The retailer will occupy 105,000 sf at the 260,000-sf GatewayCentre. CDI declined to release JC Penney's lease rate. Jim Brady,managing partner of CDI, tells GlobeSt.com the developer is innegotiations with another potential anchor tenant but he cannotdisclose the soft goods retailer at this time.
CDI anticipates beginning development on the shopping center 24miles southeast of Nashville in the next few months, he says, withan expected grand opening in September 2009. JC Penney is alsoslated to open its doors in fall 2009. Development costs forGateway Centre will exceed $30 million, Brady tellsGlobeSt.com.
No other retailers have put pen to paper yet on a lease, butBrady adds CDI is finishing up negotiations with two more retailerstotaling 11,000 sf. He cannot release the names until the leasesare signed.
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