Busy corner in Cape being redeveloped

Saturday, May 15, 2004

Will be called Capaha Center

Business Today

Construction is under way at Broadway and Kingshighway in Cape Girardeau at the site of the former Super D Drugs, a rental center and Freedom Rock. All have vacated to make way for a new 27,500-square-foot development called Capaha Center.

Tom Kelsey, commercial broker with Lorimont Place Ltd., who is handling leasing for the development's owners, said there will be approximately 11,500 square feet of lease space available on the northern end of the building, which is closest to the high-traffic intersection of Broadway and Kingshighway.

Kelsey said the northern portion of the building has been opened up so new businesses will front Kingshighway. A façade will be constructed with windows and doors to give the building a fresh, modern look.

According to Kelsey, space sizes will range from 2,200 to 11,500 square feet and will be finished to tenants' specifications. Kelsey said he is working with several prospects that recognize the location as being prime for retail or office with ample parking and visibility.

"High traffic at one of Southeast Missouri's busiest intersections also is a big attraction," said Kelsey.

Eventually, Capaha Bank is expected to occupy the former Freedom Rock location for a branch bank complete with drive-through facilities. The bank has already begun construction of a drive-up ATM there. For many years, that portion of the building was occupied by Ward's Big Star and later occupied by a Save-a-Lot grocery store.

Exterior work on the center should be completed within the next 90 days.

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