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OVERLAND PARK, KS-Tri-Land Properties Inc. will start construction in October on its $23 million redevelopment of the 118,000-sf Cherokee South Plaza here. The project is one of five retail centers that the company bought in Kansas in the past three years, totaling about 634,000 sf, all with renovations planned.

The 45-year-old Cherokee Plaza lost a grocery-store anchor soon after the purchase. Since then, Tri-Land has worked with the city to obtain a $3.5 million TIF to help bring in a new Walgreens, as well as adding a 17,000-sf Paul Mitchell Salon and adding more out-lots to the center, says Hugh Robinson, EVP with Tri-Land. He says the grocery building has been demolished, and the site will be redone by summer 2009.

“The occupancy right now is slightly less than 50%, but we anticipate that with six months of completion that we will be stabilized at the property, at 90% to 95% occupied,” Robinson tells GlobeSt.com “This is a Main and Main location, at 95th Street and Antioch, one of the major arteries in the city and very densely populated with middle-families.”

Similar redevelopments are going on at the four other centers, Robinson says. A renovation of the 49,000-sf Devonshire Village in Olathe, KS should be complete by the fourth quarter, he says. A TIF was just approved for the 208,000-sf Brywood Shopping Center in Kansas City, KS, with “a Price Chopper Supermarket expanding there, and a yet-to-be-identified 80,000-sf anchor tenant going in for the second phase,” Robinson says.

Work at the 175,000-sf Ten Quivira Shopping Center in Shawnee, KS isn’t as extensive, but over at the 84,000-sf Blue Springs Market in Blue Springs, Robinson says he’s seeking another TIF. “We hope to have it approved in the fourth quarter,” he says. “We’re working with a former Kmart center, we’re going to subdivide it into smaller boxes. We’ve got a couple of prospective tenants.” The Blue Springs center is shadow-anchored by a Hy-Vee Supermarket that is also going through an expansion.

Robinson says getting a TIF approved in a community is today an essential component in the redevelopment of a center. “You’ve got all the costs, the competition for tenants, and the capital that the property will see once it’s improved, a TIF is now a critical component in the cost of delivery,” he says. “It’s no longer just patching up the parking lot and painting the front façade.”

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