LOUISVILLE—Evidence of a continuing economic recovery keeps mounting in the world of retail. GBT Realty Corp., for example, a national real estate development company based in Brentwood, TN, has just brought two of its newest regional shopping centers to more than 90% leased, even though construction is still underway. Jefferson Commons and Middletown Commons have a combined 500,000-square-feet and only 23,500-square-feet of retail space remains, company officials say. The first tenants will open for business in November.
“With exceptional visibility from and accessibility to major transportation routes, both Jefferson Commons and Middletown Commons are ideally situated to be a part of Louisville's retail boom,” says George Tomlin, president and chief executive officer of GBT Realty. “The Louisville area has evolved into an attractive place for retail development as evidenced by our combined investment of over $100 million for these two regional centers, plus an additional $20 million in nearby Elizabethtown.”
As reported in GlobeSt.com, GBT has also leased more than 90% of the Elizabethtown project. The company has completed much of the site work there and launched construction on the 126,000-square foot development, called Woodland Commons, which it acquired from Woodland Partnership in July.
“Further proof are the solid tenants we secured for both neighborhood centers,” adds Tomlin. Academy Sports + Outdoors, Five Below, Mattress Firm, Men's Wearhouse, Hancock Fabrics and Avalon Nails will soon open at Jefferson Commons. Furthermore, Five Guys, Firehouse Subs, Qdoba and Chick-fil-A will provide casual dining options. Located just minutes from I-65, I-265 and the Louisville International Airport, the 230,000-square foot retail center also features: H.H. Gregg, Liquor Barn, Shoe Carnival and Michael's Arts and Crafts.
Middletown Commons has added Academy Sports + Outdoors, Five Below, Rue 21, AT&T and Avalon Nails to its goods and services line-up. Chipotle, the Comfy Cow, Firehouse Subs, Boombozz Pizza and Taphouse, Blaze Pizza and Tazikis Mediterranean Café join Chick-Fil-A and Texas Roadhouse as restaurant options at this 240,000-square-foot center. Previously announced tenants include: Hobby Lobby, Ross Dress for Less, Liquor Barn and Rack Room Shoes.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
