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6/06/16
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Magnitude recently signed four anchor tenant deals at its Gran Plaza Power Center, a proposed 277k sf retail project in Calexico, CA. The signings total 149.8k sf and are with TJ Maxx (27.3k sf); Ross (30.5k sf); Stein Mart (32k sf) and Burlington Stores (60k sf).
The development is expected to break ground this summer with completion scheduled for mid-2017. The project includes an additional 330k sf of expansion area.
Gran Plaza Power Center will join the existing Gran Plaza Outlet center, nearby, which has 280k sf of fashion outlet retail tenants, including H&M, Nike Factory Store, Old Navy and The Gap. When completed, the combined total space of the outlet and power centers will be approximately 1 msf.
A new border crossing is also under construction adjacent to the project, which will provide ease of access to Mexicali. This new convenience is expected to create a very compelling border retail location for these properties.
Don Moser of Retail Insite is handling leasing of Gran Plaza Power Center.
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