Loehmann's Plaza owners move forward with long-planned renovation, expansion

Retail projects can move slowly in the best of economies, much less in what some are now calling The Great Recession.

But one, at least, seems to be moving forward, with the filing of site plans by NC-based Glenwood Development Co. for the transformation of Loehmann's Plaza at I-85 and Hillandale Rd. into a more modern, grocery-anchored center.

The news, reported this morning in the H-S by reporter Monica Chen, confirms earlier reports that a proposal was still moving forward to build new outparcels along Hillandale to accommodate the shops currently in the strip mall, freeing up the existing building pad for a grocery store.

In late 2007 Chen broke the news that Harris Teeter might be destined for the center, a rumor that neither Glenwood Development officials nor spokespersons for Harris Teeter have been willing to confirm, though Chen's reporting notes that an announcement of an anchor tenant for a 53,000 sq. ft. grocer is hoped to be ready within thirty days.

H-Teet' participation in the project has revolved around the addition of a traffic light by NCDOT to provide better access to the site, something planned for in the four-laning of Hillandale from I-85 to Carver St.

According to the H-S, two new outparcel buildings joining SunTrust along Hillandale will become home to the center's Kerr Drugs and the strip's current retailers, who'll fill in 22,000 sq. ft. of retail in buildings that will also house offices. Once construction on those portions is complete, the existing center will be demolished to make way for a grocery store in the western portion of the site.

More good news: Glenwood reps tell the H-S that a solid anchor tenant plus a strong equity shape by the existing owners is predicted to mean few problems getting credit lined up to make the renovations happen.

Comments

[Stefanie]

Has anyone given consideration to Trader Joe's instead of Harris Teeter since there's already an H-T just a couple of miles down the road at Willowdale Shopping Center and no Trader Joe's anywhere in Durham?

[Anon]

Is there any new information about proposed renovations to leohmanns plaza??