The neighborhood center, expected to open in the fall, willinclude a CVS/pharmacy, a freestanding bank, restaurant andapproximately 8,400 sf of retail shop and office. MetroGroup, whichis a preferred developer of CVS/pharmacy, acquired the site inDecember for an undisclosed amount. A spokesperson from MetroGroupDevelopment tells GlobeSt.com that the project costs have not yetbeen determined. Atlanta-based Branch Properties will be handlingleasing for the project, but apart from CVS/pharmacy, no othertenants have yet signed for the project.

The development is adjacent to Barnes Mill--a 200-acre,master-planned village with plans for approximately 450single-family homes--in an area of West Cobb County experiencingmuch growth. "While growth in East Cobb County has slowed over thepast decade, new residential havens continue to dot West CobbCounty," says MetroGroup Development partner Mark Gottlieb, in aprepared statement. "It is these new residents that are seekingconvenience retail and eateries close to home."

With its population expected to exceed 185,000 by 2011, thefive-mile trade area around the development experienced a 30%growth rate from 1990 to 2006. With Cobb County experiencing thesecond highest per capita income in the metropolitan Atlanta area,the 2006 estimated average household income for the area around thedevelopment topped $65,000. "Explosive population growth continuesto create demand for quality, convenience retail and diningenvironments," Gottlieb says.