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RICHMOND, KY-Three retailers have signed leases, totaling 62,500 sf, for Richmond Centre, an 800,000-sf development on 120 acres along Interstate 75. The $80-million project is being developed by Carolina Holdings Inc. of Greenville, SC and Crosland Inc. of Charlotte, NC.

Richmond Centre also will have two hotels on 15.5 acres and 60,000 sf of office, says Charles Thrift, senior leasing associate for Crosland. The development is going up at the interstate’s junction with Barns Mill Road.

T.J. Maxx has preleased 25,000 sf. Hastings Entertainment took 22,500 sf for its store, which sells new and used CDs, books, videos and video games. Dawahares, a clothing chain with 25 stores in Kentucky, Tennessee and West Virginia, preleased 15,000 sf. The terms of the leases were not disclosed, but Thrift says “we would not do an anchor lease for less than 10 years.”

Thrift tells GlobeSt.com that Richmond Centre is now 79% preleased. Quoted rates range from $22 per sf to $26 per sf net for boutique store space and $12 per sf to $15 per sf net for larger spaces, he says.

Belk and Cinemark also have preleased space. Meijer grocery, JCPenney and Home Depot bought sites to develop. The first retailers are expected to open in October, according to Thrift.

Thrift says the closest shopping centers are Lexington, KY and Knoxville, TN. “It is the largest regional shopping center under construction in Kentucky right now,” he says. “The size creates a draw that really creates its own trade area.”

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