KINGMAN – The buildings under tight construction between the Safeway grocery store and The Home Depot on North Stockton Hill Road will be used as a shopping center, a strong addition to the existing shopping area around Safeway.
The project is expected to be finished by the end of summer or early fall, said Jason Haun, representative of the developer, Sandor Development, and 15 to 20 retailers will immediately move in afterward. As the third phase of the company’s development plan in the area, the retail space in the new center will reach 36,000 square feet. The first two phases were the retail stores around Safeway.
So far, Aaron Equipment has already leased 6,000 square feet of retail space, and a fitness center is considering leasing a 2,500-square-foot parcel, and Remax will lease about 2,500 square feet. Sandor Development is also in discussion with a couple of companies about the leasing of smaller parcels, and some of them had promised to ink a deal pretty soon, said Haun, adding he is not authorized to reveal those names yet.
Two large parking lots will be paved right in front of the shopping mall, directly facing busy Stockton Hill Road. Stores there will be exposed to the largest passenger flows in the city. With such a crowd, Haun believes those retail spaces are ideal for small businesses that need convenient locations to showcase their businesses.
Sandor Development is one of the largest privately-owned retail owners in the country, managing 6.6 million square feet of retail space in 22 states.
The first and second phases, which were built around Safeway, were big successes for the company. All the retail spaces were rented out in a short time.
Judged by the enthusiasm from local retailers toward the third phase, Haun believes the new shopping center has every reason to repeat the success.
The shopping mall is Sandor Development’s latest project in the city and may be the last one for a little while. The company so far has no plans to develop new retail stores in town. But that can change anytime, Haun said. “We keep an eye on what is taking shape in Kingman closely, we might jump in any time (if there is a good project.)” he said.
The leasing price for retail stores has been a sensitive topic for retail owners. There are a lot of new businesses coming to town, but at the same time, there are also a couple of retail stores already there waiting to be leased. For instance, retail stores in the Albertson’s Square have been erected for a long time, but the developer is still busy negotiating to fill those spaces up.
Haun admitted they still needed to deal with leasing prices carefully.
Refusing to give any detailed examples, Haun believes there is a balance point in the business, where developers can make good money while retailers garner reasonable profits.
What he is doing right now is finding those balance points together with his customers to push projects forward, he said. To some extent, the result has to be a win-win for everybody involved, he said.