Rivals Simon Property Group of Indianapolis and CBL & Associates Properties of Chattanooga, TN have previously indicated they also are planning new centers in the Henry County location, a retail hub newly discovered by developers.
Cousins' Henry County undertaking would follow its successful development of the 210,000-sf Avenue West Cobb on Dallas Highway in Cobb County, now about 70% leased with 22 tenants ready to open their doors this fall. The Atlanta-based developer introduced Avenue in East Cobb in 2000 and Avenue Peachtree City in 2001.
Area retail investment brokers familiar with Cousins' retail development plans tell GlobeSt.com that the developers' centers are generating at least $250 per sf in annual sales.
CBL has an option to buy 200 acres at the southwest corner of I-75 and Bethlehem Road in Henry County. Simon Property Group has a similar option on a 150-acre tract off I-75 at GA 20.
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