The Plaza Galleria building on Independence Street in Cape Girardeau was demolished this summer, and the site is now being marketed as a "prime retail/commercial redevelopment site," according to Tom Kelsey, broker and president of Lorimont Place Ltd., who represents the property. "With 6.86 acres in a prime central city location, we believe it will be attractive to retailers or others who want to be close in to residential neighborhoods," he says. He adds that the site has garnered interest from some "national prospects," but it will be several months before anything definite can be announced. Before demolition, the 56,000-square-foot Plaza Galleria building had sat empty since 2005. It once housed the city's first supermarket, and later an ice-skating rink and shopping center.
CVS Pharmacy coming to Cape, Sikeston, Poplar Bluff
Family Dollar Stores
Family Dollar Stores are also new to the retail scene in Southeast Missouri. A Family Dollar is slated to open at 720 William St. in Cape Girardeau in 2014. A store was also built at 711 E. Jackson Blvd., at the site of the former El Torero restaurant in Jackson. Meanwhile, Family Dollar opened in August at 108 Conrad St. in Marble Hill, Mo. Family Dollar was founded in 1959 in Charlotte, N.C., and has grown to more than 7,200 stores in 45 states across the U.S.
Menards in Poplar Bluff
The Greater Poplar Bluff Area Chamber of Commerce held a groundbreaking June 25 for Menards, the Daily American Republic reported. The home improvement business, based in Eau Claire, Wis., plans to build a 162,340-square-foot retail store and a wholesale lumber warehouse between the signal at Poplar Bluff Regional Medical Center and the northbound ramps at the new Bypass 67 interchange. The nearly 19-acre site was purchased from the developers of the Eight Points Commercial Development. The site will also include a parking lot for 442 vehicles. Jeff Abbott, spokesman at Menards' headquarters, said the store will open sometime in 2014, making it the ninth Menards store in Missouri. Cape Girardeau's Menards store opened in May 2012.
Ground was broken July 9 for a new 73-room Holiday Inn Express in Sikeston, the Standard Democrat reported. The new motel, owned by Select Sikeston Hospitality, will be on Hospitality Drive adjacent to the new Colton's Steak House. According to Paul Williams, head of Select Sikeston Hospitality, the 73 rooms will be a mix of room types, including suites and family suites. There will be a heated indoor pool and a larger-than-average lobby and breakfast area.
Market Place Food Store building in Sikeston
Kelsey is also working on possibilities for the former Market Place Food Store in Sikeston, Mo. The 60,000-square-foot building is one of the largest available retail buildings in the city, he says, and he already has a pending contract that could bring at least two national retailers to the building. "The prospective buyer is now in a period of their final inspections and negotiations and we are hopeful to announce soon that it is a closed transaction," says Kelsey.
Valley Plaza in Poplar Bluff
After purchasing Valley Plaza in August 2012, Jim Bailey has been renovating the 201,000-square-foot development and attracting new retailers. The latest to join the development is Dunham's Sports, which leased 44,000 square feet in the former Newberry's location as well as an adjacent location. The sporting goods store opened Aug. 16, making it the firm's second store in Missouri.
Bailey is also responsible for purchasing the Mansion Mall in 2005, completely reconstructing it and bringing new retailers to the development. A few current tenants include Payless Shoe Source, Buffalo Wild Wings, Dollar General and AT&T Wireless. In August, Midali's Cheesecakes and Confections was added to Mansion Mall.
Industrial and business parks in Perryville, Cape and Poplar Bluff
In July, the U.S. Department of Commerce announced a $1.5 million grant to help build a roadway for the Perryville Industrial Park. Missouri officials say the money will go toward construction of a two-mile road, including acquisition of the land. The road will allow two existing businesses to expand and help the park accommodate more tenants in the future. Chauncy Buchheit, executive director of the Southeast Missouri Regional Planning Commission, said the road will help the entire industrial park and relieve traffic issues that have developed from truck traffic. The Missouri Department of Transportation is a partner on the project and will match Economic Development Administration funding, he said. Buchheit said preliminary work on the roadway will begin as soon as possible.
In Butler County, a grant of $250,000 will go toward improvements at the Poplar Bluff Industrial Park, according to Steve Halter, president of the Greater Poplar Bluff Area Chamber of Commerce. Additionally, the site's last remaining manufacturing facility is now under contract, he says: "Gates Corporation is almost complete with renovations on a 60,000-square-foot building that they are converting from a warehouse to a distribution center."
Cape Girardeau is planning a new business park, though zoning is still being negotiated. The area lies in the southeastern part of city land closest to two residential subdivisions, Whispering Oaks and Meadows of Whispering Oaks. Other property included in the area to be rezoned for the business park is east of Interstate 55 north and south of La Salle Avenue. Cape Girardeau City Council members said the overall plan for the business park is to have a campus-type theme, including walking trails, green space and ponds near businesses and smaller-scale distribution centers. According to Cape Girardeau Mayor Harry Rediger, tentative plans for the business park's first possible tenant are to house it in a complex of three upscale brick buildings. City officials have not yet commented on the potential tenant.
BANTERRA CENTRE IN CAPE GIRARDEAU
Banterra Centre, a brand-new upscale office building in Cape Girardeau, was completed in April at 1650 N. Kingshighway in Cape Girardeau. The building has about 25,000 square feet of leasable space, with current tenants including Banterra Bank and the law firm of Layton & Southard (opening Sept. 1), according to Scott Rhodes of The Rhodes Group. He hopes to fill the rest of the space with professional tenants, as well as a restaurant on the first floor. With its prime location near the intersection of North Kingshighway, Mount Auburn Road and Lexington Avenue, Banterra Centre is sure to fill quickly.