Construction Updates
In 2005, construction of approximately 180,000 square feet of leasable space was completed for the new tenants: Bed, Bath & Beyond, Best Buy, Cost Plus World Market, Famous Footwear, Johnny Carino's Italian Restaurant, PETsMART, Quizno's and Starbucks. The end of 2005 also concluded the completion of site work for Phase 1A consisting of underground utilities, parking lot lighting, asphalt and concrete, grading, common area security via closed circuit video, and landscaping. The installation of the four-way traffic signal at the corner of Robal and Hunnell Road has proven to be a successful alternate route in moving traffic efficiently in and out of the shopping center.
In addition to the completion of Phase 1, the storefronts of
the existing tenants which included Food 4 Less, G.I. Joe's and
Ross Dress for Less were significantly upgraded to match the
newly constructed areas.
At the end of 2005, site work for Phase 2 of development, which
abuts Highway 20, included the enclosure of the irrigation
canal that runs through the Property and the addition of fill
material to bring the Property to a ready-to-build grade.
As of February 2006, Phase 2 development has been brought up to
grade and vertical construction will commence once tenant
interest is further defined.
The on-site Management trailer located at the northeast corner
of the Property was moved this past April to allow for the
completion of remaining asphalt, sidewalks and landscaping
where the trailer resided. The Management office is now
located in the 2nd floor building across from Cold Stone
Creamery inside the 'village' area.
The 'village' portion of the Property was completed in January
2006. The 'village' consists of +/- 65,000 square feet of
retail space that highlights wide tree lined sidewalks, cement
pavers, a center court fire and water feature, outdoor seating
and Oregon craftsman themed architecture. At the end of the
second quarter for 2006, the Property was 81% leased and/or
occupied.
Construction of Buildings U&V (buildings adjacent to the
'village' area facing Highway 20) commenced in the first
quarter of 2006 and is scheduled to be completed in
September. By the end of 2006, new asphalt, cement
pavers, landscaping, lighting, video security and sidewalks
will be installed for the southeast quadrant of the Property
encompassing Buildings U&V. Both new buildings are
currently being marketed to prospective tenants and will add
24,973 square feet of leasable space to the center.
Upon completion, the Property will encompass approximately
440,000 square feet. Phase 1 consists of up to 380,000
square feet of leasable space on 34 acres and Phase 2 consists
of up to 60,000 square feet of leasable space on the
undeveloped adjacent seven (7) acres. The to-be-developed
portion of Phase 1 space consists of four (4) pad buildings
encompassing +/- 49,000 square feet.
FUTURE PHASES
The remaining Buildings not discussed herein will be developed
upon future demand and/or securing a tenant for a space.
