Sunday, June 22, 2008

Update on Newport Pavilion

This week's edition of the Cincinnati Business Courier gives an update on the Newport Pavilion shopping center off 471 and Memorial Pkwy. Despite the progress that has been made this spring the time line continues to slip for openings and Bear Creek Capital continues to be tight lipped regarding final tenants.

I placed multiple calls to Bear Creek and my calls were not returned but they have indicated for months now that interest has been high and an announcement on the final tenant mix is forthcoming.

Despite earlier predictions that the anchor tenants would be open by the holiday shopping season the new time line has the Kroger opening in late spring 2009 and Target after that. The spokesperson quoted in the Courier indicates that they lost 40 days in the spring due to rain and that is the culprit for the delayed time lines. They are continuing to talk with retailers about the final spots and clothing stores, electronics, and pets were all mentioned.

I just hope the softening economy doesn't get this project off to a slow start and vacant store fronts. Home Depot backed out of the project in the fall and that has probably left Bear Creek a little hesitant to announce any other tenants until things are a little more firm.

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