"We were attracted to the site because of the dynamics of that intersection," Kevin Schuck, director of leasing for the project, known as the Shoppes at Gilbert Commons, tells GlobeSt.com. "We think it is placed for success because of the growth that is occurring to the south."
Renaissance Cos., which will serve as general contractor on the project for developer Newquist Ault Commercial Properties, recently broke ground on the 30-acre parcel. The project, designed by Scottsdale-based architects Kurt D. Reed & Associates, is slated to be completed around October 2003.
Schuck said several tenants have already signed up for the project, including Kohl's, which will take 86,586 sf for one of its first Arizona locations. Denver-based Sportmart will open its third Arizona store in 35,000 sf. A Dress Barn and Mattress Firm also signed on as tenants along with Compass Bank, which will be located on a freestanding pad. Two other major anchors are also planned for the development.
Schuck said the project, strategically located near Route 60, will serve the commercial void between the Fiesta Mall, located to the north and the Superstition Springs Mall, situated to the east. In-line space is expected to lease in the upper $20 per sf range, Schuck said.
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