The developers, acting as Richmond Centre LLC, have acquired the northwest corner of Interstate 75 and Barns Mill Road. Construction on the $80-million regional center begins this month, Britt Goodson, project manager with Carolina Holdings Inc., tells GlobeSt.com. Jim Kemper, vice president for NAI Isaac Commercial Properties in Lexington, KY represented the JV for the land transactions.
Richmond Centre will break ground with 60% of its class A retail space already preleased, according to Goodson. Anchors Meijer grocery, JCPenney and Home Depot will be separately owned. The anchor lineup includes Belk and Cinemark Theatre.
Quoted rates range from $20 per sf to $30 per sf net for specialty store space and $15 per sf to $20 per sf net for larger spaces, Goodson says. The project includes out-parcels for restaurants, banks and hotels. Pazdan Smith Group Architects Retail Design Studio in Greenville, SC are the architects for this project.
The JV decided to develop a shopping center at the site because the closest existing shopping centers are in Lexington, KY and Knoxville, TN, Goodson says. Carolina Holdings and Crosland had previously teamed up on Providence Marketplace in Mt. Juliet, TN, he says.
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