(For more retail coverage, click GlobeSt.com/RETAIL.)
CUMMING, GA-The Sembler Co. has begun another development in the Atlanta area with the groundbreaking of Cumming Town Center. The 300,000-sf, multi-anchored retail center is rising at the northeast corner of Buford Dam Road and Georgia 400, along the extension of Marketplace Boulevard.
A company spokeswoman tells GlobeSt.com the total construction cost is $75 million and the center is approximately 50% preleased. Set to open next summer, Cumming Town Center's tenant roster will include Dick's Sporting Goods, Best Buy, Ulta, Petco, TJ Maxx, Staples, Homegoods and Old Navy. Restaurants, small shops and other neighborhood services will round out the list, according to the St. Petersburg, FL-based developer.
Cumming Town Center will be adjacent to the developer's recently completed 300,000-plus-sf retail center anchored by BJ's, SuperTarget, Bed Bath & Beyond, and Ross Dress for Less. The population within three miles of the property is 22,851, with that figure jumping to 51,610 within five miles and to 93,484 within seven miles. The average household income within three miles is $83,247, increasing to $90,224 within five miles and to $95,067 within seven miles, according to the company's website.
Other Sembler projects in Georgia include Perimeter Place in Atlanta, a 452,000-sf multi-anchored mixed-use development; Canton Marketplace in Canton, a 800,000-plus-sf shopping center set to open in fall 2008 in the heart of a major development that will include a regional hospital, office and residential; and Henry Marketplace in McDonough, with approximately 500,000 sf of retail space along with office and residential units set to open in fall 2007. Henry Marketplace is rising across from the 800,000-sf Henry Town Center, which Sembler completed in 2002.
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