SMYRNA, TN-Jacksonville, FL-based Business Condos USA and Memphis-based Malco Theatres will develop the Shops at Sam Ridley, a 131,600-sf retail condominium development. The project will also contain a 14-screen Malco Theatre on a 25-acre site at Wolverine Trail and Genie Lane.

Business Condos USA president Larry Walshaw tells GlobeSt.com that groundbreaking is anticipated in late spring with the project expected to be completed in spring 2008.

The project will feature space that is for sale and for lease. The sale rates will range from $210 to $250 per sf and the lease rates will range from $21 to $26 per sf. Walshaw anticipates that firms that buy space will be smaller, more local companies and those that lease space will be from larger, more national companies. Among potential users of the space are restaurateurs, medical companies, insurance, day spas, jewelers and others, he says.

"We feel we have the right product, at the right time and at the right location," Walshaw says. "This is one of the fastest growing areas of the Greater Nashville area. We see this as an area that will continue to grow."

The theater will be connected to the retail condominiums by Austin Lee Drive. "We will develop the site with a joint grading plan involving road work and elevation changes," says Malco Theatres vice president of operations Jim Tashie. "The center and theater complex will be very attractive and in keeping with our upscale design and elaborate interiors and landscaping."