The center, in the Southlake Mall commercial market, will front Mt. Zion Road and include a mix of restaurants, shops and services. Bill Dyer, a Riverwood partner, tells GlobeSt.com most of Riverwood's properties feature a mix of 35%-40% restaurants (full-service and fast-food), with the rest retail.
Don't look for another Publix or Kroger, however. "We've never done a grocery store," says Dyer.
Construction is scheduled to begin in the first two weeks of December with completion set for May. While Riverwood has not set an official opening date, Dyer says that some tenants could be ready business by May 15. Morrow officials have reviewed the plans, but no permit has been issued yet.
Mt. Zion Promenade will be built on the front three acres of a 5.31-acre parcel Riverwood owns. Riverwood will either sell the undeveloped back portion or develop it on its own.
The site, formerly occupied by a Honda dealership, has been vacant since early 1999. Nearby retailers include Home Depot, Costco, Target, Toys 'R' Us, Publix, Old Navy, Staples and Best Buy.
Riverwood focuses on small retail center development and owns or manages 24 properties in metro Atlanta, including Towne Lake Commons (15,050 sf) in Woodstock, Peachtree City Promenade (18,467 sf) in Peachtree City and Sandy Springs Promenade (8,500 sf) in Atlanta.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
