Scarborough development is luring big-name retailers away from South Portland

Posted May 08, 2014, at 3:12 p.m.

SCARBOROUGH, Maine — A new retail development is luring several high-profile South Portland businesses to Scarborough.

The businesses, now tenants at The Shops at Clarks Pond, are moving to Gallery Place, according to the real estate agent who negotiated the deal.

Charles Day, of CBRE/The Boulos Co., said Marshall’s, HomeGoods and Bob’s Discount Furniture have pre-leased space at 700 Gallery Boulevard. The property is being developed by Waterstone Retail, a Needham, Massachusetts-based management company that has developed 35 shopping plazas across New England and the Southeast.

South Portland Mayor Jerry Jalbert also confirmed the moves after receiving information Wednesday.

Built in 1991, Clark’s Pond is just off Gorham Road, a half mile from the Maine Mall. Tenants include Home Depot, a Jenny Craig weight-loss center, and the Cinemagic Clark’s Pond movie theater.

The Gallery Place development, situated between Payne and Mussey roads in Scarborough, hosts Walmart, Texas Roadhouse and a Lowe’s home improvement center, among other businesses.

Day said the stores are moving because Gallery Place is “nicer, newer and access is a little better” than at Clark’s Pond.

“Retailers prefer more of a setting like this, so people can get in and out,” Day said Monday. “You can sit at that [Gorham Road traffic] light at Bass Shoe Outlet forever.”

A representative of Waterstone Retail could not be reached for comment this week. The company is scheduled to present a site plan for the Gallery Place project at a Planning Board meeting Monday, May 12.

Jay Chace, senior town planner, said Wednesday that Waterstone is taking “a phased approach” to the development, and the discussion Monday will likely not include talk about potential tenants. But he also said he assumes that tenants for the space are “probably lined up.”

Day said the planned, 114,000-square-foot retail center would also have a PetSmart store, leaving only about 5,000 square feet of space unleased on the lot. Karen Martin, director of the Scarborough Economic Development Corp., said the remaining pads could be leased for restaurants.

Neither Martin nor South Portland Assistant City Manager Jon Jennings could confirm the business moves.

Jennings on Monday said he would be waiting for official confirmation from Waterstone Retail before commenting on the potential impact the move could have on South Portland’s tax base.

The most recent city assessment of The Shops at Clarks Pond values the shopping center at $14 million. The center is owned by CPSP LLC, a company controlled by Portland landlord Joseph Soley.

Martin said Wednesday it was “probably too early” for involvement from SEDCO.

 

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