New retail center planned at Highland Park Marketplace already 50% leased

New retail center planned at Highland Park Marketplace already 50% leased




Highland Park Marketplace—the commercial development planned for the corner of Highland and Old Perkins roads, anchored by Alexander's Highland Market—will soon break ground on its next phase of construction, says George Kurz of Kurz & Hebert. The next phase which will encompass a five-suite, 8,000-square-foot retail center.



Although the center—which will be located behind the new Investar bank on Highland Road and adjacent to Alexander's—is still in the permit process, Kurz says he has already signed leases for over 50% of the space.



"The idea here is that we're not going to go and build a bunch of spec space," he says. "We are building a mix of tenants who are complementary to each other and geared to a similar clientele … We're being smart about this."



Kurz says he is waiting for permission from the signed tenants before he releases names. Following completion of the first retail center, the second phase of construction will be the approximately 6,700-square-foot Juban's Grille, a new venture affiliated with the original Juban's restaurant in Southdowns, and the third phase will include a retail center facing Old Perkins Road. Kurz says that center will be 75% leased upon construction.



Kean's Fine Dry Cleaning previously announced plans to open a location in Highland Park Marketplace, but it is unclear which phase it will be included in. Alexander's Highland Market––a 37,000-square-foot gourmet grocery store that opened a little over a year ago–– first built at Highland Park Marketplace, followed by Investar Bank, which announced plans for its branch there last summer. Kurz previously told Daily Report that long-term plans for the development include 72,000 square feet of retail space around Alexander's. See a site map for the upcoming 8,000-square-foot retail center.



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