SMYRNA, TN-Jacksonville, FL-based Capitol Development International has snagged an anchor tenant for its planned Gateway Centre shopping center in this Nashville submarket. The deal brings JC Penney to the retail asset under a 20-year land lease.

The retailer will occupy 105,000 sf at the 260,000-sf Gateway Centre. CDI declined to release JC Penney’s lease rate. Jim Brady, managing partner of CDI, tells the developer is in negotiations with another potential anchor tenant but he cannot disclose the soft goods retailer at this time.

CDI anticipates beginning development on the shopping center 24 miles southeast of Nashville in the next few months, he says, with an expected grand opening in September 2009. JC Penney is also slated to open its doors in fall 2009. Development costs for Gateway Centre will exceed $30 million, Brady tells

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