'The Avenue Chenal' Plans Announced.Deltic Timber Corp; said it has contracted to sell 38 acres of Chenal Valley real estate to an Atlanta-based real estate developer that plans to build an upscale shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into on the west Little Rock property. Cousins Properties Inc., one of the country's largest real estate investment trusts, will build the 320,000-SF project at the southwest corner of Chenal Parkway and Rahling Road, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. El Dorado-based Deltic, a timber and real estate development company. The long-anticipated shopping center should be open by spring 2002. The deal is subject to preconditions -- including due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by Cousins -- and won't actually close until this fall, according to Jack McCray, general manager of Deltic's real estate division. Terms of the deal won't be released until that time, he said. Lisa Simmons, a spokesman for Cousins, wouldn't comment on the development and even declined to acknowledge a deal existed. The site was designated for commercial retail use in Deltic's original 1986 Chenal Valley master plan, McCray said. Cousins approached Deltic a little over a year ago about buying and developing the property, which is centrally located among the new, upscale homes in the area. "They have financial stability and a proven track record of quality developments," McCray said. "We think it's another piece of the puzzle that adds to the overall quality of life in our development." The shopping center -- to be called The Avenue Chenal -- will be similar to other Cousins "Avenue" projects in Atlanta and California, McCray said. The concept is to put traditional mall merchants in "upscale open air" shopping centers that cater to affluent neighborhoods. McCray said he was bound by a confidentiality agreement not to comment on tenants for The Avenue Chenal. Tenants at some of the other Avenue projects include Saks Fifth Avenue Saks Fifth Avenue is a chain of upscale American department stores that is owned and operated by Saks Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes in the elite luxury department store market with Neiman Marcus, Bergdorf Goodman and Barneys New , Gap, Pottery Barn Pottery Barn is an American-based chain of home furnishing stores with stores in the United States and Canada. It is a wholly owned subsidiary of Williams-Sonoma, Inc. History and Williams-Sonoma. Cousins is a publicly traded real estate investment trust that invests in office, retail, medical and land development projects. Its stock trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "CUZ CUZ Because cuz Cousin CUZ Cuzco, Peru - Tte Velazco Astete (Airport Code) ." Deltic owns 442,000 acres of land in Arkansas and north Louisiana, including 395,000 acres of timberland. The company recently put 35,000 acres of northeastern Louisiana row-crop land on the market. |
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