| Six acres on Archdale Drive—for some years the proposed site of a mixed-use project called "Shops at Archdale Village"—is being offered by owner Catellus Group for $1.5M. The fact that the parcel is on the market doesn't mean that development on the site by Catellus is out of the question, given the right recovery-related circumstances, such as interest by anchor tenants. But the company will also entertain offers for the property as another possible course of action. Catellus CEO Ben Cassarino tells us that the Archdale Avenue location is right for mixed-use development. The site has visibility from I-77—something important for retail—and ease of access to downtown, which would be important to office or residential components. It's also primed and ready to go, with such important details as available utilities and mixed-use zoning already in place. |
CATELLUS PUTS PARCEL ON MARKET
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