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Upscale retailers jump on board Providence
Dec 13, 2006 12:00 am
Year's end finds a flurry of new, upscale retailers like Chico's on board at Providence MarketPlace and a Carolina Holdings Inc. top level official saying the center is 90 percent leased with major plans to launch a 30-acre Phase Two in June 2007.
Carolina Holdings, Inc. Vice President Bill Misiaveg said Monday he expects MarketPlace to be 100 percent leased by next summer which will mean the center will be home to over 75 retailers and restaurants.
"Though we've already leased 90 percent, not all of the stores are open yet," Misiaveg said. "And the final 10 percent should be open for next fall."
Because the center is so successful, Carolina Holdings Inc. plans to expand to a 30-acre parcel that fronts Providence Parkway along South Mt. Juliet Road.
"The property is under contract and we have a purchase agreement," Misiaveg said.
The company plans to move through the approval process. Misiaveg said the 30 acres will hold an additional 16 retailers and four out parcels.
"We put the land under contract with the expectation there would be additional retailer interest about MarketPlace Phase Two," Misiaveg stated.
He said if the company buys the land, his guess would be that it will be summer 2009 before registers ring there. MarketPlace just launched its inaugural holiday season with all retailers there reporting record sales Black Friday weekend and the shopping not letting up.
And soon the smorgasbord of retailers and restaurants will expand even more. According to Providence MarketPlace General Manager Sharon Thompson, along with Chico's, the center will be home to Bath and Body Works, New York and Company, The Children's Place, Claires, Lifeway Christian and Men's Warehouse. Lane Bryant and Yankee Candle will be the first to open of these latest announcements. Misiaveg revealed soon more announcements will be made about "more nice, nationally recognized upscale stores" slated for MarketPlace.
"It is tremendously reaffirming a place this upscale [Chico's, an upscale women's clothing store] is eager to open at Providence MarketPlace," Misiaveg said. "It shows MarketPlace is the real thing and not overlooked. There's high regard for this center."
Lane Bryant is also an upscale women's half-size store.
"We are happy about expanding," Misiaveg said. "We are part of Mt. Juliet. We are extremely excited about the new traffic patterns to the center," Misiaveg said.
"It's wonderful we have five lanes open to the center and the traffic on South Mt. Juliet Road is moving reasonably well. We are extremely excited abut the level of business and overall shopping experience."
Most of the upcoming retailers will be small, unique shops that range in size from 1,200 to 7,000 square feet.
Managing Editor Laurie Everett can be reached at 754-6397 or by e-mail at email@example.com.