Infrastructure Starts for $200M Retail Center

Site work and grading will begin in April, with building construction scheduled to start in September, According to Dan Richards, co-chairman of Colonies Crossroads Inc. of Rancho Cucamonga, which is developing the center with Pacific Development Group of Newport Beach and marketing it through CB Richard Ellis Inc.

A home improvement store, multiplex theater and supermarket will anchor the new 1.1-million-sf center, which has already signed Target, Kohl's, Chick's Sporting Goods, Bed Bath & Beyond, Ulta Cosmetics, LA Fitness, In-N-Out Burger, Vitamin Shoppe, Wells Fargo Bank and Banner Mattress as tenants. The developers expect to announce the names of the home improvement chain, theater and supermarket soon, says Bob Lewis, a partner at Pacific Development.

The project is as an "upscale specialty retail center that is planned to include restaurants, an entertainment component, a promotional center and a neighborhood shopping center component." Phase I, consisting of approximately 550,000 sf is scheduled to open in summer 2004, with the balance of the project slated to open in phases over the following year.

Colonies Crossroads is part of the Colonies at San Antonio, a 434-acre master-planned community, which includes 1,100 single-family homes and more than 60 acres of open space and several miles of trails. KB Home and Standard Pacific are already under construction on 305 units as part of the first phase. The combined value of the overall project is more than $500 million.

According to Tom Swieca of CBRE in Ontario, the project's trade area on the border of Rancho Cucamonga and Upland includes more than 470,000 residents, with additional housing being built at a rapid pace. Average household income within one mile of the project is in excess of $123,000, he says. Swieca, Scott Kaplan and Tony Archer, with CBRE's retail group in Ontario, are the development's listing agents.