Royal Lakes Market Place is scheduled to open in fall 2008. Tenants in addition to Kroger will be Great Clips, Georgia Nails and Quality Dry Cleaners with negotiations ongoing with a national coffee retailer, bank and a variety of other goods and service retailers.
Also planned are a 162,000-sf center in Locust Grove, and Madison is planning another 162,000-sf center in Sandtown. Both are scheduled to open in fall 2009. In Cumming, a 162,000-sf center is planned to open fall 2010. Centers with a planned winter 2010 opening include a 162,000-sf center in Cartersville and a 125,000-sf center in Sugar Hill. Plans for each of these centers call for the inclusion of three to five outparcels and a fuel station. "We identify markets with the most potential and fill a need for necessity retail," says Madison Retail principal Charlie Worthen.
In August, Madison completed the 133,700-sf Covington Market Place at the intersection of Salem Road and Kirkland Road in Newton County. The center features Kroger's new larger prototype store with 78,849 sf. The remaining 54,877 sf is small shop space for local goods and service providers.
Several of the other planned centers will also feature Kroger's larger format ranging from 75,000 sf to 112,000 sf. The new prototype will feature an open-air design with wider aisles and brighter lighting without a drop ceiling. Stores will include a floral department, pharmacy, bakery, delicatessen, bank and, in some cases, a Dunkin' Donuts or Starbucks Coffee Co.
"Over the past five years traditional grocery retailers, such as Kroger, have responded to moves by mega-retailers, such as Wal-Mart and Target Corp., to become consumers' one-stop shop for everything under the sun," Worthen says.
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