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Supercenter Wal-Mart to anchor Market at Oakland
The Market at Oakland developers announced Monday that Wal-Mart will anchor the mixed-use development project located at Porchers Bluff Road and Highway 17 in Mount Pleasant.
The store will be a 176,000-square-foot Wal-Mart Supercenter, which will include a grocery store, tire/lube express, pharmacy and enhanced retail offerings.
“We are thrilled to have Wal-Mart a part of this unique project,” said Robert S. Small Jr., CEO of AVTEX Commercial Properties Inc., the company developing The Market at Oakland.
“Our premier location and the partnership with the Gregorie family to preserve open space through a conservation easement was of great interest to Wal-Mart, and they have been very accommodating of our stringent building policies to ensure the integrity of the project, which is not normal practice for many large retailers.”
Other retailers in The Market at Oakland must agree to locate the building in accordance to the master plan approved by AVTEX and the Mount Pleasant Town Council to develop facades in keeping with the architectural design criteria of the project and to sign a long-term ground lease instead of buying the property outright.
The Market at Oakland has been under construction since November of 2004 and consists of 75 acres, which are intended for commercial office and retail development.
Additional acreage has been set aside for a conservation easement and will be placed with the Mount Pleasant Open Space Foundation by the Gregorie family, who has owned Oakland Plantation since 1859.
The development is focused on preserving the historical home and grounds, offering greater traffic flow, new retail services and further economic development for the community.
The Market at Oakland has been approved for 415,000 square feet of retail space and 250,000 square feet of economic development.
The basic infrastructure of The Market at Oakland, including sewer, electricity and water, recently has been completed. Construction on the first phase of shops will begin this year.
“We are currently working with several other national retailers for the remaining retail space, and now that we have the commitment with Wal-Mart finalized, we are ready to complete the next phase of the major tenants,” said Heyward McDaniel, president of AVTEX Commercial Properties Inc.
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