X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-The four-year-old, 1.2-million-sf Arbor Place off Interstate 20 in suburban Douglasville, GA will be sporting two new anchors in 2004, according to a published report.

JC Penney plans a two-story, 80,000-sf store. In addition, Rich’s-Macy’s expects to break ground this month on what area brokers tell GlobeSt.com will be at least a 100,000-sf store.

The JC Penney store is expected to come in at a hard cost of about $10 million, based on a $125 per-sf hard construction cost, according to area construction industry estimators. The Rich’s-Macy’s project is estimated at $12.5 million.

JC Penney will be building in the former space occupied by Dekor, a home improvement retailer that closed at Arbor Place in 2001, according to the report.

New shopping center development has slowed, according to a first-quarter market report by Marcus & Millichap Real Estate Investment Brokerage Co. First-quarter vacancy levels in metro Atlanta averaged 9.4%, up from 9.3% at the end of 2002, the report states, and the company projects the vacancy mark will be unchanged for the rest of the year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.