Stiles Retail Group and developer Jeffrey Conn's Hallmark team plan to break ground in September on their second Jacksonville community retail project, the $8 million, 67,521-sf Deerwood Lake Commons at the southwest corner of Southside Boulevard and Touchton Road. The project is being built at $118 per sf and is expected to open in July 2003.
Hallmark-Stiles Ventures also has started St. Johns Commons, a 71,352-sf community center with an estimated construction cost of $5.35 million or about $75 per sf. The retail center is expected to open in first quarter 2003.
At Deerwood Lake Commons, the joint venture partners already have signed Lakeland, FL-based Publix Supermarkets Inc. to a 20-year, 44,271-sf lease, leaving only 23,250 sf left to rent.
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