NASHVILLE, TN – The local economy is booming once again in Nashville, with a new 20,000 square-foot retail center opening in 2013 at the Indian Lake Corridor.
Reportedly costing $3.7 million, the new “The Shoppes at Maple Corner” is set to provide high-end shopping beside the 60-acre Indian Lake Market, at the intersection of Maple Drive and Indian Lake Boulevard in Hendersonville. The site’s developer, P&M Investment Company, expects to open it by the first quarter of 2013.
“This is going to be a next-door shopping destination conveniently situated at the corner of Maple Lane,” says principal broker John Petty of Southeast Venture and P&M’s official representative. “We are focusing on a mix of franchises, national chains, as well as local mom-and-pops.”
This development comes with the surge in retail activity in the area. Over the last three months, establishments like Union University and Sam’s Club have opened there, adding to existing retailers like Home Depot and Super Walmart. According to P&M’s marketing studies, this has already driven the traffic count on Indian Lake Boulevard up from 18,000 to 26,000 cars per day. More commercial activity is expected within the next year, due to a Goodwill Industries project and 300 multifamily units already under construction, right across the street from the new shopping center.
“The Shoppes at Maple Corner” has already secured its first tenant, the upscale Sola Salon Studios, which will be leasing 4,300 square feet. There are currently 10,000 square feet of high-class retail space still available.
But Petty expects this vacancy to be filled quickly due to strong retailer demand. “We are expecting two food users,” he says. “We also have a drive-through space, which is not common for Indian Lake Boulevard, so we are utilizing that for a coffee-breakfast space.”
“The economy generally seems to be thawing, and retailers are slowly becoming active again,” Petty adds.
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