"This is one of the most exciting new mixed-use projects coming on-line in the Bronx today," says Ken Bernstein, president of Acadia, in a statement. "Fordham Place seamlessly synthesizes high design and cost-effective floor layouts with an unsurpassed location in terms of its incredible accessibility, high levels of foot traffic and excellent workforce."

At full build out Fordham Place will encompass 160,000 sf of office and 100,000 sf of retail on the 14 floors. The project is expected to be completed sometime next year and is situated across from Fordham University's Rose Hill campus and near the Bronx Zoo and New York Botanical Gardens.

Sears, department store, which currently has a located at the eastern part of the Fordham Road retail corridor, has signed on to anchor tenant the new development. Walgreens and a number of other local retailers have also already signed on to the project, which currently has lease agreements to about 93,000 sf of the 100,000 to be built. Acadia is handling the leasing for the project.

For the office component floor plates will vary in size from 8,000 sf to 28,000 sf. The building will also have a 24-hour concierge and turnstile security with swipe card access. GVA Williams' Robert Freedman, Alexander Jinishian, Harry Blair and Greg Wang have been named the exclusive leasing agents for the office portion.

"This important redevelopment project will insure the continued vibrancy of this flourishing Bronx business district," says Freedman. "Fordham Place is exquisitely positioned to provide Class A office product to areas that have been significantly underserved. We are delighted to play a major role in promoting this project."

As reported by GlobeSt.com Acadia is also constructing a 1.6-million-sf mixed-use tower in Brooklyn. MacFarlane Partners is partnering with Acadia on that deal.