The Crossings at Four Corners
Located just 10 miles northwest of downtown Atlanta in Smyrna, Ga., The Crossings at Four Corners is currently undergoing a complete revitalization. The 153,000-sq.-ft. redevelopment, which officially broke ground on Feb. 8, includes the installation of a new traffic signal at the north end of the property, the renovation of approximately 60,000 sq. ft. of retail space and the addition of several outparcels. The true core of the project, however, will be the brand new, 96,000-sq.-ft. Kroger Food store.
Tri-Land acquired The Crossings at Four Corners in 2006. The Illinois-based redeveloper saw this as an opportunity to redevelop a premier 20-acre retail site located at the high profile intersection of South Cobb Drive and Concord Road in Smyrna. While a number of redevelopment options were explored, it was clear to Tri-Land that the Kroger Company operated an outdated and underutilized, thirty-year-old store located diagonally across the intersection from the property. Despite the weak economy and the pullback by many retailers on their expansion plans, Tri-Land and Kroger closed the purchase and sale of a 7.5 acre portion of the redevelopment site in December 2010 and the construction is now underway.
The new Kroger store will feature a floral department, an expanded bakery, a wide wine and beer selection, a gas station and a drive-thru pharmacy window. In addition to the headlining anchor, The Crossings redevelopment includes the complete renovation of the remaining 60, 000 sq. ft. of retail shops, including new facades, storefronts, roofs, interior improvements, three new entry points, and new paving, curbs, brick paver accent sidewalks, new high intensity parking lot lighting and substantial new landscaping.
Prior to beginning redevelopment, Tri-land de-leased the entire project to enable the redevelopment to move forward. The company has now begun a strategic re-tenanting process based on tenant mix and other leasing considerations, with outlots and further expansion scheduled to move forward in 2012. Phase I of the redevelopment is off to a great start and is scheduled for a November 2011 completion. When all is said and done, The Crossings will be a modern 230,000-sq.-ft., pedestrian-friendly community destination retail complex.