32 replies to this topic

[asonj23]

Avenue's Walk Update


Jacksonville's newest lifestyle center is now under construction and tenants are now starting to roll in.





So far tenants include a mix of big box anchors, hotels and retail shops.  Names released include a 60,000 square foot Forever 21, Walmart, Haverty's, Mikado Restaurant, Hyatt Place, Summerfield Suites and potentially an HH Gregg.  If HH Gregg comes, it will be the Indianapolis-based chain's first store in the Jacksonville area.






Avenue's Walk is located adjacent to the FEC rail line between Avenues Mall and Interstate 95.  The 586,495 square foot shopping center's location makes it an ideal spot for commuter rail station, if it ever operates along the FEC corridor.

[Spartan]

Gotta say, I have mixed opinions on this. I am glad that jax is getting something "semi" urban that isn't East/South of 9A

[asonj23]

The best thing about it is its proximity to the rail corridor.  If teh comuter rail plan that so many of us here in Jax are pushing for happens, it will make an ideal transit stop location.  There is plenty of room for more pedestrian friendly housing and retail to cover the current parking lots as well as room for park'n'ride facilities.  it could potentially become something much much better.

As it sits now, its nothing impressive.  Just another big developer attempt at building the next great "Lifestyle Center" which is simply a glorified strip mall.  

Its still a good sign that there are so many of these things going up in the region.  The market conditions can't be THAT bad.  

[Florida]

Thanks for the UPdate asonj! Don't you think that's a fairly LARGE Forever 21 store? Will it be an outlet store perhaps? I like the fact that HHgregg is planting its feet there... Tallahassee's store is almost under construction and should open soon... so I've given them a little attention lately and they seem like a viable alternative to Best Buy and Circuit City. Are you a little surprised that the developer's rep would release information on the Tenants in negotiations before the deals are final? That seems a bit risky don't you think?

[asonj23]

Florida, on Mar 14 2008, 02:26 PM, said:

Thanks for the UPdate asonj! Don't you think that's a fairly LARGE Forever 21 store? Will it be an outlet store perhaps? I like the fact that HHgregg is planting its feet there... Tallahassee's store is almost under construction and should open soon... so I've given them a little attention lately and they seem like a viable alternative to Best Buy and Circuit City. Are you a little surprised that the developer's rep would release information on the Tenants in negotiations before the deals are final? That seems a bit risky don't you think?

Honestly, not being much of a shopper, I've never even heard of Forever 21 or HHGregg but everyone seems to be excited about them.  I would think that the there would have to be some sort of contract pending for the developers to announce the major anchor tenants.  Construction is well underway so there must be something in writing the would allow them to move forward with groundbreaking.

[Florida]

A developer can build retail without a committed tenant, but without a completed transaction (lease or sale) it would seem almost risky to publish tentative retailers who may decide at the last second to pull out of the deal. It still puzzles me that Forever 21 (clothing store) would be larger than an HHgregg (electronics and home appliances).

[asonj23]

You're right, they can move forward at their own risk, however, major anchor tenants often have a very specific development guidline which would require coordination between them and the developer to make sure that the space fits their needs.  Its very hard to build a large tenant space and hope that someone will come along and make it work.  That's why I'm led to believe that there is a pretty solid contract in the works.

[Florida]

I'd agree. And you know, when you take a second look at the maps above, it would appear that the first map (aerial) was probably generated a good time before the second (project site plan). I like the fact that this development is getting a Hyatt Place hotel also. Is there one in the Jax area already or will this be the first?

[asonj23]

There are a few Hyatt's around but I'm not sure if this is the first Hyatt Place or not.

Also, you're right.  The aerial shot is a few months old.  The overpass into the site is nearing completion and much of the infrastructure is well underway.  We should start to see vertical construction soon.

[Florida]

How do you feel about this property being tucked behind all of those other buildings on Philips Avenue. Just looking at the aerial its hard to see if the existing buildings along Philips are attractive, and would compliment this new development or vice/versa. Any chance the prospective retailers will be additional Outlet Stores?

[asonj23]

I'm not to keen on the fact that the development is tucked behind the others along Phillips.  Those properties are not very attractive at all.  It seems that this development will get most of its attention from I95 which is frequented by 10's of thousands of locals and visitors daily.  The parcels along Phillips will like be bought up and redeveloped eventually, especially if we are successful at getting a commuter rail system up and running through that area.

[Florida]

How close is the commuter rail to reality?

[asonj23]

Its being studied right now.  If it moves forward from here... probably 5-7 years?

[Florida]

Ah... ok.

Is the area around Avenue's Walk densely populated?

[asonj23]

It is not very dense right now but is a destination point along the rail line that connects DT Jax to St. Augustine and points south.  Commuter rail makes the most sence because of the development trends along the rail corridor.

[Florida]

Gotcha.

[nanaaapl]

I am disappointed with HH Gregg coming.  They have terrible customer service.   They sold us a faulty stove (which almost killed me btw) and it the didn't handle that situation as well as they should at all.  This all happened 12 years ago so I hope that the customer service is a lot better than it was back then.  This is just my little opinion.

[asonj23]

I passed by one of their vans on the highway this morning.  I wonder if they are already starting to move in equipment.

[gradco2004]

asonj23, on Mar 19 2008, 07:41 AM, said:

I passed by one of their vans on the highway this morning.  I wonder if they are already starting to move in equipment.

Yes. The Regency location opens next Wednesday or Thursday. It is located next to Lowe's.

[Florida]

nanaaapl, on Mar 19 2008, 12:42 AM, said:

I am disappointed with HH Gregg coming.  They have terrible customer service.   They sold us a faulty stove (which almost killed me btw) and it the didn't handle that situation as well as they should at all.  This all happened 12 years ago so I hope that the customer service is a lot better than it was back then.  This is just my little opinion.

I'm looking forward to the HHgregg so I hope their service has improved!

nan... do you mind telling how your stove almost killed you?