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BOYNTON BEACH, FL-Sunrise-based GL Commercial has broken ground on Canyon Town Center, a $50-million, 200,000-sf retail and office development. The project is rising on the southeast corner of Boynton Beach Boulevard and Lyons Road.

The development will include 150,000 sf of retail space and 50,000 sf of office space in stand-alone buildings and space above the retail space. Prospective tenants include Publix, Walgreens, Starbucks, Wachovia, Bank of America, Hair Cuttery, Ticklepots Children’s Boutique, Rosano’s Italian Restaurant, Carvel Ice Cream, Panera Bread and Dermatology Center of Boynton Beach. It is expected to be completed in 2008.

GL Commercial president Jeff Mooallem tells GlobeSt.com that Publix has signed a lease for 55,000 sf and letters of intent have been signed for the other prospective tenants. Commitments are in place for about 50% of the space. Marketing efforts for the office space have not yet started, but GL anticipates a mix of neighborhood-oriented businesses and lifestyle tenants.

Designed as a Main Street-style shopping plaza, the development will look like a micro-village with a one-acre town green, open plazas, sidewalk cafes, and covered walkways. Future development of an adjacent 85 acres is scheduled to include a park, sports fields, and an elementary and middle school. Mooallem says the site is one of only two commercial sites approved in Palm Beach County’s Agricultural Reserve, a residential area spanning 32 square miles in unincorporated Palm Beach County.

“There is a lot of growth and planned growth west of the Florida Turnpike,” he says. “This is one of only two commercial projects to serve the area.”

According to statistics, approximately 100,000 residents live within a five-mile radius of the project. There are currently 30,000 homes with another 6,500 approved for future construction. “The demographics are good for retail development,” Mooallem says.

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