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New Construction
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New Construction Developers Diversified Realty is developing Phase III of Nassau Park Pavilion, a 1.2 million sq.ft. center located at the intersection of U.S. Route 1 and Quaker Bridge Road in Princeton, NJ. The center is currently anchored by Wal*Mart, Sam’s Club, Wegmans, Target, Home Depot, Kohl’s, Dick’s Sporting Goods, Babies “R” Us, Best Buy, Linens ‘n Things, Michaels, Borders and PetsMart. Phase III will include 40,800 sq.ft. of small shop space and is slated for completion during Fall 2005. The company also is developing Freehold Marketplace, a 500,000 sq.ft. center located at the intersection of State Highway 33 and Route 537 in Freehold, NJ. Opening is slated for next year. Anchors will include a 216,204 sq.ft. Wal*Mart and a 153,000 sq.ft. Sam’s Club. Area demographics include a population of 279,885 within 10 miles earning $99,372 as the average household income. For more information, contact Developers Diversified Realty, 3300 Enterprise Parkway, Beachwood, OH 44122; 216-755-5500, Fax 216-755-1500; Web site: www.ddr.com.
Kite Development is developing the final phase of Silver Glen Crossing, a 150,000 sq.ft. center located on Randall Road in South Elgin, IL. Area demographics include a population of 393,532 within 10 miles earning $92,709 as the average household income. The company also is developing Tarpon Springs Plaza, a 275,000 sq.ft. center located at the intersection of Interstate 75 and Immokalee Road in Naples, FL. Area demographics include a population of 230,249 within 10 miles earning $87,045 as the average household income. For more information, contact Gregg Poetz, Kite Development, 30 South Meridian Street, Suite 1100, Indianapolis, IN 46204; 317-578-5153; Email: gpoetz@kiteco.com.
Park Square, LLC is preleasing Park Square at FishHawk Ranch, a 34,750 sq.ft. center located within the 3,000-acre master-planned community of FishHawk Ranch in Lithia, FL. The center is located at the intersection of FishHawk Crossings Boulevard and Dorman Road and is slated to open during May. Rents are $24 psf NNN with CAM of $4 psf. Area demographics include a population of 68,610 within five miles earning $91,351 as the average household income. The town center is adjacent to a two-acre park with interactive water fountain, performance stage venue, outdoor living room and village greens. The project will include specialty and boutique retail, restaurants and a YMCA. For more information, contact Scott Shimberg, Park Square, LLC, 611 West Bay Street, Tampa, FL 33606; 813-254-6756, Fax 813-254-4816; Email: scott@hydeparkbuilders.com.
Reisenfeld & Co. is preleasing Renaissance Park, a 300,000 sq.ft. center located at the intersection of Interstate 71 and Pearl Road in Strongsville, OH. The center will be anchored by Lowe’s Home Improvement. Area retail includes Wal*Mart and Home Depot. Opening is slated for Spring 2006. For more information, contact Hal Reisenfeld, Reisenfeld & Co., 3659 Green Road, Suite 315, Beachwood, OH 44122; 216-765-8080, Fax 216-765-8843; Email: hreisenfeld@reisenfeld.com; Web site: www.reisenfeld.com.
Stafford Properties, Inc. is developing a 9,000 sq.ft. center located in Oviedo, FL. The center has space available of 1,400 sq.ft. The company also is preleasing Two Buckhead Plaza, a 200,000 sq.ft. mixed-use center located at the intersection of West Paces Ferry Road and Peachtree Road in Atlanta, GA. The development will feature 160,000 sq.ft. of office space and 40,000 sq.ft. of retail space. The four-acre site will also include a 21-story luxury residential tower. Area demographics include a population of 258,000 within five miles earning $98,000 as the average household income. Opening is slated for Fall 2005. The company also is preleasing Phase II of Low Country Village, a 307,000 sq.ft. center located on Highway 278 in Bluffton, SC. Tenants will include Cost Plus World Market, Linens ‘N Things and Pier 1 Imports. Spaces available range from 1,000 sq.ft. to 6,400 sq.ft. Anchors include Lowe’s Home Improvement, Michaels, PetsMart and Ross Dress For Less. The company also is preleasing Village Center, an 18,350 sq.ft. center located in Tifton, GA. Tenants include Moe’s Southwest Grill, CiCi’s Pizza, Subway and Colony Bank. The company also is preleasing Stonecrest Promenade, a 16,000 sq.ft. center located in Lithonia, GA. Area retail includes Marshall’s, Pier I Imports and Ross Dress For Less. Construction is slated to begin Fall 2004. For more information, contact Stafford Properties, Inc., 80 West Wieuca Road, Suite 302, Atlanta, GA 30342; 404-256-9100, Fax 404-256-6358; Web site: www.staffordprop.com.
Metro Developers is developing Ogeechee Village, a 100,000 sq.ft. center located at the intersection of Highway 204, Highway 17 and Little Neck Road in Savannah, GA. The center has spaces available of 1,000 sq.ft. to 50,000 sq.ft. Construction is slated to begin during January. Area retail includes Wal*Mart, Lowe’s Home Improvement and Kroger. Market rent is $20 psf. For more information, contact Andrew Feiler, Metro Developers, 1232 Mansfield Avenue, Atlanta, GA 30307-1529; 404-582-0590, Fax 404-582-0591; Email: abf@mindspring.com.
CB Richard Ellis, Inc. is preleasing New Lenox Retail Center located at the intersection of Route 30 and Schoolhouse Road in New Lenox, IL. Opening is slated for October 2005. The 350,000 sq.ft. center will be anchored by Lowe’s Home Improvement, Target and Michael’s. Area demographics include a population of 72,671 within five miles earning $80,433 as the average household income. For more information, contact Joe Parrott or Mike Streit, CB Richard Ellis, Inc., 3000 Lakeside Drive, Suite 105 S, Bannockburn, IL 60015; 847-572-1454, Fax 847-572-1401; Emails: joe.parrott@cbre.com and mike.streit@cbre.com.
National Realty & Development Corp. is developing Marketplace at Rockaway, a 258,000 sq.ft. center located on Mount Pleasant Avenue, between Exits 34 and 35 of Interstate Route 80 in Rockaway, NJ. Opening is slated for Spring 2005. Area retail includes Rockaway TownSquare Mall. The site has an average daily traffic count of 107,419 vehicles. Area demographics include a population of 353,063 within 10 miles earning $103,367 as the average household income. The company also is developing a 30,000 sq.ft. site located on St. Paul Street in Baltimore, MD. Area demographics include a population of 611,407 within five miles earning $46,671 as the average household income. The company also is redeveloping Henrico Plaza, a 250,000 sq.ft. center located on Mechanicsville Pike in Henrico, VA with an average daily traffic count of 33,000 vehicles. Area demographics include a population of 446,176 within 10 miles earning $55,580 as the average household income. The company also is developing Cobleskill Center, a 62,000 sq.ft. center located at the intersection of New York State Routes 7 and 145 and Borst Noble Road in Cobleskill, NY. The site has an average daily traffic count of 13,300 vehicles. Area demographics include a population of 22,339 within 10 miles earning $50,166 as the average household income. For more information, contact National Realty & Development Corp., 3 Manhattanville Road, Purchase, NY 10577; 800-932-RENT; Web site: www.nrdc.com.
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