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October 3, 2008
METROGROUP TO DEVELOP 18 MORE CVS/PHARMACY STORES
Nine Stores
Already Delivered in 2008
ATLANTA — MetroGroup Development, LLC announced today the development of 18
CVS/pharmacy (NYSE: CVS) stores throughout Georgia. As a preferred developer for
the retail chain, MetroGroup has two stores currently under construction and 16
more approved for completion between 2009 and 2010. Since 1995, the real estate
company has developed almost 80 CVS/pharmacy stores throughout Georgia and Florida.
“Despite the decline in the residential market, there are still communities
that lack pharmacy amenities,” explains Mark Gottlieb, partner, MetroGroup
Development. “This is the key factor that is driving CVS’ continued
expansion throughout Georgia. Now more than ever, it is essential that our team
identifies sites that ensure customer convenience and long-term success for CVS
and our investors.”
MetroGroup has two free-standing CVS/pharmacy stores currently under construction
in the following Georgia markets:
- Macon (Hartley Station)
- Rome (Martha Berry Boulevard and North Rome Connector)
An additional 12 Georgia stores have already been completed in 2008: Alpharetta,
Atlanta, Buford, Cumming (2), Dalton, Forsyth, Gainesville, McDonough, Smyrna, Sylvester
and Tifton.
CVS/pharmacy continues to expand its Georgia footprint with 16 additional stores
scheduled for completion in 2009 and 2010. MetroGroup will begin construction of
these developments within the next two to 12 months in the following Georgia markets:
- Atlanta (2 stores)
- Braselton
- Canton
- Cartersville
- College Park
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- Ellijay
- Fairburn
- LaFayette
- LaGrange
- Newnan
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- Sandy Springs (3 stores)
- Sharpsburg
- Tallapoosa
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September 5, 2008
METROGROUP RANKS 5th IN ATLANTA RETAIL DEVELOPMENT
Founding
Partner Named Among Top Real Estate Executives
ATLANTA — With 513,000 square feet of retail developed in 2007-2008, MetroGroup
Development ranks 5th in the retail category of the Atlanta Business Chronicle‘s
annual “Atlanta‘s Top Commercial Developers” list, posted in the September 5 issue.
Select other companies on the list include The Sembler Company, Faison Enterprises.
Madison Retail LLC and Cousins Properties.
September 4, 2008
BERRY CROSSING BREAKS GROUND IN ROME, GA
MetroGroup
Acquires Site from Berry College
ROME, GA — MetroGroup Development (www.metrogroupdevelopment.com) celebrated,
along with Berry College, the groundbreaking for Berry Crossing, a neighborhood
center set to bring much needed service amenities and popular eateries to this thriving
community. The demolition of existing structures along Redmond Road officially marked
the commencement of construction.
The Roswell, Ga.-based developer closed on the 5.8-acre site, situated at the southwest
quadrant of North Rome Connector/Veterans Memorial Highway and Martha Berry Boulevard/US
Highway 27 in August for an undisclosed amount. The sale represents the first commercial
site sold by Berry College since Mt. Berry Square Mall. Construction is underway
with Berry Crossing scheduled to be complete spring 2009.
“As a result of our cooperative partnership with Berry College, convenience retail
and dining that is close to home will be a reality for Rome (Ga.) residents and
students,” states Mark Gottlieb, partner, MetroGroup Development. “We pride ourselves
on delivering quality shopping destinations that set the standard for future commercial
growth. Berry Crossing will continue our 11-year tradition of quality development.”
The 37,000-square-foot development will feature CVS/pharmacy, Wachovia Bank and
19,500 square feet of small shop space. The shopping center is 50% pre-leased with
national, regional and local tenants that are expected to bring shopping and dining
alternatives close to home. The center’s upscale architecture features a blend of
brick, aggregate stone and stucco to create an inviting, pedestrian-friendly environment.
Wachovia Bank will be renovated to align with the new architectural specifications.
“Berry Crossing will set the stage for future development along the popular Martha
Berry Corridor,” continues Gottlieb. With population figures that top 56,000 residents
within a five-mile radius, the neighborhood center benefits from a captive retail
audience of employees and students traveling to and from nearby facilities, such
as Redmond Regional Medical Center, Berry College as well as Rome’s primary employers.
Furthermore, Martha Berry Boulevard and North Rome Connector establish the ideal
crossroads for neighborhood retail in Rome, Ga. While the Martha Berry Corridor
is the major commercial artery for the region, North Rome Connector feeds residential
communities throughout the area.
As a preferred developer of the national pharmacy chain, MetroGroup Development
has completed 68 CVS/pharmacy stores throughout Georgia and Florida with another
10 stores planned in Georgia.
July 1, 2008
METROGROUP RANKS 10th in ATLANTA RETAIL DEVELOPMENT
Founding
Partner Named Among Top Real Estate Executives
ATLANTA — With 360,000 square feet of retail developed in 2006-2007, MetroGroup
Development ranks 10th in the retail category of the Atlanta Business Chronicle’s
annual “Atlanta’s Top Commercial Developers” list, posted in the
2007-2008 Book of Lists. Select other companies on the list include The Sembler
Company, Faison Enterprises, Madison Retail LLC and Cousins Properties.
Recently, MetroGroup’s Mark Gottlieb, founding partner, was named one of Atlanta’s
key commercial real estate executives by the Atlanta Business Chronicle. Touted
for his contributions to the City’s real estate marketplace, Gottlieb is joined
by other key real estate leaders including Mike Cohn, Faison Enterprises; Jim
Jacoby, Jacoby Development; and Ben Carter, Carter Properties.
February 28, 2008
METROGROUP ANNOUNCES BARNES MILL CROSSING
32,000 SF
Neighborhood Center in West Cobb County
ATLANTA — MetroGroup Development plans to develop Barnes Mill Crossing, a
neighborhood center set to include a CVS/pharmacy and other retail, service and
dining establishments. The Roswell, Ga.-based developer closed on approximately
seven acres, situated at the northeast corner of East-West Connector and Hicks Road
in Smyrna, Ga., in December for an undisclosed amount. Barnes Mill Crossing is adjacent
to Barnes Mill, a 200-acre, master-planned village community with plans for approximately
450 single-family homes. Site work and construction are currently underway.
"While growth in East Cobb County has slowed over the past decade, new residential
havens continue to dot West Cobb County," explains Mark Gottlieb, partner, MetroGroup
Development. "It is these new residents that are seeking convenience retail and
eateries close to home. Most importantly, they want shopping environments that reflect
their way of living and that's exactly what we are delivering with Barnes Mill Crossing."
The 32,000-square-foot development will feature CVS/pharmacy, a free standing bank,
a restaurant and approximately 8,400 square feet of retail shop and office space,
which will bring much needed service amenities and popular eateries to this thriving
suburban marketplace. The pedestrian friendly environment will seamlessly integrate
retail, dining and office in an effort to encourage foot traffic throughout the
site.
"Explosive population growth continues to create demand for quality, convenience
retail and dining environments," explains Gottlieb. Retail continues to follow rooftops
in West Cobb County. With its population expected to exceed 185,000 by 2011, the
five-mile trade area has realized a 30% growth rate from 1990 to 2006. Further,
the 2006 estimated average household income for the same area tops $65,000, reflective
of Cobb County's ranking as the second-highest in per capita income for the metro
Atlanta marketplace.
The East-West Connector and Hicks Road establish the ideal crossroads for neighborhood
retail in West Cobb County. While the East-West Connector is the major commercial
artery for the region, Hicks Road feeds residential communities throughout the area.
Barnes Mill Crossing is scheduled to open Fall 2008. MetroGroup Development is a
preferred developer of CVS/Pharmacy.
October 9, 2007
METROGROUP TO DEVELOP 17 MORE CVS/PHARMACY STORES
10 Stores
Already Delivered in 2007
ATLANTA — MetroGroup Development, LLC announced today the development of 17
CVS/pharmacy (NYSE: CVS) stores throughout Georgia. As a preferred developer for
the retail chain, MetroGroup has four stores currently under construction and 13
more approved for completion between 2008 and 2009. Since 1995, the developer has
completed almost 75 CVS/pharmacy stores throughout Georgia and Florida.
"The continued consolidation of pharmacy chain operators has resulted in a fierce,
competitive marketplace," confirms Mark Gottlieb, partner, MetroGroup Development.
"It is even more imperative that we identify growth corridors where convenient goods
and services are in demand. That's how CVS will maintain and build on its stronghold
in the Atlanta market. That's the value we deliver as the company's preferred developer."
MetroGroup has four free-standing CVS/pharmacy stores currently under construction
in the following Georgia markets:
- Forsyth (Tift College Drive and Patrol Road)
- McDonough (Jonesboro Road and Chambers Road)
- Sylvester (US Highway 82 and Isabella Street)
- Atlanta (Northside Parkway and I-75 exit ramp; remodel and expansion)
An additional 10 stores have already been completed in 2007: Americus, Atlanta (Camp
Creek Parkway and Campbellton Road), Cedartown, Cumming, Dallas, Flowery Branch,
Newnan, Oakwood, Ringgold and Union City. CVS/pharmacy continues to expand it Georgia
footprint with 13 additional stores scheduled for completion in 2008 and 2009. MetroGroup
will begin construction of these developments within the next two to 12 months in
the following Georgia markets:
- Atlanta (Butner Road and Campbellton Fairburn Road/State Route 92)
- Atlanta (Northside Drive and Powers Ferry Road)
- Braselton (State Route 211 and Thompson Mill)
- Canton (State Route 20 and River Green Avenue)
- College Park (West Fayetteville Road/State Route 314 and Norman Drive)
- Cumming (Post Road and Kelly Mill Road)
- Cumming (Ronald Reagan Parkway and State Route 141)
- Dalton (State Route 71 and Haig Mill Road)
- Gainesville (State Route 60 and Price Road)
- Macon (Hartley Bridge Road and Hartley Station Boulevard)
- Milton (State Route 9 and Bethany Road)
- Sharpsburg (State Route 34 and Fisher Road)
- Smyrna (East West Connector and Hicks Road)
March 5, 2007
METROGROUP ANNOUNCES OLD MILL CROSSING
CVS/pharmacy
and Retail Shops Provide Shopping & Dining Alternatives County
ATLANTA — MetroGroup Development has begun development of Old Mill Crossing,
a 16,000-square foot retail center set to include a CVS/Pharmacy, retail shops and
restaurants. The Roswell, Ga.-based developer recently commenced construction on
the three-acre site, situated at the northwest corner of Battlefield Parkway (State
Route 2) and Old Mill Road. The development is expected to be completed by June
2007.
"We are pleased to be able to bring convenience retail and dining alternatives closer
to home for Ringgold and Fort Oglethorpe (Ga.) residents," states Mark Gottlieb,
partner, MetroGroup Development. "Old Mill Crossing will continue our tradition
of quality developments."
The 16,000-square-foot development will feature a CVS/pharmacy and approximately
5,000 square feet of small shop space. The upscale architecture will feature a blend
of brick, aggregate stone and stucco to create an inviting shopping environment.
"Old Mill Crossing is situated on Battlefield Parkway at the intersection of Old
Mill, convenient to the recently-completed medical office development and other
businesses in the area," explains Gottlieb. Though population figures top 53,000
residents within a five-mile radius, Old Mill Crossing benefits from a captive retail
audience of employees and students traveling to and from nearby facilities, such
as Hutcheson Medical Center, Erlanger South Family Medicine and the Catoosa County
City Hall.
This is the third location for CVS/pharmacy in Catoosa County.
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