Development Projects

Market Square East (Phase I) lies directly along Weymouth Rhymer Highway (Rt. 38) and with the introduction of a new signalized intersection will be the catalyst for development of the Company's largest area of commercially-zoned, undeveloped real estate.

The development of five acres of land at Market Square East-Phase I will include a 26,000 square foot multi-screen cinema/restaurant complex, a 36,000 square foot food retail store, a 6,000 square foot commercial building and a 250-space paved parking lot.

All buildings in Phase I of Market Square East will be developed by the land lessees, with LRI clearing the site, building the parking lot and roadways, and providing electrical service and a sewage treatment plant. Total construction costs are estimated at approximately $1.8 million and the project should be completed within one year.

The remaining acreage in Market Square East will be developed in a series of additional phases based on tenant demand. In each subsequent phase, LRI will install the required infrastructure, consisting of parking facilities, utilities, drainage, power and roadways, and will retain the option of constructing build-to-suit facilities for high-quality tenants.

Tenant Mix:

Retail
Cost U Less, Home Depot

Entertainment
Caribbean Cinemas