The retailers that recently signed leases include J.C. Penney,Famous Footwear, Great Clips, Jason's Deli, Justice, LifewayChristian Bookstore, PetSmart and ProfessioNail.Tenants already linedup include Target, Home Depot, Best Buy, Ulta and theSports Authority.

A spokesman for Cousins says the property is 87% committed."That includes signed leases and those in negotiation," he says."That leaves about 76,000 sf left to fill. We're talking to anumber of potential users. As we had toward completion of a centerlike this, other retailers see the kind of commitments we have, andthey get a better sense of the center coming to completion, we'llstart to see more interest." The 68-acre site includes expansionspace for about 100,000 sf in case the company wants to make futureadditions, the spokesman says.

The center should be complete this summer and open in the thirdquarter, the spokesman says. He says he can't comment on theprojected lease rate. The local market average retail lease rate isabout $14.22 per sf, according to a report by Marcus &Millichap.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.