Construction of the $12 million South West Plaza is complete according to the executives involved with the project, which has stuck to its initial target date and has remained 3 percent under its budget. Cost Engineer for CGT Contractors and Developers Limited Ryan Treco told Guardian Business yesterday that the shopping complex on Carmichael Road is done. He called the project a great accomplishment for the partners involved and a welcomed addition to a growing community in southwest New Providence.
"We are very excited to have recently completed the Southwest Plaza," Treco said. "It is a milestone for our company and our family in terms of not only being a very successful construction project, but we are also the developers behind it. We believe that this plaza will provide numerous shopping alternatives in one of the fastest growing areas in New Providence, in one convenient and first-class facility."
Among the key players involved with the plaza, located at the intersection of Carmichael and Blue Hill Road, are Alexiou and Associates Limited, CSB Consultants Limited, KPMG, RBC Royal Bank Bahamas and Morley Realty Limited. President of Morley Realty David F. Morley told Guardian Business in an earlier interview that there were multiple inquires for the spaces and some of the tenants will be expanding their services to that area of Nassau.
Seventeen tenants have committed to leasing space in the complex, with three of them already in operation. Marco's Pizza, Shoe Village and Bristol Cellars have opened their doors for business, with Treco saying the remaining stores will be operational between next week and the end of August.
The tenants who signed on include: Shoe Village, Outdoor Sportsman, Dr. Duranda Ash, Bristol Cellars, Girls Will Be Girls, Marco's Pizza, Fashion Hall, Lowes Pharmacy, Body Beautiful, Commonwealth Building Supplies, One Stop Wigs & Beauty Supplies, Games & Things, Big One, Star General Insurance, Dairy Queen, Seago's Sports Bar and Sandy's.
Treco mentioned that more tenants are expected to sign on in the coming weeks for spaces in the complex.
The Southwest Plaza is situated on an 11-acre site and is comprised of 150,000 square feet, with 130,000 square feet being leasable retail space and 20,000 square feet being leasable warehouse space. The complex will be able to accommodate 550 cars and will be equipped with full emergency generator back-up. The groundbreaking on the site took place last June.
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