Lifestyle Center in northeast Birmingham attracts National Retailers
BIRMINGHAM, Ala., Nov. 24 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) has announced plans to develop Colonial Pinnacle at Tutwiler
Farm, a high quality suburban lifestyle center in northeast Birmingham,
Alabama. The Company also confirmed that Belk, Parisian, JC Penney and Best
Buy will anchor the center. Scheduled to open in October 2006, the four
anchors total 323,000 square feet, or 72 percent of the 450,000 square foot
development. Colonial Pinnacle at Tutwiler Farm which will be located in
Trussville near the intersection of I-59 and I-459 adjacent to Colonial
Promenade at Tutwiler Farm, an existing retail center anchored by Home Depot
and SuperTarget.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
The development of Colonial Pinnacle at Tutwiler Farm, a high quality
suburban lifestyle center, will bring new national retailers to the rapidly
growing northeast Birmingham area. In addition to Belk, Parisian, JC Penney
and Best Buy, Colonial Pinnacle at Tutwiler Farm will include large format
stores, specialty fashion retail and high-end restaurants into an intimate
shopping experience offering the affluent customer convenience, efficiency and
ambience.
Although Parisian, JC Penney and Best Buy have been a staple to the
Birmingham market for years this will be one of Belk's first stores in the
greater Birmingham area. Belk previously announced that it is opening two
other new stores in Alabaster and Guntersville in October 2005. Complementing
Colonial Pinnacle at Tutwiler Farm and the four anchors will be 126,000 square
feet of specialty retailers and lifestyle shops. Further, various restaurants,
banks and other retailers will occupy several outparcels on the site.
"Colonial Pinnacle at Tutwiler Farm will be a nice addition to northeast
Birmingham, complementing Colonial Properties' existing center," stated Thomas
H. Lowder, President and Chief Executive Officer of Colonial Properties Trust.
"The inclusion of Parisian, Belk, JC Penney and Best Buy will be a catalyst in
attracting other high-profile merchants."
Colonial Properties Trust is a diversified REIT that, through its
subsidiaries, owns a portfolio of multifamily, office and retail properties
where you live, work and shop in Alabama, Florida, Georgia, Mississippi, North
Carolina, South Carolina, Tennessee, Texas and Virginia. Colonial Properties
Trust performs development, acquisition, management, leasing and brokerage
services for its portfolio and properties owned by third parties. Colonial
Properties Trust is a diversified REIT, which has a total market
capitalization of $3.4 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy. The
Company manages or leases 22,400 apartment units, 6.8 million square feet of
office space and 15.7 million square feet of retail shopping space.
Additional information on Colonial Properties Trust is available on the
Internet at http://www.colonialprop.com . The Company, headquartered in
Birmingham, Ala., is listed on the New York Stock Exchange under the symbol
"CLP" and is included in the S&P SmallCap 600 Index.
SOURCE Colonial Properties Trust
 back to top
Related links:
http://www.colonialprop.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Linda S. Geiss, Vice President - Corporate
Affairs of Colonial Properties Trust, +1-205-250-8768
|
