At least 30 tenants are taking 120,000 sf out of 466,619 sf of rentable space in the 33-acre redevelopment of the former Parkway City Mall site in Huntsville, AL.
GlobeSt.com couldn't reach officials at CBL or its joint venture partner,Birmingham, AL-based Colonial Properties Trust, to learn the development cost of the project, the amount of space each tenant is leasing or the average asking rents. But area brokers and construction industry estimators tell GlobeSt.com on condition of anonymity the venture's hard cost is about $80 per sf or an estimated $37 million for the entire undertaking.
Area brokers put the average asking rent at $12 to $15 per sf. The property is at the intersection of U.S. 231 (Memorial Parkway0 and Drake Avenue in the southeast section of Huntsville.
Dillard's Department Store at 180,000 sf and Parisian at 167,000 sf are the anchors. Other signed national tenants, entering the Huntsville market for the first time, are Williams-Sonoma, Abercrombie & Fitch, Hollister, Banana Republic, Gap/Kids/Baby, Finish Line, Sam Goody/Musicland, Malibu Cajun Grill and China Max.
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