(For more retail coverage, click GlobeSt.com/RETAIL.)
ALLENTOWN, PA-With a grand opening scheduled for Oct. 27, Memphis, TN-based Poag & McEwen Lifestyle Centers LLC has named a 44-member tenant roster for the 475,000-sf PromenadeSaucon Valley Shops at Saucon Valley. Terry McEwen, president, tells GlobeSt.com the center is now 80% pre-leased."
The property is located near the intersection of I-78 and Hwy. 309 within the 1,700-acre Stabler Center and is being developed in joint venture with Columbus, OH-based Stanbery Development. The anchors are a 73,000-sf, 18-screen Rave Motion Pictures theater, Barnes & Noble, Fresh Market and the state's first LL Bean.
Additional tenants are a mix of national and regional retailers, including Aeropostale, American Eagle Outfitters, Children's Place, J Jill, Lenscrafters, Old Navy, Starbucks, Yankee Candle, Nautica, Wachovia Bank, Sprint Wireless and Lucky Brand Jeans. The center features a Main Street setting that includes two fountains, a gazebo with fireplace and a village green with amphitheater-type seating to accommodate about 400 people for concerts.
The center broke ground 50% pre-leased in April 2005. At that time, GlobeSt.com reported the estimated construction cost at approximately $100 per sf, based on an estimate by a developer of lifestyle retail in Eastern Pennsylvania, who spoke on condition of anonymity. The same source said rental rates were probably within a range of $15 per sf and $19 per sf.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
