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New Construction
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New Construction Developers Realty Corp. is developing St. Augustine, a 400,000 sq.ft. center located at the intersection of State Highway 207 and State Highway 312 in St. Augustine, FL. The center is situated on a land area of 100 acres and is slated to open during early 2009. Area demographics include a population of 60,000 within five miles earning $41,000 as the average household income. The site has an average daily traffic count of 22,000 vehicles. The company also is developing Deltona Town Centre, a 400,000 sq.ft. center located at the intersection of Interstate 4 and 472 in Deltona, FL. The center is situated on a land area of 100 acres and is slated to open during the middle of 2008. Area demographics include a population of 141,783 within seven miles. The company also is developing The Oaks at Palm Coast, a 430,000 sq.ft. center located at the intersection of State Route 100 and Belle Terry Parkway in Palm Coast, FL. The center is situated on a land area of 53 acres and is slated to open late next year or early 2008. The site has an average daily traffic count of 27,000 vehicles. For more information, contact Mike Lynch, Developers Realty Corp., 433 South Main Street, West Hartford, CT 03867; 800-231-6221, Fax 860-521-4323; Web site: www.developers-realty.com .
W.M. Grace Development Co. is developing Bashas’ Plaza, a 180,000 sq.ft. center located at the intersection of Power and Chandler Heights Road in Queen Creek, AZ. Area demographics include a population of 20,000 within three miles earning $63,000 as the average household income. The site has an average daily traffic count of 24,000 vehicles. The company also is developing a 435,000 sq.ft. center located at the intersection of Interstate 10 and Dysart Road in Avondale, AZ. Anchors include Walgreens, Home Depot, Sam’s Club, Peter Piper Pizza, Del Taco and IHOP. Area demographics include a population of 115,000 within five miles earning $45,000 as the average household income. The site has an average daily traffic count of 112,000 vehicles. For more information, contact W.M. Grace Development Co., 7575 North 16th Street, Suite 1, Phoenix, AZ 85020; 602-956-8254, Fax 602-943-3548; Email: wmgraceco@msn.com .
Stirling Properties is planning to develop a center located at the intersection of Louisiana Avenue and Interstate 10 in Lafayette, LA. The center would be situated on a land area of 54 acres and the anchor store, Target, could open by late next year. For more information, contact Stirling Properties, 1819 West Pinhook Road, Suite 100, Lafayette, LA 70508-3719; 337-237-2919, Fax 337-232-2646; Web site: www.stirlingprop.com .
Rosenshein Associates is developing Palmer Square, a 170,000 sq.ft. center located in New Rochelle, NY. The center is anchored by Lowe’s Home Improvement, Marshalls and HomeGoods. For more information, contact Rosenshein Associates, 555 South Barry Avenue, Mamaroneck, NY 10543; 914-698-3600, Fax 914-698-3939.
Regency Centers is developing Portage Center located at the intersection of U.S. Highway 6 and Augusta Boulevard in Portage, IN. The 265,000 sq.ft. center is anchored by Menards and has spaces available of 14,504 sq.ft. and 50,000 sq.ft., as well as five outparcels ranging in size from 1.20 acres to 1.35 acres. Area demographics include a population of 42,346 within five miles earning $58,249 as the average household income. The site has an average daily traffic count of 18,160 vehicles. For more information, contact Regency Centers, 1315 West 22nd Street, Suite 250, Oak Brook, IL 60523; 630-645-2800 or 800-947-3739; Web site: www.regencycenters.com .
Commercial Real Estate Services is preleasing Cahoon Commons, a 325,000 sq.ft. center located at the intersection of Dominion Boulevard and Cedar Road in Chesapeake, VA. The center is anchored by Wal*Mart Supercenter. Opening is slated for the summer. Asking rent is $21 psf. Area demographics include a population of 102,541 within five miles earning $66,094 as the average household income. For more information, contact Commercial Real Estate Services, 1081 19th Street, Suite 202, Virginia Beach, VA 23451; 757-491-1990, Fax 757-491-7588; Email: mollie@cres-va.com .
Kite Realty Group Trust is developing an adjacent 5.3 acres to its Gateway Shopping Center located in Seattle, WA. Both the original Gateway Shopping Center project and this additional phase are being developed by the company through a joint venture. In total, Gateway is expected to include two anchor-owned spaces, an 88,000 sq.ft. Kohl’s Department Store and a 93,000 sq.ft. Winco Foods. The center will also include a 30,000 sq.ft. junior box, approximately 45,000 sq.ft. of small shops and five outlots. Currently, 40% of the owned GLA at Gateway is in various stages of lease negotiations. Opening for the project is slated for the first quarter of 2007. The company also is developing Tarpon Springs Plaza, a center located in Naples, FL. The center will be anchored by a non-owned Target. Approximately 97% of the owned GLA at the center is in various stages of lease negotiations. The company has signed leases with Staples, Cost Plus World Market, Panera Bread, Starbucks and Chili’s. For more information, contact Kite Realty Group Trust, 30 South Meridian Street, Suite 1100, Indianapolis, IN 46204; 317-577-5600, Fax 317-577-5605; Web site: www.kiterealty.com .
The Commercial Connection is developing Ardmore Commons, a 155,000 sq.ft. center located in Ardmore, OK. Demographics include a trade-area population of 124,800. For more information, contact Rhonda K. Martin, The Commercial Connection, 5305 Spicewood Lane, Frisco, TX 75034; 214-552-8494, Fax 972-712-3610; Email: rhonda.k.martin@comcast.net .
Forest City Commercial Group is redeveloping Flor de Yuma Mall, a 325,000 sq.ft. center located at the intersection of 4th Avenue and 32nd Street in Yuma, AZ. Area demographics include a population of 97,810 within five miles earning $56,033 as the average household income. The center is anchored by Sears. The redevelopment is slated for May 2007. The company also is developing Waterfront, a mixed-use center situated on a land area of 13 acres on M Street in Washington, DC. The center will include 800,000 sq.ft. of residential space, 1.6 million sq.ft. of office space and a minimum of 75,000 sq.ft. of retail space. Construction is slated to begin next year. Formerly known as Waterside Mall, the site is being redeveloped. The company also is developing The Shops at Wiregrass, a one million sq.ft. center located at the intersection of State Route 56 and Bruce B. Downs Boulevard in Tampa, FL. The center is anchored by JCPenney and Dillard’s. Opening is slated for Fall 2007. The retail centerpiece is part of a 5,022-acre mixed-use development that will consist of 16,000 homes, 4.4 million sq.ft. of commercial space, 3.9 million sq.ft. of office space, a 100-bed hospital and medical center, an elementary school, middle school and high school. For more information, contact Forest City Commercial Group, 50 Public Square, Suite 1026, Cleveland, OH 44113; 216-621-6060; Web site: www.forestcity.net .
Investment Property Specialists is preleasing a center located on a land area of 3.3-acres fronting Route 12/20 in Auburn, MA. The 32,000 sq.ft. center has spaces available up to 16,000 sq.ft. For more information, contact Trish O’Neil, Investment Property Specialists, 855 Worcester Road, Framingham, MA 01701; 508-875-4800, Fax 508-820-9780; Email: trish@ipsre.com .
NewMark Merrill Cos. is planning to develop a 164,000 sq.ft. center located in Thousand Oaks, CA. The space, which is situated on a land area of 12 acres, was formerly occupied by Home Depot. The center may include an Albertsons supermarket, Walgreens, a hotel and an assortment of retail shops. For more information, contact NewMark Merrill Cos., 5850 Canoga Avenue, Suite 650, Woodland Hills, CA 91367; 818-710-6100, Fax 818-710-6116.
The Allen Group is planning to develop a 107-acre, mixed-use office, industrial and retail complex adjacent to Meadows Field in Bakersfield, CA. The center is planned for a blend of office space, lodging, industrial uses, airport-related businesses, dining and retail options. For more information, contact The Allen Group, 11943 El Camino Real, Suite 200, San Diego, CA 92130; 858-764-6800, Fax 858-764-6809.
The Sembler Co. is developing Heron Creek, a center located at the southeast corner of Sumter Boulevard and Price Boulevard in North Port, FL. The site has an average daily traffic count of 23,344 vehicles. Opening is slated for mid 2008. Area demographics include a population of 49,330 within seven miles earning $45,332 as the average household income. The company also is developing Henry Marketplace, a mixed-use center located at the southwest corner of Interstate 75 and Jonesboro Road in McDonough, GA. The center will be located directly across the street from Henry Town Center, an 800,000 sq.ft. multi-anchored power center. Area demographics include a population of 100,676 within seven miles earning $83,876 as the average household income. The site has an average daily traffic count of 164,524 vehicles. For more information, contact Andrew Carlson, The Sembler Co., 5858 Central Avenue, St. Petersburg, FL 33707-1728; 727-384-6000 Ext. 3016, Fax 727-343-4272; Web site: www.sembler.com .
Sandor Development Co. is developing Hull Street, a 15,600 sq.ft. center located on Hicks Road in Richmond, VA. The center will have spaces available of 1,600 sq.ft. to 3,000 sq.ft. Area retail includes a 62,000 sq.ft. Kroger supermarket. Area demographics include a population of 142,035 within five miles earning $63,170 as the average household income. The company also is developing Safeway Plaza, a center located at the intersection of 14th Street and 16th Street in Cottage Grove, OR. Tenants include Allied Cash and Supercuts and spaces are available from 1,200 sq.ft. to 3,775 sq.ft. Area demographics include a population of 14,473 within five miles earning $48,626 as the average household income. For more information, contact Blake Beaver, Sandor Development Co., 2220 North Meridian Street, Indianapolis, IN 46208; 317-442-2743, Fax 317-927-0725; Email: bbeaver@sandordev.com ; Web site: www.sandordev.com . For information regarding Safeway Plaza, contact Jason Haun, Sandor Development Co., 5725 North Scottsdale Road, Suite C-195, Scottsdale, AZ 85250; 480-949-9011 or cell 602-327-6365; Email: jhaun@sandordev.com .
Cedarwood Development, Inc. is developing Easley Town Center, a 530,000 sq.ft. center located on Calhoun Memorial Highway in Easley, SC. The site has an average daily traffic count of 36,800 vehicles. Opening is slated for Spring 2008. Area demographics include a population of 201,000 within 10 miles earning $52,000 as the average household income. The center is situated on a land area of 122 acres. The company also is developing Spring Meadows Place, a 225,247 sq.ft. center located at the northwest quadrant of Interstate 475 and Airport Highway in Holland, OH. Opening is slated for the summer. Area demographics include a population of 225,000 within seven miles earning $68,000 as the average household income. The company also is developing Butler Crossing, a 202,000 sq.ft. center located at the intersection of New Castle Road and Hindman Road in Butler Township, PA. Opening is slated for Fall 2007. The site has an average daily traffic count of 47,000 vehicles. For more information, contact Cedarwood Development, Inc., 1765 Merriman Road, Akron, OH 44313; 330-869-2251, Fax 330-864-8094; Web site: www.cedarwooddevelopment.com .
Sage Cosgray Development is developing Patch Plaza, a center located at the intersection of Cosgray Road and Woodview Way in Hilliard, OH. The center will have spaces available of 800 sq.ft. to 20,000 sq.ft. Area demographics include a population of 94,724 within five miles earning $79,186 as the average household income. Opening is slated for January 2007. For more information, contact Josh Fitzwater, Sage Cosgray Development, 4656 Executive Drive, Columbus, OH 43220; 614-545-1444, Fax 614-545-1444.
Indermuehle & Co. is planning to develop additions for the Sugar Land Town Square in Sugar Land, TX, including an additional 51,000 sq.ft. of high-end retail space, as well the Brazos Town Center at the intersection of U.S. 59 and FM 762 in Brazos, TX. The Brazos addition will include 100 acres of retail space, including restaurants and a movie theater. For more information, contact Indermuehle & Co., 1650 Highway 6, Suite 190A, Sugar Land, TX 77478; 281-240-9090, Fax 281-276-6590; Web site: www.icotexas.com .
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