Glenstone Marketplace developer Brad Thessing yesterday gave a progress report on his sprawling retail center on the south side.
The more than $10 million, 100,000-square-foot center at 3333 S. Glenstone Ave. is on track for completion this fall, Thessing said, estimating an October or November opening that would occur before the holiday season starts. When demolition work of the Howard Johnson hotel
began in August 2015, Thessing estimated a late summer 2016 opening. The Fresh Market, the first tenant to sign on at the center that’s since
canceled its lease, had planned to open in fall 2016.
Thessing said the delay involves rerouting federal power lines, which has complicated the Glenstone Marketplace plans.
“It’s the federal government,” he said. “It’s a slow-moving process.”
Thessing and business partner Kevin Guffey of central Missouri-based American Realty & Development have worked with the Southwestern Power Administration, an agency within the U.S. Department of Energy. Southwestern Power, which operates and maintains 1,380 miles of high-voltage transmission lines, substations and a communications system, maintains a Springfield office at 2858 S. Golden Ave., according to its
website.
Construction — which has stalled in recent months — is expected to pick back up in the next few weeks, Thessing said. American Realty & Development is general contractor for the development designed by Springfield-based Sapp Design Associates Architects.
Currently, the 8-acre Glenstone Marketplace development site behind Target has steel framing for a portion of the retail center. Thessing said the existing structure is about half of the planned 100,000 square feet. The design includes parking and two lots available for future plans.
Last week, Springfield Sign installed a “coming soon” sign posted in front of Glenstone Marketplace for the Queen City’s first HomeGoods store. A photo of the sign
posted on Springfield Business Journal’s Facebook page has received 393 likes and 359 shares.
“People within our marketplace have seen HomeGoods stores in Kansas City, St. Louis or northwest Arkansas,” he said, noting the store would open around the same time Glenstone Marketplace launches. “It’s a very popular store.”
Thessing said he signed HomeGoods a few months ago to a long-term lease for 22,000 square feet. He declined to disclose the lease terms.
The Fresh Market, which had signed on as the anchor tenant for Glenstone Marketplace, closed all of its Missouri stores after it was bought out by Apollo Global Management LLC (NYSE: APO). Thessing said the company then worked with him and Guffey to find a replacement tenant to buy out their lease.
That came in the form of
Lucky’s Market, which plans to open in 28,000 square feet at Glenstone Marketplace in the third of fourth quarter.
Thessing said Glenstone Marketplace has a couple of other national tenants that have signed on to occupy space at the development. Declining to name them, he said one is a national shoe store.
