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ALLEN, TX-Cencor Realty Services Inc. is developing an $8-million, mixed-use project on a seven-acre tract bought at year’s end 2006. The groundbreaking has yet to be set for the 35,400-sf unnamed development, but the seed has been planted with a two-acre sale to national daycare chain, Goddard Systems Inc. of King of Prussia, PA.

Cencor’s newest project is one of three retail corners at the intersection of Angel and Exchange parkways. The site abuts a new elementary school plus it has a 3,600-sf Chase Bank on its doorstep, according to Jared Caplan, vice president of development for Dallas-based Cencor. He and David Palmer, the firm’s executive vice president, are fee-developing the site for a Dallas-based partnership.

Caplan tells GlobeSt.com that talks are under way with retailers for nearly half of project’s 17,000-sf strip center. Goddard is expected to break ground within three months on its 9,600-sf school, which will sit at the rear of the center. The build-out plan includes 8,800 sf of multi-tenant office space. Preleasing the project are David Schnitzer, Marshall Ballard and Ryan Richardson, all with the Weitzman Group, Cencor’s affiliate.

The center’s bricks-and-mortar work won’t begin until deals are in hand. “This is a tenant-driven development,” Caplan stresses. “We are working to custom develop this for users.” With a Wal-Mart Neighborhood Market across the street, the retail strategy is aimed at providing neighborhood services like salons, spas and restaurants.

Caplan says Cencor will complete the site work as Goddard’s school is built so dirt can be ready for vertical work as soon as retailers’ letters of intent become signed leases. An eight-month construction schedule has been factored into the plan, with the tentative goal to open doors in 2008.

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