Penney?s Plans Store in Pinnacle Development
by October 11, 2004 12:00 am 94 views
We hear J.C. Penney Co. has agreed to be the second anchor store at The Pinnacle Group’s west Rogers shopping and entertainment center, Pinnacle Promenade.
Neither the Plano, Texas, retail giant, The Pinnacle Group or its Chicago-based retail development cohorts, General Growth Partners Inc., would confirm the deal. In fact, a spokesman for J.C. Penny said “nothing has been signed,” and that the chain is evaluating several local opportunities.
But the word is J.C. Penny has agreed to opening at Pinnacle Promenade provided the expected Perry Road/Interstate 540 interchange can get done, or at least mostly done, by 2006.
Additional details are sketchy, but Dillard’s Inc. of Little Rock announced in February that it plans to build a two-story, 165,000-SF store to anchor one end of the Promenade. The entire Promenade complex was supposed to be 856,300 SF, but several of The Pinnacle Group’s projects have been in flux and the exact size and price have not been firm up of late.
The Pinnacle Group is an investment holding company with what it calls more than $100 million in assets and 400 acres of west Rogers commercial property. The firm is led by J.B. Hunt, Tim Graham, Robert Thornton and Bill Schwyhart