The 45-year-old Cherokee Plaza lost a grocery-store anchor soonafter the purchase. Since then, Tri-Land has worked with the cityto obtain a $3.5 million TIF to help bring in a new Walgreens, aswell as adding a 17,000-sf Paul Mitchell Salon and adding moreout-lots to the center, says Hugh Robinson, EVP with Tri-Land. Hesays the grocery building has been demolished, and the site will beredone by summer 2009.
"The occupancy right now is slightly less than 50%, but weanticipate that with six months of completion that we will bestabilized at the property, at 90% to 95% occupied," Robinson tellsGlobeSt.com "This is a Main and Main location, at 95th Street andAntioch, one of the major arteries in the city and very denselypopulated with middle-families."
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