In The News

The Shopping Center Group Leases Huntsville’s Largest Mixed-Use Project Underway

Retail Construction Underway; Multi-Family Units Now Open

HUNTSVILLE, ALA. — Watercress Properties tapped The Shopping Center Group as the primary leasing agent for the retail component of Watercress Green, an 86-acre, master-planned, mixed-use development. The retail component of Watercress features a neighborhood center anchored by a 100,000-square foot Kroger Marketplace store and fuel center. An additional 28,000 square feet of shop space and 6 outparcels front the intersection of US Highway 72 and Jeff Road in the heart of west Huntsville’s commercial corridor. Kroger is expected to open in January 2011.

“Watercress Green delivers the ideal blend of retail, office and residential for this neighborhood,” explains Don Beck, partner, The Shopping Center Group. “Without a doubt, the neighborhood center will bring high-quality and convenient value retail – including a grocery alternative – to a marketplace where there has been little retail expansion over the past 18 months.”

Located on the former Monrovia Golf Course, Watercress Green blends neighborhood retail with a multi-family component and professional office space. Situated at the northern end of the site, the “village-style” residential community features 324 apartments that are currently available for lease. Approximately 20 acres is dedicated to the future development of a professional office park.

“Watercress will bring to life our vision of live, work, play for not only our Watercress residents but consumers from Huntsville, Madison, Hartselle and beyond,” explains Lou Bartlett, principal, Watercress Properties. “We will not only deliver quality and value but also hundreds of new jobs that will support the vitality of Huntsville.”

“For several decades, the Huntsville market has been marked with a steady population growth and healthy median household income,” explains Beck. A consumer base of almost 100,000 residents with a median household income in excess of $69,000 within a three-mile radius of the center strengthens the appeal of Watercress Green. The mixed-use development is conveniently located 2.1 miles from Cummings Research Park, home to 220 companies with more than 25,000 employees. Further, approximately 51,000 vehicles travel daily along US Highway 72 between Huntsville and Madison.

The Shopping Center Group provides leasing and management advisory services on behalf of the most respected retail real estate companies throughout the United States. The firm leases 60 million square feet and manages seven million square feet of retail space throughout the Southeastern and Mid-Atlantic states.

_About The Shopping Center Group
Founded in 1983, The Shopping Center Group, with over 200 experienced professionals in 20 offices, is a retail real estate advisory company respected for its analytical approach, wide-ranging resources and industry leading results. The firm provides retail real estate advisory services to owners, retailers, landlords, developers, investors and financial institutions throughout the United States. The team delivers "best in class" service in tenant representation, leasing, property management, investment sales, surplus property disposition, finance, investment advisory services and REO advisory services. Its historical perspective, industry insight and business acumen validates The Shopping Center Group as retail real estate specialists and valued advisors. For more information, visit www.theshoppingcentergroup.com.

CONTACT: Jenn Weyand 678/290-1460_

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