Located at the southwest corner of Jefferson Street and Fred Waring Drive, Jefferson Square "will provide much-needed retail services" to its market area, according to J. Scott Fawcett, president of Marinita Development Co. Fawcett describes the shopping center's trade area as an under-served, dense residential area including affluent country club and single-family home communities.
Fawcett points out that a population of more than 93,000 lives within a three-mile radius of Jefferson Square, with an average household income in excess of $70,000. Within a mile of the new shopping center, average household income is nearly $90,000.
"It's a high traffic signalized intersection with more than 43,000 cars per day passing by," Fawcett says of the Jefferson Square site. Shop space and a 4,500-sf pad remain available for lease at the center, which is one of eight Southern California projects in various planning stages by Marinita, which has three retail centers under construction in the region.
The three projects under construction include the Shops at Sycamore Creek, a $42 million, 94,000-sf shopping center anchored by a Vons "Lifestyle" supermarket, Vons' Fuel Station and a CVS/pharmacy in Corona that is approximately 80% leased and is slated to open in mid-October.
The two others are Orangewood Centre, a 26,400-sf retail convenience center in Riverside that is anchored by Kragen Auto Parts, Firestone Tires and 7-Eleven; and Golf Center Square, a 17,000-sf retail convenience center in Indio that is anchored by Parkway Spirits and Market. Orangewood Centre is set to open in September, and Golf Center Square was recently completed.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.