Whole Foods Market has signed a lease at Ellis Preserve
in Newtown Square, Pa., and will serve as the anchor for the first phase of the
retail portion of the 210-acre mixed-use development.
The grocer leased 41,700 square feet and the store will
have direct access from Route 3 and Winding Way.
Equus Capital Partners, the Philadelphia developer of
Ellis Preserve, plans to construct a total of 114,000 square feet of retail space
in the first phase. A portion of that space will be occupied by Whole Foods and
the remaining 72,300 square feet will be leased to other tenants.
Equus will seek to fill that space with a "high-end
mix of shops and restaurants," said Steven Spaeder of Equus Capital.
"Whole Foods use and the architecture will set the tone. Walnut Street
will be our prospecting turf."
The first phase will also include constructing a 127-room
hotel. Work is scheduled to begin on the project in the spring.
Whole Foods was represented by Ken Bleznak of Atlantic
Retail. Steve Niggeman of Metro Commercial represented the landlord.
Equus Capital's plans for Ellis Preserve include the
future construction of 350,000 square feet of retail space, 310 apartments, 100
townhouses and a 270,000-square-foot office building.
Source: Philadelphia
Business Journal
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