Royal Lakes, located at the intersection of Highway 53 and Sloan Mill Road, will feature a 70,225-sf Kroger, 49,267 sf of retail shop space and four outparcels. Leases have not been signed yet, but negotiations are under way with a national coffee retailer, bank and a variety of goods and service retailers for all but 48,000 sf of the space and the four outparcels.

Construction is expected to begin in May with a projected opening in fall 2008. "We don't like to sign a lot of leases until the center has taken shape," Madison Retail principal Charles Worthen tells GlobeSt.com.

The neighborhood surrounding the Royal Lakes has a country club and golf course community. It is also close to Gainesville State College, Chateau Elan, Road Atlanta and the Atlanta Falcons training camp. Within five miles of the site, the population has grown by more than 22% and the average household income is $57,000.