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Tuesday, October 5, 2010

Newport Pavilion - Front Burner Again

While the Enquirer rolled out their article on signs of life beyond Target at the Newport Pavilion development I was preparing my own update on the development.  Among the items covered in the Enquirer article include:
  • Committments from Chipotle, Chick Fil A, and BW3, all rumored to be interested in the site but concerns had persisted and doubts about whether these retailers would ever get off the ground abounded.  Ground will be broken on sites for those three retailers this winter
  • Target's opening date is in March
  • New investors have entered the picture and infused millions of dollars into the development and created the new Newport Pavilion LLC
  • Once Target opens in March building will begin on retail space between Target and Kroger
  • 68% of the development is leased and another 13% is soon to be under lease
Meanwhile I spoke with commercial real estate expert whom was once affiliated with Bear Creek who indicates that the other retailers that have either signed, have made a committment or are about to make a committment include:
The other encouraging note from the Enquirer article is that the new management team of the LLC appear to be working with the current Newport Shopping Center to attract complimentary retail tennants.  This very encouraging as we have watched those developments slowly slide into irrelevance.
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  1. There is nothing in this run-down of stores that even remotely interest me. Chick Fil A is new to our area but how many Chipotles, BW3s, Famous Footwear, Subways, banks, tire companies, and Hallmarks do we need?

  2. Living in Bellevue there's several things that will be nice to have closer, and within bike-riding distance. Already ride to Krogers to pick up food, now I can ride to eat lunch, shop, etc. Wish Huntington Bank would set up shop. Get tired of having to drive to Covington or Cold Spring to get my banking done.