Newman Development Group is in due diligence to purchase of the property. The site is owned by Staats Corp., which is asking nearly $7 million for the land. The site is a prime retail location, with high visibility from Highway 22 and proximity to Interstate 5.

The property has many development advantages. It's flat and zoned for commercial or industrial uses. A retail development would not require approval from City Council or the planning commission.

However, the state Department of Transportation is apparently not in favor of an extension of Hawthorne Avenue, which would be the most direct access from Highway 22. Instead, shoppers would get to the proposed 350,000-sf center from Turner Road.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.