke ground on Phase II construction of Apple Glen Crossing, a 475,000 sq.ft. retail center at the intersection of Illinois Road and West Jefferson Boulevard in Fort Wayne, IN. Highlights of the construction include expansion of Wal*Mart to become a Supercenter of 210,000 sq.ft.. and the opening of Dick’s Sporting Goods, PETsMART, Pier 1, Shoe Carnival and Fashion Bug. Phase II stores are slated to open this summer, when Phase III construction on the project is scheduled to commence. For more information, contact Liz Copeman at (817-810-5307).
The Sembler Company plans to develop two Publix-anchored neighborhood strip centers in Brevard County, FL. The first, Publix at Cocoa Commons, will be a 75,000 sq.ft. center with four outparcels located at the southwest corner of the State Road 524/528 interchange in Cocoa. It is slated to open during March 2001. The other, Publix at Bayside Lakes, will measure 65,000 sq.ft. with three outparcels located on the northeast corner of Eldron and Bayside Lakes Boulevard in Palm Bay. It is slated to open during March 2001. The company has five outparcels still available at Woodstock Square, a 400,000 sq.ft. shopping center at the southwest corner of Highway 92 and Interstate 575 in Woodstock, GA. The center is anchored by SuperTarget and boasts Kohl’s, Old Navy, PETsMART and OfficeMax. A March 2001 opening is planned. The company also plans to open Midtown Place, a 251,000 sq.ft. shopping center at the northeast corner of Ponce De Leon and Lakeview Avenues in Atlanta, GA. The center is anchored by Home Depot, Staples, Borders, PETsMART, and Harris Teeter. The center is slated to open during June of this year. For more information on the Publix-anchored centers, contact Sue Harker at 321-733-7085; for Woodstock Square, contact Les Lewis at (404-816-2219), and for Midtown Place contact Tina Howard, also at (404-816-2219).
R.J. Brunelli Co. Inc. plans to break ground on Delran Towne Center, a 450,000 sq.ft., U-shaped strip center at the intersection of Route 130 and Fairview Boulevard, in October of this year. Anchors include Lowe’s and Shop Rite. Outparcels of 6,000 sq.ft. and 4,000 sq.ft. are available. The asking rent is $14 to $17 psf, with CAM of $1.24 psf and taxes of $2 psf. Demographics indicate a population of 129,000 residing within five miles earning $76,000 as average income. The daily traffic count is 47,000 cars. For more information, contact Nick Romagnoli at (732-721-5800), Fax (721-9241), Email (romagnoli@NJRetail.com), Web site (www.NJRetailRealty.com).
Finard & Company recently broke ground on Carriagetown Marketplace, a 97,500 sq.ft. strip center on Burlingtown Woods Drive in Amesbury, MA. The center will be anchored by Super Stop N Shop and has Bo-rics Hair Care and Provident Bank as other tenants. Spaces of 1,600 sq.ft. to 3,000 sq.ft., 3,000 sq.ft. to 6,000 sq.ft. an end cap of 6,000 sq.ft. are available. Five-mile demographics show a population of 49,500 earning $56,000 as average income. The daily traffic count fluctuates between 30,000 and 40,000 seasonally. The asking rent is $18 to $20 psf, with CAM and taxes not determined as of yet. For more information, contact David Birmingham at (781-273-5555), Fax (272-8408), Email (Dbirmingham@Finard.com).
Richard Flagel Realty plans to develop Discount Drug Mart Shopping Center, a 50,000 sq.ft strip center anchored by Discount Drug Mart at the intersection of Lyons and Yankee in the Dayton area of OH. The center is slated to open during Fall 2000. Spaces of 1,600 sq.ft to 25,000 sq.ft are available.The asking rent is $15 psf, as is market rent, with CAM at $1.50 psf and taxes $1 psf. Target, Kmart, and the Dayton Mall operate nearby. Demographics include a population of 380,000 residing within ten miles earning $56,628 as household income. The daily traffic counts are 22,00 cars (Lyons) and 14,800 cars (Yankee). For more information, contact Sharon Konkler at (937-433-4123), Fax (433-4093), Email flagelre@dayton.net.
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