BISMARCK, ND-The Woodmont Company of Forth Worth, TX, has secured the pre-commitments necessary to break ground for Pinehurst Square, a 520,000-sf shopping center here at Interstate 94 and Tyler Parkway. Set to start this summer, the project will be anchored by a 156,000-sf Lowe’s Home Improvement Warehouse and a 96,000-sf Kohl’s department store.Woodmont investment partner David Hutchinson says the 51-acre development also will include six mid-sized national box tenants, and an additional 50,000 sf of local side-shop space. Lowe’s and Kohl’s are tentatively scheduled to open in late summer 2005. The mid-sized box spaces will be developed in future phases.The development will be the largest retail development to break ground in the City of Bismarck in as long as anyone can remember. Moreover, it will be “the only significantly sized center anywhere along the Interstate within the city of Bismarck,” says Hutchinson.Woodmont is a privately held real estate service firm that deals in the development, investment, management and brokerage of retail, office, industrial and land. Hutchinson says the company initially became interested in a development project in Bismarck after it observed a few national tenants that it works with moving into the Dakotas. Woodmont is acquiring the land for the development from Pinehurst Properties. Pinehurst Properties principal Jennifer Anderson tells GlobeSt.com that she wanted to keep some of the out lots and ground lease it to a user, but the deal “didn’t work out that way.” Both parties declined to discuss price paid for the land. Sources at the City of Bismarck tell GlobeSt.com that there has not yet been a transfer of ownership.

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?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2024 ALM Global, LLC. All Rights Reserved.