FORT WAYNE, IN-Thompson Thrift is building Lima Marketplace here, a more than 100,000-sf retail center that is shadow-anchored by a new Wal-Mart going up at the intersection of Lima and Dupont roads. Office Depot and PetSmart recently signed leases for 20,828 sf and 20,087 sf, respectively, at the new $16 million center.

The center will also include a 12,000-sf Zeals store, a Dollar Tree concept, says Paul Thrift from Thompson Thrift. He says negotiations are ongoing for the other half of the center. The property will also include five outlots, with leases so far signed with Sherwin-Williams, Arby's and a Verizon Wireless dealer. The asking rate for the available space is $20 per sf, Thrift tells GlobeSt.com.

He says there's great traffic on Lima Road, promising many customers for the center. “This is really Fort Wayne's fastest growing area as far as housing starts, it's a terrific trade area,” Thrift says. The center should be finished and open by spring 2008. Another six acres to the south will be considered for an expansion of up to 50,000 sf, he says. “We hope to start working on the expansion as soon as next year, depending on how leasing efforts go,” Thrift says.