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New Construction
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New ConstructionDavid A. Mack Properties, LLC plans to develop Corwest Plaza on a 17-acre site at the intersection of West Main and Corbin Avenue in New Britain, CT. A November opening is planned. The strip center will be anchored by Super Stop & Shop while other tenants will include CVS, Subway and Western Bank. A 30,000 sq.ft. space is available. The asking rent is $18 to $22 psf. Extra charges include CAM at $3 psf. Demographics include a population of 50,000 residing within five miles earning $45,000 as average income. Shaw’s is a major retailer in the area. The company also plans to develop Franklin Square on a 14-acre site at the intersection of Franklin Street and Watsessing in Bloomfield/Belleville, NJ. A November opening is planned. The strip center will be anchored by Edward’s and other tenants will include AutoZone. The asking rent is $16 to $20 psf. Extra charges include CAM at $3.50 psf. A space of 60,000 sq.ft. is available for lease. Demographics include a population of 100,000 residing within five miles earning $38,000 as average income. Major retailers in the include Pathmark and Staples. For more information, contact David A. Mack at (203-256-7788). Grubb & Ellis plans to develop Freeway Plaza, a 125,000 sq.ft., L-shaped power center at the intersection of I-10 and Rosemont Boulevard in El Monte, CA. A first quarter 2001 opening is planned. Spaces of 40,000 sq.ft., 30,000 sq.ft., and 20,000 sq.ft. are available, as are two outparcels of 5,000 sq.ft. and 4,500 sq.ft. The asking rent is $15 psf., while market rent is $16 psf. Freeway off-ramps flow directly into the 600-space parking lot. For more information, contact Mark Hong at (213-622-9595). Paragon Realty Inc. plans to develop Royal Cove Plaza, a 54,442 sq.ft. strip center at the intersection of U.S. Highway 41 and Royal Cove in Naples, FL. A Spring 2001 opening is planned. The asking rent is $15 to $20 psf, as is the market rent. Extra charges include CAM at $3.75 psf. Demographics include a population of 49,000 residing within five miles earning $59,000 as average household income, and a daily traffic count of 41,400. For more information, contact Paul Alford at (888-643-0600). Kiemle & Hagood is expanding Avgonne Village, a 170,000 sq.ft. specialty center at the intersection of Avgonne, Montgomery and Trent Avenues in Spokane, WA. An August opening is planned. Spaces of 50,000 sq.ft. (the expansion area), 25,000 sq.ft. (formerly housing a supermarket) and 15,000 sq.ft. (formerly housing a drug store) are available, as are three outparcels of 40,000 sq.ft., 45,000 sq.ft. and 50,000 sq.ft. Demographics include a population of 122,500 residing within five miles earning $46,281 as average income. The signalized intersection sees a daily traffic count of 66,000 cars. Access to the 800-space parking lot is enabled by four curb cuts. Albertson’s is a major retailer in the area. For more information, contact Steve McIntosh at (509-838-6541). RD Management plans to open Harriman Commons, a 400,000 sq.ft. power center at the intersection of Routes 17 and 6 in Woodbury, NY during Spring of this year. The project will be anchored by Home Depot and Wal*Mart. A 135,000 sq.ft. space is available in addition to two outparcels of 4,000 sq.ft. each. Demographics include a population of 38,000 residing within five miles earning $61,255 as average income. The company also plans to open Carlstadt, a 76,268 sq.ft. power center at the intersection Patterson Avenue and Garden Street in Carlstadt, NJ. The project will be anchored by Grand Union and BlockBuster Video. A 6,000 sq.ft. space is available, as is a 4,000 sq.ft. outparcel. Demographics include a population of 489,000 residing within five miles earning $58,707 as average income. For more information, contact Maryann Savarese at (212-265-6600). Michael Joseph Development Corporation recently broke ground on The Commons, a 350,000 sq.ft. strip center at the intersection of Route 255 and Shaffer Road in Dubois, PA. The project will be anchored by Lowe’s Home Center and Shop N Save, while negotiations are underway with four junior anchors. Demographics include a trade area population of 221,000 earning $38,000 as average income. The daily traffic count is in excess of 20,000 cars. Three signalized intersections feed the 1,800-parking space site. Major retailers in the area include Sears, JC Penney, Wards, Ames Wal*Mart and Kmart. For more information, contact Kevin Dougherty or Guy DiRienzo at (724-934-1006).
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