The Windemere Village project is ramping up with a 4,000-sf lease to Pei Wei Asian Diner, which signed a 10-year contract for end-cap space. The shopping center, which includes a "for sale" pad site, will cost about $4 million to develop, David K. Meyers, senior vice president of NewQuest Properties, tells GlobeSt.com. He and NewQuest's Dean Lane, director of brokerage and development, are developing Windemere Village along with Randy Wile, owner of the locally based Wile Interests. The project will deliver in August.
Meyers says a southwestern-style restaurant chain is negotiating for the other end cap in a project intended to be a third phase for NewQuest's Eldridge Town Center, a 144,500-sf development anchored by Kroger, Petco and Kohl's. The team has brought the project to market with a lease rate of $24 per sf annually.
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