Anchor Commercial principal Milton Thomas III is overseeing the development and Will Sherrod II, of Anchor, is the exclusive leasing and marketing agent. Sherrod tells GlobeSt.com that the project costs have not been released, but it is a multimillion-dollar project.
The first phase of the project, expected to be completed in April 2009, includes a 66,739-sf, three-story building which consists of ground-floor retail spaces ranging from 1,272 sf to 13,174 sf. Roper St. Francis Hospital will open an outpatient surgery center and associated diagnostics in 2009 on the second floor of the building. The third floor will contain office medical spaces ranging from 1,383 sf to 18,000 sf.
Future phases of the development will include retail and residential space. Leasing efforts for the first and third floors have been started, but no signed leases in place. "We are hoping for a high-end restaurant, some soft goods and a drugstore component," Sherrod says. Although it will depend upon market conditions, plans for the second phase are expected to include 150 to 200 units, which will likely be rentals. The start of construction will also depend on market conditions, Sherrod says.
"The new James Island Center will provide easy access and state-of-the-art care for many of our same-day surgery patients and it will be an important addition to the medical community that has already been established along Folly Road," says Roper Hospital vice president of system development Doug Bowling, in a released statement.
The City of Charleston recently initiated the McLeod Village Plan, which calls for renovations to the entry corridor to James Island. The plan will impact Cross Creek Village with improvements set for Folly Road and the intersection of Maybank Highway, which provides direct access to the development.
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