About 60% of the 230,000-sf shopping center will be demolishedfor the construction of the shopping center, which was once thehome to Goldblatts. A tax increment finance district was created tofacilitate with the redevelopment. About four or five tenants willbe relocated for the Lowe's to be constructed. Relocated tenantsinclude The Avenue and Lee Nails, Spinell says.
Lowe's plans to open in the shopping center in spring 2008. WhenLowe's opens, the shopping center will be about 98% occupied,Spinell says. Other anchor tenants include Harlem Furniture andFactory Card Outlet. The asking lease rate for small retail spacein the shopping center is about $40 per sf, Spinell tellsGlobeSt.com.
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