which had beenestimated

The partnership expects to break ground early next year on thedevelopment. The project includes about 1.7 million sf of retail,including big-box stores, restaurants and upscale small shops. Thecenter will additionally have a 75,000-sf Regal Cinemas, aspreviously reported by GlobeSt.com. Regal Entertainment Group,based in Knoxville, TN, has a long-term lease for the property witha term between 15 to 20 years for a movie theater with between 16to 18 screens and at least 3,000 seats, Safady says.

Regal is the only tenant the partnership is announcing at thistime, but approximately 70% of the space is committed and thepartnership is in negotiations with two department stores, he tellsGlobeSt.com. The asking lease rate range for the retail is between$30 per sf and $80 per sf, Safady says. The center is expected toopen in 2010. The Chicago office of CB Richard Ellis, O&SHoldings and Strategic Retail Development are handling the retailleasing.