James River Commons readies for Sam's Club construction

James River Commons is a multitenant retail development on 63 acres near James River Freeway and South Campbell Avenue, immediately north of the Springfield-Greene County Library Center.

A 150,000-square-foot Sam’s Club – Springfield’s second – on the west end of the property will anchor the development. Sam’s Club is a division of Bentonville, Ark.-based Wal-Mart Stores Inc.

James River Commons is being co-developed by Columbia-based The Kroenke Group and Springfield-based Ron Stenger Cos., which partnered to purchase the former driving range property in 2005. Kroenke Group owner Stan Kroenke also owns the Denver Nuggets and Colorado Avalanche, and was one of Forbes’ 400 Richest Americans with a $3.5 billion net worth.

The developers recently asked Springfield City Council to extend the life of a community improvement taxing district for James River Commons by five years in response to project delays. The council is expected to vote on the request Sept. 29.

“Our optimism in when we were going to get the Sam’s Club built greatly exceeded the reality of the situation, and as a result, things have been backed up,” Columbia attorney Craig Van Matre told council at its Sept. 15 meeting. “And because of the change in the economic condition, the rental of other stores is being delayed.”

The Sam’s Club was originally scheduled to open in spring, but the completion date has been moved to late summer or early fall, said Van Matre, who represents the developers. Wal-Mart is expected to select a general contractor shortly, with construction slated to begin some time next month, he added. Aurora-based Kenny Singer Construction was hired to perform site excavation work, which is nearly complete.

Tenant demand for the development’s remaining 150,000 square feet of retail space – divided between two strip centers to be built east of Sam’s – has been lower than anticipated, Van Matre said.

The quest for a “mini-anchor” tenant, such as a sporting goods retailer or hardware store, has proved to be perhaps the biggest challenge, he added, noting that the ideal retailer would occupy about 40,000 square feet at James River Commons.

See SBJ’s Sept. 29 issue for more about the new Sam’s Club and James River Commons.