Gross Cost: $64 M
Completion Date: 2Q 2018
Promenade at Christiana is the ground up construction of approximately 400,000 square feet anchor and junior anchor power center with small in-line retail and pad buildings in Newark, Delaware. The development includes the demolition of a 200,000 square feet vacant industrial building and extensive environmental wetlands mitigation. Promenade at Christiana promises to be a premier power center in the region with great visibility to I-95 and easy access for cutomers in the region. Delaware offers attractive zero percent sales tax and is adjacent to three states with much higher sales tax rates -- Pennsylvania with 8% sales tax; New Jersey with 7% sales tax; and Maryland with 6% sales tax.Eagle Run Road will be extended nearly one half mile and will include the construction of two bridges to provide a connection to nearby Christiana Mall. The extension of Eagle Run Road will provide a major connector road parallel to I-95 between DE Rte. 273 an Delaware Route 1. The Promenade at Christiana has over 3/4 mile of road frontage along Interstae 95, the major North-South interstate for the Eastern Seaboard. Demolition was completed in the fourth quarter of 2015. Building construction will commence by the fourth quarter of 2016. with tenant openings in the second and third quarters of 2018.
by Block Group
Popstats, 4Q 2016 rev., Trade Area Systems
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