Lakeland project announces new retail commitments
By Jacob Steimer Staff Reporter, Memphis Business Journal
The 160-acre, mixed-use project being developed in Lakeland has landed some more retail commitments, development firm Gilad Development announced Thursday.
Gloss Nail Bar, Brick House Fitness, Mojito’s Latin Restaurant, Crave Bistro and Crave Sweets have committed to opening in The Lake District. Hollywood Feed has also signed a letter of intent (LOI) on a space, according to a news release.
“There’s so much to celebrate; over 100,000 square feet of retail space has been committed to by tenants,” Gilad owner Yehuda Netanel said in the release.
Starbucks, Malco Theatres Inc., Gould’s Salon and Spa, Osaka Japanese Restaurant and an independent grocery store have previously committed to the development.
The ambitious project would eventually include about 75,000 square feet of office space, 250,000 square feet of retail, a pair of hotels, 240 single-family homes and 560 apartments, according to its website.
Gilad recently completed erosion control at the site and is now cutting down trees and paving roads, the release said.
The first phase of retail is set to include about 130,000 square feet and be completed in 2019. The first phase of single-family homes will be 43 houses — about 50 percent of which have been reserved — and will be completed by March 2020.
In August, Gilad purchased most of the land for the development from Belz Enterprises for about $7.1 million.
Brokers Shawn Massey of The Shopping Center Group and Sperry CGA‘s J. Max Hamidi and Ginny Dunn are the development’s retail leasing agents. Colliers International’s Ron Riley is working to lease its office space, and Crye-Leike Realtors’ Billy Rodgers is its residential agent.
