First look: Next project at billion-dollar Century Farms development has begun
BY ADAM SICHKO / NASHVILLE BUSINESS JOURNAL
Posted: March 6, 2020
Link: https://www.bizjournals.com/nashville/news/2020/03/06/first-look-next-project-at-billion-dollar-century.html
Developer TDK Cos. is newly under construction on this 212-unit apartment complex at Antioch's Century Farms development. The building is set to open in 2021, across from Tanger Outlets.
Once on life-support, a boom is taking hold in Antioch
BY ADAM SICHKO / NASHVILLE BUSINESS JOURNAL
Posted: February 28, 2019
Link: www.bizjournals.com/nashville/news/2019/02/28/once-on-life-support-a-boom-is-taking-hold-in.html
BY ADAM SICHKO / NASHVILLE BUSINESS JOURNAL
Posted: February 28, 2019
Link: www.bizjournals.com/nashville/news/2019/02/28/once-on-life-support-a-boom-is-taking-hold-in.html
Bill Oldacre and Mark McDonald, principals of Nashville development company Oldacre McDonald LLC are spearheading the Century Farms mixed-use development on 310 acres in Antioch.
J. KYLE KEENER | FOR THE NASHVILLE BUSINESS JOURNAL
J. KYLE KEENER | FOR THE NASHVILLE BUSINESS JOURNAL
Hotel planned for Nashville West
BY WILLIAM WILLIAMS / NASHVILLE POST
Posted: November 30, 2017
Link: www.nashvillepost.com
In what would be a first for Nashville West, and the general area in which it is located, a hotel is being eyed for the popular suburban retail center.
Franklin-based Parkes Development Group and Nashville-based Oldacre McDonald (formerly Newton Oldacre McDonald), which co-developed Nashville West, will go before the Metro Planning Commission on Thursday, Dec. 14, to request a revision to the preliminary plan related to a portion of a planned unit development overlay on the property (which has an address of 6710 Charlotte Pike).
The two companies, which own the 6.7-acre parcel via Nashville West Shopping Center LLC, also want the project to offer retail and restaurant space. The parcel is located to the south of the building home to Books-A-Million.
Nashville West Shopping Center has enlisted Nashville-based Catalyst Design Group for engineering and land planning efforts.
Gary Parkes, principal of Parkes Development Group, said the building is being targeted to rise four stories above a two-level underground parking garage. He said the team is not ready to disclose the brand.
"We are really excited to bring a different-use component to a very successful shopping center," Parkes said, adding the team has not yet released an image.
Of note, were the hotel operational today, it would be the only hotel located along the Charlotte Pike corridor and between the intersection with White Bridge Road on the east and a Super 8 near the intersection at Interstate 40 on the west.
Metro Councilwoman Mary Carolyn Roberts, in whose District 20 the property sits, said she is aware of the basics of the project and, at this early point, supports the effort.
“I’m usually not ‘pro hotel.’ But at that location, a hotel could be useful,” she said. “What makes the development more appealing [than otherwise] is that it would offer a green space for public access.”
The general area located relatively near Nashville West continues to see development activity. For example, north of Interstate 40, more than 800 residential units are under construction.
BY WILLIAM WILLIAMS / NASHVILLE POST
Posted: November 30, 2017
Link: www.nashvillepost.com
In what would be a first for Nashville West, and the general area in which it is located, a hotel is being eyed for the popular suburban retail center.
Franklin-based Parkes Development Group and Nashville-based Oldacre McDonald (formerly Newton Oldacre McDonald), which co-developed Nashville West, will go before the Metro Planning Commission on Thursday, Dec. 14, to request a revision to the preliminary plan related to a portion of a planned unit development overlay on the property (which has an address of 6710 Charlotte Pike).
The two companies, which own the 6.7-acre parcel via Nashville West Shopping Center LLC, also want the project to offer retail and restaurant space. The parcel is located to the south of the building home to Books-A-Million.
Nashville West Shopping Center has enlisted Nashville-based Catalyst Design Group for engineering and land planning efforts.
Gary Parkes, principal of Parkes Development Group, said the building is being targeted to rise four stories above a two-level underground parking garage. He said the team is not ready to disclose the brand.
"We are really excited to bring a different-use component to a very successful shopping center," Parkes said, adding the team has not yet released an image.
Of note, were the hotel operational today, it would be the only hotel located along the Charlotte Pike corridor and between the intersection with White Bridge Road on the east and a Super 8 near the intersection at Interstate 40 on the west.
Metro Councilwoman Mary Carolyn Roberts, in whose District 20 the property sits, said she is aware of the basics of the project and, at this early point, supports the effort.
“I’m usually not ‘pro hotel.’ But at that location, a hotel could be useful,” she said. “What makes the development more appealing [than otherwise] is that it would offer a green space for public access.”
The general area located relatively near Nashville West continues to see development activity. For example, north of Interstate 40, more than 800 residential units are under construction.
CHS CEO Wayne Smith cuts a ribbon at the new CHS Cane Ridge site
Community Health Systems Begins Operating at Cane Ridge Site
BY JAMIE MCGEE / TENNESSEAN
Posted: September 27, 2017
Link: www.tennessean.com
CHS, a Franklin-based health care corporation, has begun operating at its new Cane Ridge site, bringing nearly 1,000 employees to the area that is poised for significant growth.
CHS Chief Executive Officer Wayne Smith cut a blue ribbon Wednesday marking the company’s local expansion and heaped praise on the Davidson County neighborhood. In addition to CHS, Antioch and Cane Ridge have attracted an IKEA store, Bridgestone Americas and LKQ in recent years.
“Antioch community is growing with new businesses, homes, restaurants, retail,” Smith said. “This is going to be a destination location.”
The company eventually expects to staff 2,000 employees at the 240,000 square-foot building and is investing $66 million in the 36-acre site. Positions at CHS Cane Ridge are in physician support, supply chain, accounts payable and payroll.
The CHS campus is the first to completed at Century Farms, a 300-acre site being developed by Oldacre McDonald.
Mayor Megan Barry emphasized the role that CHS has made in the area's development. In addition to the corporate growth, Metro has invested in an Antioch library, a community center and has purchased 600 acres of open space. In June, Metro Council approved $7 million to make improvements to Interstate 24.
"We are so excited about having CHS out here. This is a great anchor," Barry said. "It's going to be a key piece of the thriving economy out here."
CHS received about $5 million in incentives from the city as part of its Nashville expansion through property tax abatement and received $6.75 million through a Tennessee economic development grant in 2015.
Smith said the new building is part of an overall cost-cutting strategy as the company weathers a series of losses and a two-year decline in share prices.
“This is part of our reset in consolidating a lot of back-office jobs here," Smith said. "It enhances productivity and it enhances quality. It allows us to do an even better job in our hospitals. We are excited about doing this, and this is a cost-saving event for us as a company."
CHS employs 12,000 people statewide and operates hospitals and physician practices in 20 states.
In the past year, CHS has spun off nearly 60 hospitals, more than half of which are owned by Quorum Health, and sold an 80 percent stake in its home care division. In early 2014, CHS owned 206 hospitals, a number now reduced to 137.
CarMax coming to The Pinnacle
Posted: Thursday, August 6, 2015 10:48 pm | Updated: 10:14 am, Fri Aug 7, 2015.
BY TAMMY CHILDRESS | BRISTOL HERALD COURIER
Posted: Thursday, August 6, 2015
Link: http://www.heraldcourier.com/news/carmax-coming-to-the-pinnacle/
BRISTOL, Tenn. — The Pinnacle is growing again and this time the regional shopping destination is adding the first CarMax in the Tri-Cities to its list of retailers.
CarMax, which deals solely in used vehicles, is building on 9.73 acres behind Zaxby’s. The nearest location of a CarMax is in Knoxville.
Steve Johnson, developer of The Pinnacle at Interstate 81’s Exit 74, said it was the right time and place for the used car dealer to move to the area.
“CarMax looked in our market back before 2008, and had planned to build in Johnson City,” said Johnson. “When the economy tanked, they decided to hold off coming into the region. Since then, we’ve built The Pinnacle, which gave CarMax the best opportunity to serve the entire market and more. Our trade area is now over 1 million people and Bristol was just a great fit for them.”
The opening will also bring jobs.
“Our new stores typically bring 15 to 100 jobs to a community and we would estimate approximately 45-65 jobs for a potential store in this area,” said Lindsey Duke, with CarMax public affairs.
The city has already issued grading and site utility permits to the company and according to Shari Brown, the city’s economic and development director, grading has begun.
“They’re grading now,” she said. “They have to make a slight tweak to their electrical design and we need a list of the folks they will be using for their special inspections, then they’re ready to roll.”
Duke said currently the car dealer has 151 locations across the nation and plans to add 13 to 16 stores per year for the next several years.
Duke also said CarMax has been on FORTUNE Magazine’s 100 Best Companies to Work For list for 11 years in a row and The CarMax Foundation has donated more than $25 million to community efforts since its inception in 2003.
Johnson said he expects the dealership to be open by spring 2016.
“I don’t know the exact date they’ll be open, but they get started building this month,” he said.
Johnson posted on Facebook this week the new site plan for The Tower Shops at The Pinnacle, which will include Bath and Body Works and Rue 21, which are currently in the Bristol Mall, and Hallmark, which recently closed its mall location. Others on the graphic include LensCrafters, Maurices, Yankee Candle, Lane Bryant, Francesca’s, Gap and American Eagle.
Johnson declined comment on the stores posted.
[email protected] | 276-645-2512 | Twitter@TChildressBHC
Posted: Thursday, August 6, 2015 10:48 pm | Updated: 10:14 am, Fri Aug 7, 2015.
BY TAMMY CHILDRESS | BRISTOL HERALD COURIER
Posted: Thursday, August 6, 2015
Link: http://www.heraldcourier.com/news/carmax-coming-to-the-pinnacle/
BRISTOL, Tenn. — The Pinnacle is growing again and this time the regional shopping destination is adding the first CarMax in the Tri-Cities to its list of retailers.
CarMax, which deals solely in used vehicles, is building on 9.73 acres behind Zaxby’s. The nearest location of a CarMax is in Knoxville.
Steve Johnson, developer of The Pinnacle at Interstate 81’s Exit 74, said it was the right time and place for the used car dealer to move to the area.
“CarMax looked in our market back before 2008, and had planned to build in Johnson City,” said Johnson. “When the economy tanked, they decided to hold off coming into the region. Since then, we’ve built The Pinnacle, which gave CarMax the best opportunity to serve the entire market and more. Our trade area is now over 1 million people and Bristol was just a great fit for them.”
The opening will also bring jobs.
“Our new stores typically bring 15 to 100 jobs to a community and we would estimate approximately 45-65 jobs for a potential store in this area,” said Lindsey Duke, with CarMax public affairs.
The city has already issued grading and site utility permits to the company and according to Shari Brown, the city’s economic and development director, grading has begun.
“They’re grading now,” she said. “They have to make a slight tweak to their electrical design and we need a list of the folks they will be using for their special inspections, then they’re ready to roll.”
Duke said currently the car dealer has 151 locations across the nation and plans to add 13 to 16 stores per year for the next several years.
Duke also said CarMax has been on FORTUNE Magazine’s 100 Best Companies to Work For list for 11 years in a row and The CarMax Foundation has donated more than $25 million to community efforts since its inception in 2003.
Johnson said he expects the dealership to be open by spring 2016.
“I don’t know the exact date they’ll be open, but they get started building this month,” he said.
Johnson posted on Facebook this week the new site plan for The Tower Shops at The Pinnacle, which will include Bath and Body Works and Rue 21, which are currently in the Bristol Mall, and Hallmark, which recently closed its mall location. Others on the graphic include LensCrafters, Maurices, Yankee Candle, Lane Bryant, Francesca’s, Gap and American Eagle.
Johnson declined comment on the stores posted.
[email protected] | 276-645-2512 | Twitter@TChildressBHC
'Seal of Approval': CHS Expansion Bolsters Antioch Developers
BY ADAM SICHKO / NASHVILLE BUSINESS JOURNAL
Posted: Thursday, May 14, 2015
Link: www.bizjournals.com/nashville
Bill Oldacre and Mark McDonald didn't need to be on stage Thursday in order to bask in the spotlight now shining brighter on the massive development they're pursuing in Antioch.
Oldacre and McDonald happily listened while Wayne Smith, CEO of Community Health Systems Inc. (NYSE: CYH), rattled off a half-dozen reasons why he decided to move 2,000 jobs (mostly new) to Antioch — after CHS had previously planned to locate those jobs in Cool Springs.
Oldacre and McDonald are the beneficiaries of the switch, as CHS will locate within a 300-acre development also intended to feature a range of retailers, office space, condos and apartments. By land mass, it's a project five times larger than Oldacre McDonald LLC's best-known local project: the Nashville West shopping center on Charlotte Pike.
"This is the spark that starts the bonfire," Oldacre told me. "We're starting with quality, and quantity. This is exactly what we had in mind, exactly the caliber of jobs that we were seeking."
Added McDonald: "It's like we've just been given the Good Housekeeping seal of approval. When a Fortune 200 company chooses to do this, it's an affirmation of what we've been saying."
Oldacre McDonald is teaming with Atlanta-based developer TPA Group on the Antioch project. They've received a zoning change that allows for millions and millions of square feet to be built.
BY ADAM SICHKO / NASHVILLE BUSINESS JOURNAL
Posted: Thursday, May 14, 2015
Link: www.bizjournals.com/nashville
Bill Oldacre and Mark McDonald didn't need to be on stage Thursday in order to bask in the spotlight now shining brighter on the massive development they're pursuing in Antioch.
Oldacre and McDonald happily listened while Wayne Smith, CEO of Community Health Systems Inc. (NYSE: CYH), rattled off a half-dozen reasons why he decided to move 2,000 jobs (mostly new) to Antioch — after CHS had previously planned to locate those jobs in Cool Springs.
Oldacre and McDonald are the beneficiaries of the switch, as CHS will locate within a 300-acre development also intended to feature a range of retailers, office space, condos and apartments. By land mass, it's a project five times larger than Oldacre McDonald LLC's best-known local project: the Nashville West shopping center on Charlotte Pike.
"This is the spark that starts the bonfire," Oldacre told me. "We're starting with quality, and quantity. This is exactly what we had in mind, exactly the caliber of jobs that we were seeking."
Added McDonald: "It's like we've just been given the Good Housekeeping seal of approval. When a Fortune 200 company chooses to do this, it's an affirmation of what we've been saying."
Oldacre McDonald is teaming with Atlanta-based developer TPA Group on the Antioch project. They've received a zoning change that allows for millions and millions of square feet to be built.
GRESHAM SMITH & PARTNERS | A rendering of the six-story, 240,000-square-foot office building that Community Health Systems Inc. plans to build in Antioch. About 2,000 jobs will be located there, most of them new to the region.
New Belk Store Opens Today At The Pinnacle
$20M Store is chain's largest in Tennessee, among largest in Southeast
DAVID MCGEE | BRISTOL HERALD COURIER
Posted: Tuesday, March 3, 2015 11:49 pm | Updated: 11:55 pm, Tue Mar 3, 2015.
Link: www.tricities.com
BRISTOL, Tenn. — A sparkling new $20 million Belk store opening today will be the chain’s largest in Tennessee and among its largest in the Southeast.
The 132,000-square-foot, two-level location is the second anchor tenant of The Pinnacle, the massive commercial center taking shape near Interstate 81’s Exit 74 featuring Bass Pro Shop. It represents the new store design for the North Carolina-based retail chain, according to store Manager Anissa Bankowski.
“This is the latest of the latest as far as Belk stores go. We have an upgraded assortment, more brands and much more selection than we could have before,” Bankowski said Tuesday.
The new store replaces the fragmented Belk locations that operated in the Bristol Mall before closing Feb. 20. It features an assortment of premium and national brands plus exclusive Belk private brands.
“This store is much lighter and brighter than the previous location,” Bankowski said. “I think they’ve done a great job with décor. It’s visually very exciting and different. You won’t honestly see anything like this anywhere else in Tennessee.”
The ground floor includes women’s fashions, cosmetics, jewelry, accessories and women’s shoes. Women’s intimate apparel and special sizes, men’s and children’s clothing and the home department are located upstairs. Every aspect of the shopping experience has been studied and refined, Bankowski said.
On Tuesday, dozens of workers finished installing signs, stocking displays and cleaning up prior to the soft opening.
Customers can shop limited hours today and tomorrow before the store begins operating with regular hours on Friday, Bankowski said. The store is expected to operate from 10 a.m. until 4 p.m. today and Thursday then operate from 10 a.m. until 9 p.m. on Friday.
“We’re putting the finishing touches on and we’re doing a soft opening,” Bankowski said. “It’s a little sneak peak and a little practice.”
The new store has about 125 employees, including some from the previous location and many new faces.
“We hired a lot of people. We have a mixture of people, but we obviously have a larger store so we’ll have a larger staff,” the manager said.
A grand opening celebration is planned March 11.
“The community is excited. On Saturday, we must have had 300 cars drive by,” Bankowski said. “It’s going to be great for Bristol and the Tri-Cities, but I think it’s going to go beyond that. Location-wise, I think there are a lot of other communities outside of the state that this will be a draw for.”
$20M Store is chain's largest in Tennessee, among largest in Southeast
DAVID MCGEE | BRISTOL HERALD COURIER
Posted: Tuesday, March 3, 2015 11:49 pm | Updated: 11:55 pm, Tue Mar 3, 2015.
Link: www.tricities.com
BRISTOL, Tenn. — A sparkling new $20 million Belk store opening today will be the chain’s largest in Tennessee and among its largest in the Southeast.
The 132,000-square-foot, two-level location is the second anchor tenant of The Pinnacle, the massive commercial center taking shape near Interstate 81’s Exit 74 featuring Bass Pro Shop. It represents the new store design for the North Carolina-based retail chain, according to store Manager Anissa Bankowski.
“This is the latest of the latest as far as Belk stores go. We have an upgraded assortment, more brands and much more selection than we could have before,” Bankowski said Tuesday.
The new store replaces the fragmented Belk locations that operated in the Bristol Mall before closing Feb. 20. It features an assortment of premium and national brands plus exclusive Belk private brands.
“This store is much lighter and brighter than the previous location,” Bankowski said. “I think they’ve done a great job with décor. It’s visually very exciting and different. You won’t honestly see anything like this anywhere else in Tennessee.”
The ground floor includes women’s fashions, cosmetics, jewelry, accessories and women’s shoes. Women’s intimate apparel and special sizes, men’s and children’s clothing and the home department are located upstairs. Every aspect of the shopping experience has been studied and refined, Bankowski said.
On Tuesday, dozens of workers finished installing signs, stocking displays and cleaning up prior to the soft opening.
Customers can shop limited hours today and tomorrow before the store begins operating with regular hours on Friday, Bankowski said. The store is expected to operate from 10 a.m. until 4 p.m. today and Thursday then operate from 10 a.m. until 9 p.m. on Friday.
“We’re putting the finishing touches on and we’re doing a soft opening,” Bankowski said. “It’s a little sneak peak and a little practice.”
The new store has about 125 employees, including some from the previous location and many new faces.
“We hired a lot of people. We have a mixture of people, but we obviously have a larger store so we’ll have a larger staff,” the manager said.
A grand opening celebration is planned March 11.
“The community is excited. On Saturday, we must have had 300 cars drive by,” Bankowski said. “It’s going to be great for Bristol and the Tri-Cities, but I think it’s going to go beyond that. Location-wise, I think there are a lot of other communities outside of the state that this will be a draw for.”
Nashville West Developers Pursue Huge Antioch Project
BY ADAM SICHKO, NASHVILLE BUSINESS JOURNAL
Posted: Friday, October 31, 2014
Link: www.bizjournals.com/nashville/
A Nashville development duo is pursuing a 300-acre site for a massive project involving retail, office space, condos and apartments — in Antioch, about 15 miles southeast of downtown.
It's really an act of defiance, when you consider Antioch's prevailing perception among major retailers as a dead market. They need only point to how activity at the old Hickory Hollow Mall has withered to nearly nothing.
In fact, it wasn't until after Target closed its Antioch store that Bill Oldacre and Mark McDonald even considered doing anything in that part of the Nashville market. Initially, even they weren't true believers.
"I'm guilty, just like everyone else, of misunderstanding Antioch," said Mark McDonald, one half of the firm Oldacre McDonald LLC. "That's something Nashvillians perceive. People from out of town, they see it without those blinders.
"There are not 300-acre tracts of land anywhere in Davidson County with the potential to expand an interstate exit and have great access. And there sure aren't 300 acres of property available in what has been the county's fastest-growing zip code, four or five years running," McDonald told me. "We have traffic counts, population density and disposable income — in spades."
Locally, Oldacre McDonald is best known as co-developer of the Nashville West shopping center along Charlotte Pike, teaming with The Parkes Cos. It's one of Nashville's biggest and most popular shopping centers, featuring chain retailers such as World Market, Dick's Sporting Goods, Target and Best Buy.
For perspective, Nashville West is 65 acres in size. The proposed development in Antioch is almost five times as large. The land is located at exit 60 of Interstate 24, on the other side of the highway from the former Hickory Hollow Mall.
"Every corridor going out of Nashville has a major shopping district. Southeast, there's really nothing. It's a piece of property so unique, we feel it's like the 'Field of Dreams:' Build it and they will come," McDonald said, a twist on the famous line from the movie of the same name.
For Antioch, the development promises to revive the economy that was once there, said Metro Councilwoman Jacobia Dowell.
"We were a destination-shopping community. Losing the mall, a lot of people lost a sense of community," Dowell said.
McDonald is the first to acknowledge he'll need a stellar sales pitch to persuade gun-shy retailers. "Retailers move with a herd instinct. We are having to overcome some preconceived notions in the broker community," McDonald said. "If we set the table right, it should be attractive."
"Yes, the mall died. But let's face it, a whole lot of malls died. That had more to do with a bad mall owner than a lack of business," McDonald said.
This project is about much more than retail. McDonald said top-grade Class A office space will be a component, as well as some mix of condos and apartments, and perhaps even a retirement community. McDonald said he wants to ensure there's ample green space for residents, workers and shoppers to enjoy.
At this point, we're very early in the development process. McDonald said he could not forecast a price tag, or the total amount of retail, office or residential space that will be built.
Oldacre McDonald is under contract to buy the land necessary, currently owned by two people: Lee Beaman, the head of Beaman Automotive Group, and twin sisters who call their land Century Farms.
A critical piece will involve the state, after many years of inaction, finally expanding the interchange at exit 60 of Interstate 2 — attempting to steer traffic off of Bell Road.
"Traffic is a nightmare up there, and that's a big reason the mall suffered," said Fred Kane. As a broker with the firm Cassidy Turley, he is representing the twin sisters selling their land to Oldacre McDonald.
Oldacre McDonald held the first of three community meetings on Oct. 30. The company hopes to have plans to submit to Metro government in December.
McDonald expects to officially buy the land needed in the first part of 2015. He declined to disclose the expected purchase price.
It likely will be late 2016 or early 2017 before the first elements open, McDonald said.
Metro government has worked to revive the old Hickory Hollow mall (now renamed the Global Mall at the Crossings). This year, the Nashville Predators opened a practice ice rink there.
A major hope is keeping sales tax revenue in Davidson County, money currently spent at any number of shopping malls elsewhere. Dowell, for one, can't wait to shop locally.
"I go to Rutherford County to shop. I go to Mt. Juliet to shop. Now, I'll just be shopping in my own neighborhood," Dowell said.
BY ADAM SICHKO, NASHVILLE BUSINESS JOURNAL
Posted: Friday, October 31, 2014
Link: www.bizjournals.com/nashville/
A Nashville development duo is pursuing a 300-acre site for a massive project involving retail, office space, condos and apartments — in Antioch, about 15 miles southeast of downtown.
It's really an act of defiance, when you consider Antioch's prevailing perception among major retailers as a dead market. They need only point to how activity at the old Hickory Hollow Mall has withered to nearly nothing.
In fact, it wasn't until after Target closed its Antioch store that Bill Oldacre and Mark McDonald even considered doing anything in that part of the Nashville market. Initially, even they weren't true believers.
"I'm guilty, just like everyone else, of misunderstanding Antioch," said Mark McDonald, one half of the firm Oldacre McDonald LLC. "That's something Nashvillians perceive. People from out of town, they see it without those blinders.
"There are not 300-acre tracts of land anywhere in Davidson County with the potential to expand an interstate exit and have great access. And there sure aren't 300 acres of property available in what has been the county's fastest-growing zip code, four or five years running," McDonald told me. "We have traffic counts, population density and disposable income — in spades."
Locally, Oldacre McDonald is best known as co-developer of the Nashville West shopping center along Charlotte Pike, teaming with The Parkes Cos. It's one of Nashville's biggest and most popular shopping centers, featuring chain retailers such as World Market, Dick's Sporting Goods, Target and Best Buy.
For perspective, Nashville West is 65 acres in size. The proposed development in Antioch is almost five times as large. The land is located at exit 60 of Interstate 24, on the other side of the highway from the former Hickory Hollow Mall.
"Every corridor going out of Nashville has a major shopping district. Southeast, there's really nothing. It's a piece of property so unique, we feel it's like the 'Field of Dreams:' Build it and they will come," McDonald said, a twist on the famous line from the movie of the same name.
For Antioch, the development promises to revive the economy that was once there, said Metro Councilwoman Jacobia Dowell.
"We were a destination-shopping community. Losing the mall, a lot of people lost a sense of community," Dowell said.
McDonald is the first to acknowledge he'll need a stellar sales pitch to persuade gun-shy retailers. "Retailers move with a herd instinct. We are having to overcome some preconceived notions in the broker community," McDonald said. "If we set the table right, it should be attractive."
"Yes, the mall died. But let's face it, a whole lot of malls died. That had more to do with a bad mall owner than a lack of business," McDonald said.
This project is about much more than retail. McDonald said top-grade Class A office space will be a component, as well as some mix of condos and apartments, and perhaps even a retirement community. McDonald said he wants to ensure there's ample green space for residents, workers and shoppers to enjoy.
At this point, we're very early in the development process. McDonald said he could not forecast a price tag, or the total amount of retail, office or residential space that will be built.
Oldacre McDonald is under contract to buy the land necessary, currently owned by two people: Lee Beaman, the head of Beaman Automotive Group, and twin sisters who call their land Century Farms.
A critical piece will involve the state, after many years of inaction, finally expanding the interchange at exit 60 of Interstate 2 — attempting to steer traffic off of Bell Road.
"Traffic is a nightmare up there, and that's a big reason the mall suffered," said Fred Kane. As a broker with the firm Cassidy Turley, he is representing the twin sisters selling their land to Oldacre McDonald.
Oldacre McDonald held the first of three community meetings on Oct. 30. The company hopes to have plans to submit to Metro government in December.
McDonald expects to officially buy the land needed in the first part of 2015. He declined to disclose the expected purchase price.
It likely will be late 2016 or early 2017 before the first elements open, McDonald said.
Metro government has worked to revive the old Hickory Hollow mall (now renamed the Global Mall at the Crossings). This year, the Nashville Predators opened a practice ice rink there.
A major hope is keeping sales tax revenue in Davidson County, money currently spent at any number of shopping malls elsewhere. Dowell, for one, can't wait to shop locally.
"I go to Rutherford County to shop. I go to Mt. Juliet to shop. Now, I'll just be shopping in my own neighborhood," Dowell said.
Developer reveals partner for mixed-use Antioch site
BY GETAHN WARD, THE TENNESSEEAN
Posted: Friday, October 31, 2014
Link: www.tennessean.com
When Bill Oldacre looks at the vacant former Target store on part of 300 acres he and others plan to develop in Antioch, he recalls the abandoned former Walmart store site now part of the thriving Nashville West shopping center across town.
"There were some doubters out there that retail would work in that location, but we were confident that there was demand and there was an underserved neighborhood," said the partner in Oldacre McDonald LLC, co-developer of Nashville West.
A year after buying the former Target on Cane Ridge Road, Oldacre McDonald is gearing up efforts to develop that 15-acre site plus 290 adjacent acres it has under contract. But the vision extends beyond retail to residences and offices. The mixed-use concept still hinges on the developers getting specific plan zoning and the state to complete the partially built Hickory Hollow Parkway interchange off Interstate 24.
This week, Oldacre McDonald took a step forward with the first of three community meetings with Antioch residents. The developer revealed Atlanta-based TPA Group as its development partner for the project with Barge Waggoner Sumner and Cannon the engineer and Hastings Architecture Associates the lead architect.
After the meeting, residents who have watched their area lose retailers such as Target, Macy's and Sears were asked to list five things they would like to see and five they wouldn't want at the development.
Fran Bush, a mother to five boys, wants more kid-friendly activities.
"Normally, we always have to challenge developers because they didn't allow us community input, so we're excited about this opportunity and believe change is coming," she said.
Retiree Rick Glass wants walking paths geared towards seniors, more shopping options as well as a fine-dining restaurant.
At a second meeting Thursday, residents will work in groups focused on specific topics to help generate and investigate ideas. Developers will share results of the community input and details of a concept plan at another meeting on Nov. 17.
Oldacre sees the rezoning completed by early summer, adding the site and location and not tenants will drive the development.
With a modified Exit 60, motorists exiting off the interstate will be able to come to the West side of I-24 and into the heart of the proposed development without having to maneuver the Bell Road interchange.
"That will really open up accessibility in that area," said Bob Murphy, president at RPM Transportation Consultants LLC.
By year's end, a consultant the developer hired should provide the state's transportation department a draft of a study now underway. TDOT would then begin coordinating with the Federal Highway Administration to see if interchange modification is possible. But with TDOT now delaying $400 million in road projects until fiscal 2016 amid uncertainty over future federal funding, it's difficult to determine how soon any modification would occur.
The 290 acres Oldacre McDonald has under contract includes 130 acres where car dealer Lee Beaman once planned car dealerships as Hickory Hollow boomed. But after a downturn in retail that included losing former anchor Hickory Hollow Mall, the area is seeing new energy from reuse of that former mall property. HCA, Asurion and Drake Software also have brought jobs to meet a need for more daytime workers to support businesses. Only 10 percent of residents in that area's key 37013 and 37211 zip codes work there, with almost 20 percent commuting to work at downtown, Midtown and in Berry Hill, according to the Nashville Area Chamber of Commerce.
Oldacre said it was Metro's investments in the area that drew the developers' attention. Positive responses from brokers and others after the developers bought the Target store set in motion efforts to buy the Beaman land and another 160 acres of adjacent farmland the Turner sisters own.
Oldacre McDonald also found the area's demographics compelling, including population growth almost six times the rest of Davidson County, according to Chamber data. Almost 43 percent of households earn between $50,000 and $149,000 a year versus 28 percent in the rest of the county.
Oldacre also cited the second highest traffic for a retail area countywide with 159,000 cars a day as an appeal.
"We don't know of any other place in Davidson County where you have 300 undeveloped acres at a major interstate interchange," he said. "We've heard a few Doubting Thomases, but we're confident there's immense demand for a quality development."
Reach Getahn Ward at 615-726-5968 and on Twitter @Getahn.
If you go:
Oldacre McDonald plans two upcoming community meetings about its proposed mixed-use project in Antioch Both will be at the Lakeshore Christian Church at 5434 Belle Forge Lane E.
6 p.m., Thursday, Nov. 6: Community members will work with the development team to generate and investigate design ideas. Tables will be set up with maps. Each of the tables will be dedicated to discussion on specific topics such as traffic.
6 p.m., Monday, Nov. 17. Development team will present the results of community input and the details of a concept plan.
7 a.m.-noon, Saturday, Nov. 22. Oldacre McDonald will host a clean-up at its property site (vacant Target store location).
Bass Pro bringing star power to Aug. 20 opening at The Pinnacle
KEVIN CASTLE | BRISTOL HERALD COURIER
POSTED: Monday, August 4, 2014
LINK: www.tricities.com
BRISTOL, Tenn. — The official ribbon-cutting for Bass Pro Shops Outdoor World — billed as one of the company’s biggest and set for Aug. 20 at The Pinnacle development — will feature plenty of star power.
The public event will feature appearances and autograph sessions with Sprint Cup champion and NASCAR car owner Tony Stewart and former Philadelphia Eagles defensive tackle and current ESPN Radio host Mike Golic, according to details released Monday by Bass Pro.
TV fisherman Jimmy Houston will emcee the event, which begins at 6 p.m. and will feature Bass Pro Shops founder Johnny Morris, NBC Sports NASCAR analyst Wally Dallenbach Jr., Women’s Professional Billiards Association champion Jeanette “The Black Widow” Lee and syndicated fishing show host Hank Parker, the release states.
Many iconic outdoor venues, landmarks and pastimes are incorporated into the walls, décor and other features of the 100,000-square-foot outdoor store. Some of those include Bristol’s “A Good Place to Live” sign, a bear taxidermy display to represent the black bear area in the Bays Mountain section of Kingsport and Watauga Lake, which is prominently displayed in the fishing area, according to an earlier report from Bass Pro.
The event also serves as a fundraiser for a number of outdoor conservation organizations. Toyota and Morris’ Conservation Creel of the National Fish and Wildlife Foundation will match donations given that night to the Tennessee Wildlife Resources Foundation, Wonders of Wildlife and the American National Fish and Wildlife Museum.
The 68th store in the Bass Pro chain will have other grand opening events that will coincide with race week in Bristol, the company announced, including appearances Aug. 21 by Sprint Cup champion car owner Richard Childress, and his grandsons, Austin and Ty Dillon, who both drive cars co-sponsored by Bass Pro in the Sprint and Nationwide series.
KEVIN CASTLE | BRISTOL HERALD COURIER
POSTED: Monday, August 4, 2014
LINK: www.tricities.com
BRISTOL, Tenn. — The official ribbon-cutting for Bass Pro Shops Outdoor World — billed as one of the company’s biggest and set for Aug. 20 at The Pinnacle development — will feature plenty of star power.
The public event will feature appearances and autograph sessions with Sprint Cup champion and NASCAR car owner Tony Stewart and former Philadelphia Eagles defensive tackle and current ESPN Radio host Mike Golic, according to details released Monday by Bass Pro.
TV fisherman Jimmy Houston will emcee the event, which begins at 6 p.m. and will feature Bass Pro Shops founder Johnny Morris, NBC Sports NASCAR analyst Wally Dallenbach Jr., Women’s Professional Billiards Association champion Jeanette “The Black Widow” Lee and syndicated fishing show host Hank Parker, the release states.
Many iconic outdoor venues, landmarks and pastimes are incorporated into the walls, décor and other features of the 100,000-square-foot outdoor store. Some of those include Bristol’s “A Good Place to Live” sign, a bear taxidermy display to represent the black bear area in the Bays Mountain section of Kingsport and Watauga Lake, which is prominently displayed in the fishing area, according to an earlier report from Bass Pro.
The event also serves as a fundraiser for a number of outdoor conservation organizations. Toyota and Morris’ Conservation Creel of the National Fish and Wildlife Foundation will match donations given that night to the Tennessee Wildlife Resources Foundation, Wonders of Wildlife and the American National Fish and Wildlife Museum.
The 68th store in the Bass Pro chain will have other grand opening events that will coincide with race week in Bristol, the company announced, including appearances Aug. 21 by Sprint Cup champion car owner Richard Childress, and his grandsons, Austin and Ty Dillon, who both drive cars co-sponsored by Bass Pro in the Sprint and Nationwide series.
Opelika Economy Benefits From 10 Years of Tiger Town
Kristen Oliver | Opelika-Auburn News
Posted: Saturday, July 12, 2014
Link: www.oanow.com
Lee County residents along with visitors have stopped to shop and eat in the retail center off Interstate 85’s exit 58 for 10 years.
Little did they know, their visits to Tiger Town were instrumental in shaping and strengthening the city of Opelika’s economy.
Ten years ago this month, the first stores in Tiger Town opened in Opelika. Mayor Gary Fuller said the city needed a large retail center after losing several retailers to Auburn.
“Our retail choices were somewhat limited, because most of the big stores had moved out to the Village Mall,” Fuller said. “What Tiger Town has done is provide new, really good shopping opportunities for not only Lee County citizens, but folks from a number of miles around that come to Tiger Town to shop, eat or stay in one of the hotels.”
Fuller said nearly 35 years ago, Opelika had a Montgomery Fair, which became Dillard’s, a JcPenny and a Belk. All three stores closed in Opelika after moving to the then-new Village Mall in Auburn. Opelika also had a Carmike movie theater on Pepperell Parkway, but it closed after the Carmike Wynnsong opened a few miles away in Auburn.
In early 2002, development firm Newton Oldacre McDonald, LLC approached Fuller and the city about developing a retail center off I-85. Fuller said the firm sought the city’s help in incentivizing the new center, and the city agreed to build the public infrastructure.
Tiger Town opened a little more than a year later, but at first it wasn’t the busy center it is today. Suzanna Ozley, store manager at Old Navy, said originally Tiger Town was just the strip of shops from Office Depot to Petco.
Ozley, who worked for Old Navy’s parent company Gap Inc. in 2003, helped facilitate the new Old Navy store in Tiger Town a decade ago.
“It’s been pretty amazing to see it grow from just the little strip,” she said. “To see the amount of businesses that have come every year – I remember when Target came out and when Kohl’s came out. … It’s been really nice to see that because it allows people to stay here to shop, instead of having to drive to Montgomery or Columbus.”
Jan Gunter, community relations specialist for the city of Opelika, said Tiger Town helped Opelika survive the tough economic times in the late 2000s.
“Many communities, especially back in 2008 and 2009, were having to cut back on the services they offered to their communities,” she said. “They had to furlough employees; they did not hand out raises …. The bottom line is the city of Opelika never had to cut any employees, salaries, services and retail areas like Tiger Town continued to hold on and now they’re thriving.”
Gunter credited the mayor, the city council and city departments with cutting back and trimming their budgets enough during that time to keep city services afloat.
“We kept the infrastructure going so that businesses in our area could continue to grow and retailers could certainly have a favorable environment,” Gunter said. “Even though it was tough times for everybody, Opelika was still a favorable environment for retailers and industry.”
Today, Tiger Town has approximately 1 million square feet of retail space, excluding hotels, offices, banks and nearly 20 restaurants. The proximity of so many stores and restaurants is one of the things that makes Tiger Town successful, according to Chris Rosso, assistant manager at Petco, one of the first stores in TigerTown 10 years ago.
“The convenience is the biggest thing,” he said. “Everything is here in one location and it’s building up even more.”
Ozley called Tiger Town “a lifestyle center,” saying such outdoor shopping centers are becoming increasingly popular across the country.
Fuller said Tiger Town’s proximity to the interstate allows it and the city of Opelika to become a popular stop for visitors. He said its success over the years has been essential for Opelika, and he hopes to see it continue to grow in the future.
“It’s meant a great deal for our tax base and the things the city can support, including Opelika City Schools, so we’re very happy with it,” he said.
Kristen Oliver | Opelika-Auburn News
Posted: Saturday, July 12, 2014
Link: www.oanow.com
Lee County residents along with visitors have stopped to shop and eat in the retail center off Interstate 85’s exit 58 for 10 years.
Little did they know, their visits to Tiger Town were instrumental in shaping and strengthening the city of Opelika’s economy.
Ten years ago this month, the first stores in Tiger Town opened in Opelika. Mayor Gary Fuller said the city needed a large retail center after losing several retailers to Auburn.
“Our retail choices were somewhat limited, because most of the big stores had moved out to the Village Mall,” Fuller said. “What Tiger Town has done is provide new, really good shopping opportunities for not only Lee County citizens, but folks from a number of miles around that come to Tiger Town to shop, eat or stay in one of the hotels.”
Fuller said nearly 35 years ago, Opelika had a Montgomery Fair, which became Dillard’s, a JcPenny and a Belk. All three stores closed in Opelika after moving to the then-new Village Mall in Auburn. Opelika also had a Carmike movie theater on Pepperell Parkway, but it closed after the Carmike Wynnsong opened a few miles away in Auburn.
In early 2002, development firm Newton Oldacre McDonald, LLC approached Fuller and the city about developing a retail center off I-85. Fuller said the firm sought the city’s help in incentivizing the new center, and the city agreed to build the public infrastructure.
Tiger Town opened a little more than a year later, but at first it wasn’t the busy center it is today. Suzanna Ozley, store manager at Old Navy, said originally Tiger Town was just the strip of shops from Office Depot to Petco.
Ozley, who worked for Old Navy’s parent company Gap Inc. in 2003, helped facilitate the new Old Navy store in Tiger Town a decade ago.
“It’s been pretty amazing to see it grow from just the little strip,” she said. “To see the amount of businesses that have come every year – I remember when Target came out and when Kohl’s came out. … It’s been really nice to see that because it allows people to stay here to shop, instead of having to drive to Montgomery or Columbus.”
Jan Gunter, community relations specialist for the city of Opelika, said Tiger Town helped Opelika survive the tough economic times in the late 2000s.
“Many communities, especially back in 2008 and 2009, were having to cut back on the services they offered to their communities,” she said. “They had to furlough employees; they did not hand out raises …. The bottom line is the city of Opelika never had to cut any employees, salaries, services and retail areas like Tiger Town continued to hold on and now they’re thriving.”
Gunter credited the mayor, the city council and city departments with cutting back and trimming their budgets enough during that time to keep city services afloat.
“We kept the infrastructure going so that businesses in our area could continue to grow and retailers could certainly have a favorable environment,” Gunter said. “Even though it was tough times for everybody, Opelika was still a favorable environment for retailers and industry.”
Today, Tiger Town has approximately 1 million square feet of retail space, excluding hotels, offices, banks and nearly 20 restaurants. The proximity of so many stores and restaurants is one of the things that makes Tiger Town successful, according to Chris Rosso, assistant manager at Petco, one of the first stores in TigerTown 10 years ago.
“The convenience is the biggest thing,” he said. “Everything is here in one location and it’s building up even more.”
Ozley called Tiger Town “a lifestyle center,” saying such outdoor shopping centers are becoming increasingly popular across the country.
Fuller said Tiger Town’s proximity to the interstate allows it and the city of Opelika to become a popular stop for visitors. He said its success over the years has been essential for Opelika, and he hopes to see it continue to grow in the future.
“It’s meant a great deal for our tax base and the things the city can support, including Opelika City Schools, so we’re very happy with it,” he said.
The Pinnacle: Marshalls, Michaels, others sign up
BY DAVID MCGEE | BRISTOL HERALD COURIER
Posted: Tuesday, November 26, 2013
Link: www.tricities.com
BRISTOL, Tenn. – Six national retailers unique to the Twin City and a 12-screen movie theater will become part of The Pinnacle commercial development.
That list includes the region’s first Marshalls store, which is expected to join previously announced anchor tenants Bass Pro Shop and Belk at the sprawling center taking shape near Interstate 81’s Exit 74. Project developer Steve Johnson said Tuesday he plans to make many such announcements in the coming months.
“Once you get Bass Pro and Belk, the next step was to create as much unique and different assemblage of retailers, restaurants and entertainment that you could – taking advantage of the strength of the demographic and the power of the two anchor tenants,” Johnson said. “Then you add the power shop tenants and we will have the only Marshalls this market has. We’ll have Michael’s, Pier 1 Imports, Ulta, Kirkland’s and Shoe Carnival. They’re all great.”
Marshalls offers apparel, shoes and accessories for women, men and children and is part of the same corporation as retailer T.J. Maxx. Michael’s is a craft and hobby store, Pier 1 and Kirklands supply home decor, Ulta is a cosmetics retailer and Shoe Carnival offers shoes and boots.
Those newly announced tenants are part of more than 500,000 square feet of retail and restaurants, including Belk, to be located on the site’s north pad. That section and a number of outparcel businesses are expected to open in March 2015, Johnson said.
The Pinnacle 12 by Marquee is scheduled to be a 54,000-square-foot cinema complex that will include special seating, state-of-the art audio and video, Johnson said.
“The Pinnacle 12 by Marquee will have a luxury seating package and there isn’t anything else like it in the region,” Johnson said.
It is also expected to open in March 2015.
During a visit to the site last week, Bass Pro founder and CEO Johnny Morris said he looks forward to seeing the site develop.
“Steve shared with me a list of the other retailers and specialty shops and restaurants. It’s very impressive,” Morris said. “I believe this has the potential to be one of the largest retail developments happening anywhere in the country. We are excited to be able to come here.”
Johnson said he is currently working with more than 80 businesses to locate in the center.
“Retailers -- irregardless of your site, access, visibility and strength of a market -- they really do have a herd mentality. Everybody knows each other and they all talk, so there’s a lot of buy-in along the way. It takes a lot of effort to get the herd all headed in the right direction,” Johnson said.
The Pinnacle is being constructed on the former Bristol West property that languished unoccupied for years. Work is currently occurring on about 200 acres in Bristol, Tenn., but Johnson also controls an adjoining 200 acres in Washington County, Va. Long-range plans also include extending the development across that land.
Part of the work will include the addition of a 300,000-gallon water tank to satisfy the center’s expected demand.
Former Antioch Target Building Gets New Owner
BY GETAHN WARD, THE TENNESSEEAN
Posted: Friday, July 26, 2013
Link: www.tennessean.com
NASHVILLE, Tenn.-- Nashville-based real estate firm Oldacre McDonald LLC has completed its purchase of the former Target store in Antioch for $2.7 million.
The property, located at 5330 Cane Ridge Road, has sat vacant since the Minneapolis-based retailer closed the store about five months ago.
“We are currently exploring ways to most effectively enhance the property and the area,” Oldacre McDonald said in a statement.
The company, which specializes in shopping centers and single tenant buildings, said any development would be consistent with the approach it has successfully implemented at many other centers including Nashville West.
Investments Oldacre McDonald made in co-developing Nashville West shopping center served as a magnet for other private investment along Nashville’s Charlotte Pike, officials added.
Target had an asking price of $2.85 million, or $24.47 per square foot, for the 116,467-square-foot building that sits on 12.4 acres near Bell Road and Interstate 24 in Antioch.
Oldacre McDonald said the acquisition was in part a response to an invitation extended to private investors by Nashville Mayor Karl Dean, community leaders and other businesses in the area to join them in helping the neighborhood to achieve its potential.
Jim Morris, a retail capital markets broker with commercial real estate brokerage CBRE, marketed the site for Target.
BY GETAHN WARD, THE TENNESSEEAN
Posted: Friday, July 26, 2013
Link: www.tennessean.com
NASHVILLE, Tenn.-- Nashville-based real estate firm Oldacre McDonald LLC has completed its purchase of the former Target store in Antioch for $2.7 million.
The property, located at 5330 Cane Ridge Road, has sat vacant since the Minneapolis-based retailer closed the store about five months ago.
“We are currently exploring ways to most effectively enhance the property and the area,” Oldacre McDonald said in a statement.
The company, which specializes in shopping centers and single tenant buildings, said any development would be consistent with the approach it has successfully implemented at many other centers including Nashville West.
Investments Oldacre McDonald made in co-developing Nashville West shopping center served as a magnet for other private investment along Nashville’s Charlotte Pike, officials added.
Target had an asking price of $2.85 million, or $24.47 per square foot, for the 116,467-square-foot building that sits on 12.4 acres near Bell Road and Interstate 24 in Antioch.
Oldacre McDonald said the acquisition was in part a response to an invitation extended to private investors by Nashville Mayor Karl Dean, community leaders and other businesses in the area to join them in helping the neighborhood to achieve its potential.
Jim Morris, a retail capital markets broker with commercial real estate brokerage CBRE, marketed the site for Target.
Belk Breaks Ground for New Retail Store at The Pinnacle
Tennessee Lt. Governor, Ron Ramsey
Posted: Wednesday, May 15, 2013
BRISTOL, Tenn.—On Wednesday morning, at a signal from officials representing Belk, Inc. and Johnson Commercial Development, construction crews broke ground on the new Belk fashion store at The Pinnacle, the massive mixed-use retail center located at Exit 74 off Interstate 81 and Highway 11W in Bristol, Tenn.
Tennessee Lt. Gov. Ron Ramsey, Bristol Tennessee Mayor Joel Staton and Sullivan County Mayor Steve Godsey headed the list of legislative dignitaries at the event, which took place a few feet from the site where Belk will be located.
Wednesday’s groundbreaking ceremony served as the official starting point for the second major anchor for The Pinnacle. Bass Pro Shops began construction at The Pinnacle in January of this year.
“Exit 74 is a significant part of our strategic economic development plan for the city, and now it’s well on its way,” Staton said. “With Belk and Bass Pro Shops as major tenants in this project, The Pinnacle is off to a phenomenal beginning. We expect to see additional anchors, specialty shops, restaurants and other tenants to quickly join these outstanding retailers.”
Belk is relocating its store at Bristol Mall in Bristol, Va., to a two-level, 132,000-square-foot fashion store at The Pinnacle. The Belk store at the Bristol Mall in Bristol, Va., will continue to operate until the relocation, planned for spring 2015.
“This is an exciting day for us as we anticipate the opening of a brand new Belk store for Bristol and the Tri-Cities,” said Dixie Minatra, vice president and regional manager, Belk Knoxville region. “The Pinnacle is ideally located for customers across the region, and our new store will allow us to create a fabulous new shopping experience and demonstrate our continued commitment to serving this community with the best in Modern.Southern.Style.”
A 250-acre, open-air development, The Pinnacle is the largest project of its kind currently under way in the United States. A variety of additional junior anchor retail and specialty stores unique to the market are also anticipated to locate at The Pinnacle, which is designed to accommodate 1.3 million square feet of retail, restaurant, hotel, medical office space and an outdoor amphitheater.
“This is a significant step forward for The Pinnacle,” added Steve Johnson, whose firm is developing the project. “Belk’s decision to become one of our anchors will most certainly enhance the desirability of this location and accelerate our opportunities to bring in other national retailers.”
Charlotte, N.C.-based Belk, Inc. is the nation’s largest family-owned-and-operated department store company, with 301 Belk stores in 16 Southern states. The new Belk store at The Pinnacle represents a $20 million investment and will incorporate the latest in retail design, lighting, merchandise presentation and décor. It will offer expanded assortments of the top premium and national brands, exclusive Belk private brands, the latest styles of fashion apparel, shoes and accessories for the whole family, plus large selections of cosmetics and home merchandise.
BRISTOL, Tenn.—On Wednesday morning, at a signal from officials representing Belk, Inc. and Johnson Commercial Development, construction crews broke ground on the new Belk fashion store at The Pinnacle, the massive mixed-use retail center located at Exit 74 off Interstate 81 and Highway 11W in Bristol, Tenn.
Tennessee Lt. Gov. Ron Ramsey, Bristol Tennessee Mayor Joel Staton and Sullivan County Mayor Steve Godsey headed the list of legislative dignitaries at the event, which took place a few feet from the site where Belk will be located.
Wednesday’s groundbreaking ceremony served as the official starting point for the second major anchor for The Pinnacle. Bass Pro Shops began construction at The Pinnacle in January of this year.
“Exit 74 is a significant part of our strategic economic development plan for the city, and now it’s well on its way,” Staton said. “With Belk and Bass Pro Shops as major tenants in this project, The Pinnacle is off to a phenomenal beginning. We expect to see additional anchors, specialty shops, restaurants and other tenants to quickly join these outstanding retailers.”
Belk is relocating its store at Bristol Mall in Bristol, Va., to a two-level, 132,000-square-foot fashion store at The Pinnacle. The Belk store at the Bristol Mall in Bristol, Va., will continue to operate until the relocation, planned for spring 2015.
“This is an exciting day for us as we anticipate the opening of a brand new Belk store for Bristol and the Tri-Cities,” said Dixie Minatra, vice president and regional manager, Belk Knoxville region. “The Pinnacle is ideally located for customers across the region, and our new store will allow us to create a fabulous new shopping experience and demonstrate our continued commitment to serving this community with the best in Modern.Southern.Style.”
A 250-acre, open-air development, The Pinnacle is the largest project of its kind currently under way in the United States. A variety of additional junior anchor retail and specialty stores unique to the market are also anticipated to locate at The Pinnacle, which is designed to accommodate 1.3 million square feet of retail, restaurant, hotel, medical office space and an outdoor amphitheater.
“This is a significant step forward for The Pinnacle,” added Steve Johnson, whose firm is developing the project. “Belk’s decision to become one of our anchors will most certainly enhance the desirability of this location and accelerate our opportunities to bring in other national retailers.”
Charlotte, N.C.-based Belk, Inc. is the nation’s largest family-owned-and-operated department store company, with 301 Belk stores in 16 Southern states. The new Belk store at The Pinnacle represents a $20 million investment and will incorporate the latest in retail design, lighting, merchandise presentation and décor. It will offer expanded assortments of the top premium and national brands, exclusive Belk private brands, the latest styles of fashion apparel, shoes and accessories for the whole family, plus large selections of cosmetics and home merchandise.
Bill Oldacre
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Mark McDonald
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