The conversion of the remaining space at the Promenade Shops at Orchard Valley – plus some yet to be built - into premier outlet stores with the first expected to open by mid-2010 is creating the need for more nearby commercial.
Commercial real estate agents note that big retail draws such as regional malls, outlet malls and ultra-retailers such as Bass Pro Shops create traffic that tends to attract other commercial. Bass Pro Shop has had a million visitors in five months. Since the decision by Poag & McEwen to change direction and team up with Craig Realty Group to pursue premier outlets that means there will be a demand for traditional retail commercial when the economy picks up.
Developer Bill Filios hopes to be able to serve that demand with Union Crossing – 48.5 acres of retail and restaurants on the southwest corner of the Highway 120 Bypass and Union Road interchange.
It consists of three phases with 399,700 square feet of retail and 55,300 square feet of restaurant space.
Altogether, the 450,000 square feet is the equivalent of almost four Manteca Target stores in terms of retail space.
Union Crossing is directly west of The Promenade Shops at Orchard Valley that is anchored by Bass Pro Shops and JC Penney.
The Manteca Planning Commission meets at 7 p.m. tonight at the Civic Center, 1001 W. Center St., to review the project. The meeting will address a general plan amendment, prezone of six parcels, and annexation of six parcels, site plan review, planned development, development agreement, subdivision map, and master sign program.
Craig Realty Group has 11 upscale outlet centers with excess of 3.5 million square feet of retail. They will lease the next 225,000 square feet at Orchard Valley.
Negotiations are currently underway on the outlet mall tenants with several reportedly ready to commit. They are trying to line up the opening of the outlet mall to time with the economic recovery.
By converting the bulk of Orchard Valley to an outlet mall, it opens opportunities for Union Crossing to snare other retail that wants to be located near a large draw such as Bass Pro Shops and JC Penney.
Craig, who also had a hand in the designing and marketing of the outlet malls in Napa and St. Helena, noted the drawing power of Bass Pro Shops with customers traveling from a 100-mile radius, is a perfect fit to upscale malls that have the same drawing range. Making Manteca even more appealing for Craig is the fact it is the center of the third largest 100-mile radius market in the country. Manteca has 17 million consumers within 100 miles topped only by New York and Los Angeles.
Craig, though, said the growing economic muscle and demographics of the Northern San Joaquin Valley with its 1.2 million consumers was reason enough to partner with Poag & McEwen on the Manteca retail project.
Union Crossing is being envisioned as a three-phase project with completion in 2014.
To contact Dennis Wyatt, e-mail email@example.com