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VOL. 114 | NO. 95 | Tuesday, May 16, 2000

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Construction on the South Lake Centre in Southaven, Miss DeSoto retail boom continues with addition of South Lake Centre Construction on the South Lake Centre in Southaven, Miss., is on schedule, which means several new stores are set to open in late summer and early fall. DeSoto Countys newest retail center, which is being built next to Office Depot at the Interstate 55/Goodman Road interchange, will bring to the area several of the nations largest retailers, including HomePlace and Old Navy. Other retailers opening stores in South Lakes main strip center include Petco, Shoe Carnival, Hallmark and Hancock Fabrics. Four stores are now being built in front of the strip center, including Family Bookstore, Dollar Tree and Heavenly Ham. Retail space for an S & K Mens Store, Super Cuts and Radio Shack also is now under construction. Construction is underway on several restaurants in South Lake Centre, including an Outback Steakhouse and McDonalds. The development is a joint venture between Clary Development Corp. of Little Rock and Dial Cos. of Omaha, Neb. Project manager Jeff Maxwell said construction has been progressing according to schedule. Although there have been several delays due to weather, contractors have managed to make up for lost time, he said. Store openings should start taking place in late July. Upon completion and full occupancy, the estimated $60 million center will employ about 1,500 people and generate property and sales tax revenue of about $11 million. The center will house some of the nations largest retailers. HomePlace Stores Inc., a national chain of home-fashion superstores, plans to open its 45,000-square-foot location in September. The store will replace a HomePlace store the company opened at The Market of Wolfcreek in Cordova, but closed nine months after opening, due to bankruptcy and stiff competition in the area. Old Navy also plans to open a 25,000-square-foot store in late September. When complete, South Lake Centre will contain about 500,000 square feet of retail space. Malco Theatres Inc. has signed a deal that will transform the former Service Merchandise property at Poplar Avenue and Mendenhall Road into a 16-screen, 2,400-seat movie megaplex. Demolition of the existing building is expected to start within the next two months and the new theater is expected to open in spring 2001. Malco plans to invest $8 million to $10 million in developing the new theater, company officials said.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 307 21,073
MORTGAGES 82 330 24,691
FORECLOSURE NOTICES 66 93 8,703
BUILDING PERMITS 0 837 43,174
BANKRUPTCIES 63 240 14,142
BUSINESS LICENSES 17 75 6,476
UTILITY CONNECTIONS 25 139 13,650
MARRIAGE LICENSES 10 77 5,146

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