Quote:
Originally Posted by HSVTiger
best thing about this is the new Zeirdt Rd/I-565 interchange
A brand-new, 625,000 square foot shopping center is coming to Madison.
Two Florida-based companies are partnering to bring the project to the Tennessee Valley - The Sembler Company and Lennar Commercial.
It shows the development sitting on the southwest corner of the intersection of Zierdt Road and 565.
A proposed road and 16 retail and mixed use spaces are in the rendering along with more than a dozen tracts of land for future development.
No tenants are listed on the website.
However, Lennar's other similar-sized developments include stores like Macy's, World Market, and Nordstrom Rack.
WAFF TV
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They did let the name of one tenant slip. If you click on the link to their brochure for the Town Madison project,
http://lennarcommercial.com/wp-content/files_mf/1401404141052914_TownMadison_LeasingFlyer_Final.pdf and scroll down to the second page, and then blow up the site plan, you will see in the far southeast corner a building labeled Publix and if you look above that, you will a large building labeled, "Home Improvement" which means either Home Depot or Lowe's. My guess is that it will be a Home Depot.
Since this is listed as being a 625,000 square feet development, there will need to be some other really large stores to come in to get that volume of space - a 45,000 sq. ft. Publix and a 100,000 sq. ft. Home Depot would be just getting started.
This leads to the perennial question, will they land a Macy's or a Von Maur, as both stores have indicated an interest in the area. Also, will Sears and J.C. Penny see this as an opportunity to flee Madison Square Mall event though they already own their buildings and all of the parking lots in front of their respective buildings. Dillard's, which also owns its building and the adjacent parking lot is another possibility. The average household income of $91,385 for the 5 mile radius will be a real magnet for many retailers. As Wal-Mart is already on Madison Boulevard, Target will see this as a prime opportunity to reach the Zeirdt Rd. corridor.
The department stores will have a different criteria than Target as they will see Town Madison as being in the perfect location to reach shoppers form Decatur to Hampton Cove as it will be equidistant from both and will have easy interstate access with the new interchange on I-565 (shown on the site plan). The only drawback I can see is the cannibalization of the existing shopping centers and this is already being seen as Publix plans to move its store on Madison Blvd. to this new facility.