March 2002 - Ron McGehee @ 502-245-8800
Hagan Seay Properties is undertaking its third major adaptive reuse of an aging Louisville-area shopping center, this one a $6 million joint venture between Hagan Seay and the center’s owner to redevelop Jeffersontown (J-Town) Shopping Center on Taylorsville Road in the heart of Jeffersontown.
Ron McGehee, a developer for Hagan-Seay, announced plans for the center at Monday night’s meeting of the Jeffersontown City Council.
The center is owned by new Plan Excel Realty Trust of New York, one of the oldest and largest real estate trusts in the country with assets of some $2.7 billion. It was built in 1959 and was a viable shopping center until major tenants Target, Winn-Dixie and Tricon relocated. Since then, the center has deteriorated and struggled to remain competitive.
McGehee said the project will include renovation and expansion of the center from its current 187,000 square feet to 201,000 square feet. There will be a complete makeover of the center’s main building, including construction of a new façade. The parking lot will be rebuilt and there will be new landscaping and new signage.
He said the main building will provide space for a mixture of retailers and office tenants. The retail space will be tailored for retailers who need inexpensive rent, large showrooms and significant inventory storage. The office space will target “big box” tenants who need large suites at low rent.
In addition to the existing main building, McGehee said the property will be redeveloped into four other buildings, all on the Taylorsville Road frontage. Two building of 15,000 square