Peterson Puts Avonlea Development On Hold As It Looks For More Tenants
Peterson Cos.' has some major plans in store for Loudoun County, but it has hit the brakes on its 28-acre Avonlea project.
The developer has begun site work, but will not go vertical until it signs a second anchor tenant, the Washington Business Journal reports.
Cinépolis has already signed on to open an 11-screen movie theater as the project's first anchor tenant. Peterson Cos.' president of retail Paul Weinschenk told Bisnow last month he expected the theater to deliver in spring 2018, but those plans appear to have changed.
Peterson is looking to find additional restaurant and retail concepts to complement the multiplex. The development is planned to include the movie theater, a 32K SF health club, a 40K SF grocery store, 123K SF of additional retail and 40K SF of office.
Also in Loudoun, Peterson is looking for more retail for the next phase of Commonwealth Center, anchored by Top Golf and iFly. The developer's long-term Loudoun County pipeline also includes Compass Creek, a 550-acre master planned community where Walmart plans to begin building a new store next year.
