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SAN JOSE, CA-A 360,000-sf power center is under development here by Cousins Properties Inc., an Atlanta-based REIT that says it is expanding its Western states retail development pipeline. Company officials say the project, called San Jose MarketCenter, is 80% committed and should open in about 11 months. The $80-million endeavor is occurring adjacent to Downtown San Jose on 34 acres of former rail yard at the intersection of Coleman Avenue and Taylor Street. The property is near San Jose International Airport, Santa Clara University, and less than one mile from both Highway 87 and Interstate 880.The power center will be anchored by Target, Marshall's, Cost Plus, Michael's, PetsMart and Office Depot. Target will own its 140,000-sf store. The center also will contain 16,500 sf of inline shops and up to 14 outparcels that will line the periphery and be leased to restaurants, financial institutions and others. With many retailers searching for opportunities to establish an urban presence, Cousins retail division president Joel Murphy says this type of infill development is "exactly the type of opportunity we want to pursue. It features a high-barrier-to-entry location, access to a growing population base and a supportive local economic development effort." Bob Manarino, Cousins' Western region retail director, says assembling the site was complex but should be "well worth the effort" based on early retailer response. A number of residential developments have already been completed in the area and more are under construction or in the pipeline, he says, "which is quickly building a critical mass and an affluent population base in downtown San Jose."Nadell Architects of Costa Mesa, CA, is the project architect. San Jose-based BKF is the site engineer and San Jose Construction is the general contractor. The development will take Cousins' retail portfolio to about 3.5 million sf, which is about half the size of its office portfolio. The company also has 2,000 acres being held for future sale or future development.