CottonMills: Now leasing
June 24, 2009 by SNEditor
Filed under Economic Development, Happening Now
Thanks to a heads-up by a reader in the talkbacks. CottonMills has a new yellow header on their website.
It says “Now leasing 23,000 sf of retail space adjacent to 76,000 sf anchor tenant.” That implies that an anchor has signed, does it not?
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CALM BEFORE THE STORM
“That implies that an anchor has signed, does it not?” The answer is, absolutely!
This is a very good sign. Not just that there appears to be a commitment from a significant anchor, but that it’s not being shouted from the rooftops (as had become the common practice of the developer).
Being quite and unassuming, rather than boasting and promising, is definitely encouraging.
It doesn’t absolutely mean there is an anchor tenant. Could be. But my guess is there is a letter of intent from an anchor tenant. But there may not even be that yet. I have only known one tenant to not want to disclose they were coming to a development and that was only for a short while so they could be in control of the announcement. Most retail leases are contingent on other nearby tenants being in place.
I’m ALL for this project, but it is an extremely tough time to get a large retail tenant to commit anywhere in the US.
TC, thanks for the feedback. You sound very knowledgeable.
76,000 sf is very specific. Got any wild guesses?
“I have only known one tenant to not want to disclose they were coming to a development and that was only for a short while so they could be in control of the announcement.” TCS
Who was that?