January 26, 2012
Boyle Investment Company has commenced the $9.5M redevelopment of The Crossings, a 110,229-square-foot shopping center located in the Donelson community of Nashville, at the northwest corner of Lebanon Pike and Fairway Drive.
Boyle purchased The Crossings in 2005 “because of its highly trafficked location on Lebanon Pike, dense demographics, and immediate proximity to the large daytime population of the airport office submarket,” said Phil Fawcett, managing partner of Boyle Nashville.
Boyle recognized The Crossings as the strongest retail location in the Donelson trade area, and saw an exciting opportunity for future redevelopment. According to Mark Traylor, director of retail leasing for Boyle, “Once the planned upgrades are complete, The Crossings will be the dominant retail destination in the Donelson area.”
As part of the redevelopment project, Boyle is building a brand new 49,533-square-foot Publix grocery store, which will include a drive-thru pharmacy. The new Publix will act as the anchor tenant for the shopping center.
Boyle is currently repositioning a portion of the shopping center to accommodate the Publix store, as well as developing two new retail buildings, which will provide an additional 16,400-square-feet of small shop retail and restaurant space. The rest of the shopping center will remain intact while the Publix is being built, and will receive significant improvements
Phil Claiborne, Councilman for the area, believes that “Boyle’s investment in the Donelson Community and the arrival of Publix will most certainly trigger other development along the Lebanon Road corridor. He continues to say that, “there’s a lot of excitement and anticipation on the part of the community for this project to move forward to completion, and that Boyle is helping to make Donelson a better place to live and work.”
Harbor Freight Tools has signed a new, long-term lease at The Crossings, and is currently relocating and expanding into a brand new space within the shopping center, with plans to reopen this Spring.
Boyle has also signed long-term leases with existing tenants H&R Block, Snappy Nails, Staffmark, and Studio FX, all of which will be relocating into newly renovated space within the center as well. New tenants include both Riverstone Wine Boutique & Spirits and Sylvan Park Diner. In keeping with the redevelopment of the shopping center, Burger King has also completed an extensive renovation to its current outparcel location.
Boyle is in talks with several other new tenants, including national brand name retailers and restaurants. Availabilities currently range from 1,200-6,200-square feet.
Once complete, The Crossings will total 133,769-square-feet, and feature such amenities as outdoor seating, additional parking, landscaping upgrades, a new façade, and other upgrades. The redevelopment process is scheduled for completion in the fall of 2012.
According to Grant Kinnett, who handles retail leasing for Boyle, “This is a rare opportunity for retailers and restaurants to take advantage of a brand new Publix development, located on one of Nashville’s busiest intersections, in a very densely populated trade area. We are very pleased with the timing of the redevelopment and the opportunity.”
Team members for the renovation include H. Michael Hindman- architect, and Barge Cauthen- engineer, with U.S. Bank providing the financing.
Boyle Investment Company is a 79-year old private, family developer with offices in Franklin and Memphis. Boyle Nashville has developed several mixed-use projects such as Meridian Cool Springs and Berry Farms, and has a retail portfolio of over 800,000-square-feet.