The retailers that recently signed leases include J.C. Penney, Famous Footwear, Great Clips, Jason's Deli, Justice, Lifeway Christian Bookstore, PetSmart and ProfessioNail.Tenants already lined up include Target, Home Depot, Best Buy, Ulta and the Sports Authority.
A spokesman for Cousins says the property is 87% committed. "That includes signed leases and those in negotiation," he says. "That leaves about 76,000 sf left to fill. We're talking to a number of potential users. As we had toward completion of a center like this, other retailers see the kind of commitments we have, and they get a better sense of the center coming to completion, we'll start to see more interest." The 68-acre site includes expansion space for about 100,000 sf in case the company wants to make future additions, the spokesman says.
The center should be complete this summer and open in the third quarter, the spokesman says. He says he can't comment on the projected lease rate. The local market average retail lease rate is about $14.22 per sf, according to a report by Marcus & Millichap.
Cousins marks its first development entry into the Midwest market with this Kansas City center. The spokesman says he can't say the firm isn't interested in more Midwest projects. "We're always evaluating sites, and we like this market. We just don't have anything ready to announce yet," he says.
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