Alabama Retail Development Atmosphere

[TRoberts]

http://www.al.com/news/birminghamnews/inde....xml&coll=2

Read the bottom of the article where it says that Colonial confirms that it is going to be a Super Target.

Yeah, it was typo, I meant Tannerhill. I didn't think that the Birmingham market was getting anymore Super Targets either until reading that article.

That's odd. I wonder if the Birmingham News has made a misprint in the article. Every site plan that exist on Colonial's own website quotes 127,000 sq. ft. for the Target store. The "Coming Soon" signs at the development itself even state Target, not SuperTarget.

Guess we'll just have to wait and see on that one.

[dimebag1980]

That's odd. I wonder if the Birmingham News has made a misprint in the article. Every site plan that exist on Colonial's own website quotes 127,000 sq. ft. for the Target store. The "Coming Soon" signs at the development itself even state Target, not SuperTarget.

Guess we'll just have to wait and see on that one.

SuperTarget stores are generally between 170,000-180,000 sq. ft. Newer, regular Target stores are typically between 120,000-135,000 sq. ft. A couple years ago the Texarkana, TX, newspaper reported their new Target store as a SuperTarget and mislead the public. The same just happened in Bossier City, where the Shreveport Times is calling a regular Target store a SuperTarget. They're leaving 30,000 sq. ft. of space to the side so they can expand into a SuperTarget in a couple of years, but right now the newspaper is misleading the public. This seems to happen a lot, in many different markets.

[Southron]

Time to dig up this thread again...

Construction of the 800,000 square-foot Bass Pro retail complex -- to include car dealerships, restaurants, a hotel and apartments -- resumed Monday, after a delay of more than a year.

Without any further delays, construction in Spanish Fort is expected to be finished by the end of 2008.

Mobile Press-Register: After delay, Bass Pro construction resumes

[DruidCity]

That article made my day. The Bass Pro in Spanish Fort is about a mile from my rental condo in Daphne that I'm

hoping to sell. Getting that center open is bound to help my cause.

[TRoberts]

http://blog.al.com/spotnews/2007/04/summit...e_flagship.html

Well it looks like it's finally settled between Belk and Bayer Properties. According to the article, Belk has agreed to turn the Summit Parisian into one of two new Flagship stores to join their Southpark location (they are also changing Phipps Plaza into a Flagship).

In a completely seperate decision (according to the article), Belk is expanding the store by 50,000 sq. ft. which will make the location 170,000 sq. ft. overall.

I think this will help to continue pushing The Summit in the direction they are seeking with higher and higher end stores. I know a lot of people hesitate to accept Belk at the Summit but I think this is definitely a step in the right direction.

[Southron]

EastChase expansion to include Costco

Costco will open a 148,000 sq. ft. Montgomery store this fall in the new EastChase Market Place, which will add 500,000 sq. ft. to the center. Five to seven new to the market mid-box retailers are expected to be added as part of this expansion.

Montgomery Advertiser: Warehouse retailer coming to EastChase

[nitek_of_mobile]

I wonder if Costco will develop a store near Eastern Shore Centre in Spanish Fort.

[TRoberts]

Well Belk today confirmed what I think most people already assumed would happen (although in a slightly different manner).

Belk has announced that they are vacating the actual Belk store at the Galleria in order to assume a location in the upper level only of the old McRae's anchor spot and also rebrand the Parisian anchor spot to the new main Belk.

I assumed Belk would keep two stores at the Galleria although I never imagined they would make the second store in the old McRae's anchor.

Pizitz Management is still seeking an occupant for th downstairs floor of McRae's building and would like to get a single occupant there (64,000 sq. ft). That kind of narrows down significantly who you can look for to occupy that space.

On the other end of the mall, the current Belk location is most likely going to be bought by mall owner General Growth Properties with securing another anchor in mind. Of course (as the article mentions), Nordstrom and Dillards are the names passing around retail circles. The article also mentions that if a full scale anchor can not be secured, General Growth may look at reevaluating the spot for other uses.

Belk to move, open 2nd Galleria Store

[Alabadrock]

<br />Well Belk today confirmed what I think most people already assumed would happen (although in a slightly different manner).<br /><br />Belk has announced that they are vacating the actual Belk store at the Galleria in order to assume a location in the upper level only of the old McRae's anchor spot and also rebrand the Parisian anchor spot to the new main Belk.<br /><br />I assumed Belk would keep two stores at the Galleria although I never imagined they would make the second store in the old McRae's anchor.<br /><br />Pizitz Management is still seeking an occupant for th downstairs floor of McRae's building and would like to get a single occupant there (64,000 sq. ft). That kind of narrows down significantly who you can look for to occupy that space.<br /><br />On the other end of the mall, the current Belk location is most likely going to be bought by mall owner General Growth Properties with securing another anchor in mind. Of course (as the article mentions), Nordstrom and Dillards are the names passing around retail circles. The article also mentions that if a full scale anchor can not be secured, General Growth may look at reevaluating the spot for other uses.<br /><br /><a href="http://www.al.com/news/birminghamnews/index.ssf?/base/news/1179821713149350.xml&amp;coll=2" target="_blank">Belk to move, open 2nd Galleria Store</a><br />

<br /><br /><br />

Sounds like a good idea to me. Putting in the spa and salon, and what not, makes it more appealing. Of course this also means more foot traffic. Ugghhhh.......

[nitek_of_mobile]

Just subdivide the lower level into in-line tenant space. I'm sure many national and regional retailers would love to have space in the Galleria.

[TRoberts]

I keep hearing rumors of a large scale retail development in the Leeds/Moody area (besides the previously announced Grand River and Bass Pro Shops development) that include the likes of Publix, Target, etc. I'm hearing similar tenant mixes as what is seen in Colonial developments in Trussville, Fultondale, Alabaster and McCalla.

Has anyone heard anything similar and if so exactly which exit is being looked at? Will it be Exit 140 with Bass Pro and turn that into a mega shopping destination for the Eastern Birmingham metro or is it going to be Exit 144 (although I'm not sure where there is enough land at this exit for something on the scale that Colonial does).

[kayman]

I keep hearing rumors of a large scale retail development in the Leeds/Moody area (besides the previously announced Grand River and Bass Pro Shops development) that include the likes of Publix, Target, etc. I'm hearing similar tenant mixes as what is seen in Colonial developments in Trussville, Fultondale, Alabaster and McCalla.

Has anyone heard anything similar and if so exactly which exit is being looked at? Will it be Exit 140 with Bass Pro and turn that into a mega shopping destination for the Eastern Birmingham metro or is it going to be Exit 144 (although I'm not sure where there is enough land at this exit for something on the scale that Colonial does).

Yeah, I heard about RTKenmore. It will between the Moody Parkway (144) and Kelly Creek Road interchanges with I-20 (147). The first meeting for this were held in November and the Town of Moody has already discussed the tax rebate arrangements to have this development constructed. It would be anchored by Target, Publix, Kohl's, and 2 other department store anchors. The proposed gross leaseable space is 1 million square feet for this project. It would be basically a outdoor regional lifestyle center. Also Jim Wilson & Associates, the developer and 50% current owner of the Riverchase Galleria, would be the developer of this project.

[TRoberts]

Going back to the Leeds/Moody retail scene, anyone heard any more on the big development that was rumored at exit 144? I've heard now that Target is looking at exit 140 instead and I have to wonder if basically that whole development has moved to 140. I always thought that exit had more opportunity to become a regional draw for St. Clair County than at 144 because of the sheer amount of land available there.

[Southron]

A couple of things previously posted in the Montgomery sub-forum, but appropriate here:

Dunkin' Donuts announced that they plan to open more than 142 Alabama franchise locations over the next few years. Local markets targeted include Birmingham, Huntsville, Mobile, Montgomery and Tuscaloosa.

Montgomery Advertiser: Dunkin' Donuts returning to Montgomery

Boston Globe: Dunkin' Donuts eyes the heart of Dixie

--

Einstein Bros. Bagels plans to enter the Montgomery market with up to three stores opening in six to 18 months.

The chain also plans to open stores in Birmingham, Huntsville and Mobile.

Montgomery Advertiser: Einstein Bros. Bagels coming

[TRoberts]

Not sure this has been posted anywhere else in the forums but I ran across this image today while researching some. It shows the limits of the Grand River development in Leeds. I know the parcel immediatly north and south of I-20 is included but I'm not sure on the the 2,196 ac. parcel. It is distinctly seperated from the 1,175 ac. parcel containing Bass Pro Shops.

The major portion of the retail development will be in the area bounded by the Cahaba River and Highway 78/I-20.

I'm sure we'll be seeing more to come over the coming months as things progress.

[kayman]

A couple of things previously posted in the Montgomery sub-forum, but appropriate here:

Dunkin' Donuts announced that they plan to open more than 142 Alabama franchise locations over the next few years. Local markets targeted include Birmingham, Huntsville, Mobile, Montgomery and Tuscaloosa.

Montgomery Advertiser: Dunkin' Donuts returning to Montgomery

Boston Globe: Dunkin' Donuts eyes the heart of Dixie

--

Einstein Bros. Bagels plans to enter the Montgomery market with up to three stores opening in six to 18 months.

The chain also plans to open stores in Birmingham, Huntsville and Mobile.

Montgomery Advertiser: Einstein Bros. Bagels coming

I heard about Dunkin' Donuts about this time last year, but I figured they would be working on opening a location or two by now. I just the economic slowdown has affected their regional reintroduction.

[TRoberts]

After spending the day bored and digging around online... I've noticed that Jim Wilson's website now lists Gateway Towne Center (Moody, AL) as a development of theirs. The last time I looking at jwamalls.com I don't recall seeing it listed. They also have gone ahead and listed tenants which include Belk, Dillards, Dicks Sporting Goods, Barnes and Noble, Circuit City among others. That tenant mix falls right about in line with what I would expect to see considering other large developments by Colonial around the metro area. I'm just surprised this isn't a Colonial development instead of Jim Wilson.

Digging around further I ran across a leasing plan on the St. Clair County Economic Development site.

Leasing Plan

The leasing plan shows three large Dept. store tenants at 80k sq. ft. or larger. The two 80k sq. ft. stores would most likely be Dillards and Belk. The 127k sq. ft., in my opinion, is the long rumored Target for the area. That size is right in line with the other area Targets (not supercents) and with Wal-Mart being across the interstate, we know it's not Wal-Mart. Also shown on the leasing plan is a movie theater. I haven't heard any mention of the theaters yet however.

Moving one exit up the interstate to Grand River. I've started hearing rumors of some of the additional retail looking to locate there. Two stores I've heard mentioned were BJ's (a warehouse shopping chain like Sam's and Costco) and Saks. I can only imagine if the Saks rumor holds true that it is actually an Off 5th outlet store for Saks. I've heard over and over that the retail portion of Grand River has been described as upscale outlets or premium outlets and an Off 5th store would certainly fit the bill there as an ideal upscale tenant. Alabama doesn't have any true "upscale" outlets and quite honestly doesn't have that many "good" outlet centers anymore. Boaz leaves a lot to be desired now and Watermark place just never really took off like it could have. If Grand River ends up to be something like the Chelsea Premium Outlets located north of Atlanta or in Orlando, then that will definitely be a huge positive.

I've seen several mentions from people in various forums about "how can two large retial developments both survive in the St. Clair county area" and that right there is exactly how. Position one as an upscale outlet center an the other as a regional lifestyle center. They could then feed off each other with little to no overlap in stores. And I don't think anyone will argue that the eastern metro is very underserved when it comes to retail compared to areas like Hoover/Pelham/Alabaster, Trussville, Gardendale/Fultondale and even the McCalla/Bessemer area now. Both of these developments will benefit greatly as well from the Pell City area as people from Pell City have to choose to drive to Oxford or Birmingham now to get deparment store shopping (both about 30 to 40 minutes or more). Moody/Leeds is only about 15 from Pell City.

Ok, I've rambled on enough now...

[TRoberts]

After spending the day bored and digging around online... I've noticed that Jim Wilson's website now lists Gateway Towne Center (Moody, AL) as a development of theirs. The last time I looking at jwamalls.com I don't recall seeing it listed. They also have gone ahead and listed tenants which include Belk, Dillards, Dicks Sporting Goods, Barnes and Noble, Circuit City among others. That tenant mix falls right about in line with what I would expect to see considering other large developments by Colonial around the metro area. I'm just surprised this isn't a Colonial development instead of Jim Wilson.

Digging around further I ran across a leasing plan on the St. Clair County Economic Development site.

Leasing Plan

The leasing plan shows three large Dept. store tenants at 80k sq. ft. or larger. The two 80k sq. ft. stores would most likely be Dillards and Belk. The 127k sq. ft., in my opinion, is the long rumored Target for the area. That size is right in line with the other area Targets (not supercents) and with Wal-Mart being across the interstate, we know it's not Wal-Mart. Also shown on the leasing plan is a movie theater. I haven't heard any mention of the theaters yet however.

I'm actually hearing now from a local source that Gateway Towne Center is being delayed by a year at a minimum due to the current economic climate and will not start ground work until summer 2009 for a 2010 opening now.

On a side note, an 8-Screen movie theater is moving ahead at the primary Pell City exit in the master planned retail development there. The theater will be built so that a 4-screen expansion can be done at a later date should business go well upon opening.

[kayman]

Yeah, I do remember hearing about the opening of a movie theater in Pell City for awhile now. Most of the residents in the region have to drive at least 30-40 miles just to get to a movie theater. Also it is wise to take a wait and see on both this theater and the Gateway Towne Center because aside from the tax-holiday weekend of August 1-3, the sales for most retailers has been flat statewide.

[TRoberts]

Although I don't think an official announcement has been made, after finding the leasing plan for Grand River (http://www.fwacgroup.com/pdfs/grand-river.pdf), it appears as though the new upscale outlet center has landed an Off 5th Saks outlet. I wondered if Saks or Neiman would take a leap into Grand River with one of their outlet stores and it appears as though at least one is.

The Grand River website has been updated to include an October 28th opening and a recent list of some of the stores coming.

[Southron]

Whole Foods is making a major expansion in Alabama, with new stores set to open in Huntsville, Mobile, Montgomery and Hoover (suburban Birmingham) by 2016. Right now the only Whole Foods Market in the state is in Birmingham. After these stores open Whole Foods will have at least one store in all four of Alabama's major metros, and Birmingham will have two.

 

Whole Foods confirms new lease in Mobile

 

Whole Foods coming to Huntsville in 2016

 

Whole Foods Market coming to Montgomery

 

Whole Foods to open in Hoover