By Karl Terry: PNT Managing Editor
A new retail development that could accommodate up to 10 retail and service businesses is under construction near the Wal-Mart store in Portales. The developer is hoping to have tenants in the building by early 2008.
Tom McSpadden, a marketing representative with CMS Properties of Lubbock, said Wednesday the development, Portales Plaza, was still in the early stages with only a couple of tenants signed on and others in negotiation. He said he couldn’t yet announce the businesses that have signed on at the location.
The shopping center faces U.S. Highway 70 on the northwest corner of Wal-Mart’s lot at U.S. 70 and Spruce Street. McSpadden said the development would be similar to those the company has built in other communities, including Clovis and Hobbs. In Clovis, that development, near Wal-Mart has just completed its second phase. Businesses there include Cato’s, Payless Shoe Source, Papa Murphy’s, CitiFinancial and others.
It would likely include several national and regional retail and service businesses such as the Clovis location and possibly a restaurant, McSpadden said.
Plans on CMS’s Web site show nine of the center’s units will each be 1,875 square feet while the 10th will be double that size at 3,750 feet.
“We’ve been in Clovis for several years, and we watch Portales,” McSpadden said of his company’s interest in the city. “With the restructuring of Cannon (Air Force Base), Portales has a good future.”
Roosevelt County Chamber of Commerce executive director Sharon King said she didn’t know a lot about the development but was excited to hear of the potential retail business.
“It’s exciting to get new business,” King said. “Any time we can get more of a variety of shopping for Portales folks it’s great.”
McSpadden said the company hopes to have the building shell completed in the next 90 days, then work will begin on tenant finish. His plan is to have most of the tenants secured in the next 45 days.
He said this is the first of three planned phases. Other parts of the development would go on the north and west sides of Wal-Mart’s parking lot.
“Hopefully when we get done people will be pleased,” McSpadden said. “We think Portales has potential, and we’re going to try to take advantage of that.”