I recently noticed that Goodman had been replaced as the leasing agent at the Newport Pavilion with Anchor Real Estate. This prompted me to reach out to Anchor to find out the current status of the development and there are some exciting things on the horizon.
First lets start with the success of Kroger and Target. My contact at Anchor indicated that the Newport Pavilion Kroger Marketplace was one of the best performing stores in the Cincinnati region. He couldn’t provide sales or performance numbers but he indicated there was a reason why their fuel center recently extended their hours to 24 x 7.
You may be asking – but what about the future of the development.  Trust me, I asked the same thing – including a point blank question on whether Chick-Fil-A or Chipotle were both still planning to open and he indicated they were both a part of the plan.  He couldn’t provide any specific retail names but indicated that they (and the new owners) have submitted several plans to the city of Newport and he indicated it was like a giant puzzle trying to fit all the pieces together.  There is very strong interest from retailers.  No additional anchor tenants are being considered as the remaining space could not accommodate another 100,000 square foot building and they are focused on rounding out the development with ‘junior anchors’.
I asked if there were remaining infrastructure issues with the development that was preventing the completion and he indicated that was behind them BUT the plans and discussions with the city of Newport included additional discussion about what to do with the intersection at Carothers. Â This likely includes a rebuilding of the intersection that could raise the elevation.
There is some indication that ground could be broken on additional development very soon and they are excited to share the news with the community at that time.