Shopping Center Business

MAY 2016

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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COMPANY PROFILE 198 • SHOPPING CENTER BUSINESS • May 2016 J im Wilson & Associates (JWA) hun- kered down during the recession, but kept a great team intact and stood ready to invest in a number of projects as the market came back around. "Retail development has been slow for a while but we see evidence the market is coming back," says Will Wilson, Presi- dent of the Montgomery, Alabama-based investment and real estate services firm. The company is working on an 80,000-square-foot project at EastChase, the 330-acre mixed-use development fea- turing more than 1 million square feet of retail off Interstate 85 in Montgomery. "We're adding some big boxes to the de- velopment," Wilson says, noting that JWA also just signed Hobby Lobby to a lease at the project. "And we just sold another parcel to a hotel, a Marriott, which is fol- lowing the newly opened Hilton Garden Inn." In North Charleston/Summerville, South Carolina, JWA is developing a mixed-use portion of Nexton, WestRock's 5,000-acre master-planned development. The 80-acre, 800,000-square-foot region- al, open-air project will be called Nexton Town Center. In Conway, Arkansas, JWA is working on Central Landing, a lifestyle project that is anchored by Dillard's and includes a power center component. "We're trying to get it off the ground. Overall, the proj- ect will be about 500,000 square feet, and include a hotel component," Wilson says. In Biloxi, Mississippi, JWA is redevel- oping Edgewater Mall, an enclosed cen- ter built in the 1960s which now includes Dillard's, Sears, JC Penney, Belk and over 75 specialty stores. "This project is located across the street from the Gulf of Mexico, where Katrina came through 11 years ago. The entire area, including the mall, was damaged significantly. But the people are resilient and despite hur- ricanes, the economy and the Deepwater Horizon oil leak, the area is recovering. We've been able to keep the mall togeth- er, but it needs some new components and features. We're currently working with architects and looking at how to open it up with more lifestyle attributes and possibly add a live/work component, or a hotel and more restaurants," Wilson says. In Huntsville, Alabama, the company is developing retail space at a project de- veloped in partnership with Corporate Office Properties Trust. The project is planned for over 4 million square feet of office space. "Redstone is a U.S. Army facility that includes NASA and over 10 different commands for the government. We were awarded this Enhanced Use Lease project several years ago. Currently, Boeing occupies over 375,000 square feet of office space in three buildings and we hope to announce another large user this summer. We've built seven office build- ings and a hotel and have a small retail component featuring great restaurants going in now," Wilson says. In Thackerville, Oklahoma, JWA is looking to add retail at WinStar Casino, one of the largest casinos in the country. "And we're looking at other potential projects not only in the Southeast, but also in California and New York. We're busy!" Wilson says. "We completed a great transaction in New York about 10 years ago that was very successful. We also took advantage of some small oppor- Changing With The Times With 40 years in the business, Jim Wilson & Associates is still developing in a number of sectors. Randall Shearin and Jaime Lackey At more than 1 million square feet, JWA's EastChase in Montgomery, Alabama, is under expansion. New big boxes and another hotel are planned for the mixed-use development.

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