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Construction begins on fully-leased mall.

With 100 percent of its space already leased, construction has begun on Danbury Place, a major new 20,000-square-foot shopping center in Danbury, Connecticut.

The project, which will house Home Depot, two divisions of the Melville Corporation - Bob's Stores and Linens "N" Things - and Connecticut National Bank, is rising at the intersection of Nabby and Federal Roads directly across from the popular Stew Leonard's Dairy Store.

Danbury Place is being developed by a joint-venture partnership consisting of The Conroy Development Company, of Greenwich, and Ceruzzi Properties, of Westport.

The center will include a building that formally housed Jordan Marsh and is being remodeled to accommodate Bob's Stores and Linens "N" Things, which plan to open in November of this year. A new 120,000-square foot store is being constructed for Home Depot, which plans to open in January.

In addition to Stew Leonards, which opened directly across from his site last August, a new Costco members only discount warehouse recently opened in nearby Brookfield.

Based in Atlanta, Home Depot, which expects to employ about 200 people in its new Danbury facility, presently operates 158 stores in 14 states. It had sales last year of $3.8 billion.

Bob's Stores, which is based in, Meriden, has six stores in Connecticut and sells brand-name casual clothes. Linen "N" Things, headquartered in Clifton, NJ, sells bed and bath items and operates about 150 stores nationwide. Both are owned by Melville Corp., which operates over 8,500 stores nationwide, including Marshalls, CVS, Thom McAnn stores and Kay-Bee toy stores.

A major developer of shopping centers and office buildings, The Conroy Development Company recently completed One Fawcett Place in Greenwich and is currently involved in three major urban commercial developments in Providence, Rhode Island, Washington, DC, and White Plains, New York. Cenuzi Properties concentrates in the development and construction of suburban office space and retail "power-centers", having recently completed three Home Depot anchored projects in West Springfield, Massachusetts, Orange, Connecticut and Southington, Connecticut.

The partners have a number of other joint-venture retail projects in the predevelopment phase.
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Title Annotation:Danbury, Connecticut
Publication:Real Estate Weekly
Date:Sep 23, 1992
Previous Article:Horizon Media takes 25,000 sf.
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