Watkins Breaks Ground on New AL Retail Center
- Oct 03, 2017
Watkins Real Estate Group broke ground on The Pinnacle at Providence, a grocery-anchored neighborhood retail center in Huntsville, Ala. The $12 million project is expected to be operational in the first quarter of 2018. BB&T Corp. provided the financing for the development.
The 59,600-square-foot retail center will be located at the intersection of Old Monrovia Road and Johns Road, on a 9.2-acre site acquired by Watkins in 2016.
Publix will anchor the new development. The Florida-based grocer‘s third storefront, its tenth location in Madison County, will occupy more than 45,000 square feet. Courtney Murray (2,000 square feet) and Allure Nails Spa (2,200 square feet) have also joined the tenant line-up. The Watkins leasing team, led by Vice President of Development Bob Peck is currently pursuing other retail, dining and service tenants for the remaining 9,800 square feet. A 1-acre outparcel is also available.
More than 105,500 consumers reside within five miles of the development and share an average household income of nearly $80,000. The location is attractive because of its proximity to Cummings Research Park, Madison County 911 Center and the North Alabama Dance Center. The new retail center will also serve The Village of Providence, a master-planned, mixed-use community in northwest Huntsville.
“The Huntsville trade area is the ideal market for expanding grocers,” Jay Levy, president of Watkins Real Estate Group, said in prepared remarks. “The city’s total workforce tops 750,000 with nearby Cummings Research Park and Redstone Arsenal combining for a total of 24 million square feet of occupied office space that houses an approximately 65,000 worker-strong daytime population.”
Image courtesy of Watkins Real Estate Group