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Pinnacle cuts ribbon


Farragut residents and community officials are busily preparing for the 9:30 a.m., Wednesday, April 12 grand-opening ceremony for the 44-acre Turkey Creek Colonial Pinnacle project.

Colonial Properties Trust Retail Marketing vice president Cindi Akins said a ribbon-cutting ceremony would take place at 9:30 a.m., April 12.

“Many of our corporate officers will be on hand for the event,” she said.

Those officials will include Colonial Properties CEO Tom Lowder, COO Reynolds Thomp-son and CFO Weston Andress.

Other officials expected to be on hand are Jim Nixon and John Turley of Turkey Creek Land Partners, the company that teamed with Colonial Properties to create the development; Farragut Mayor W. Edward “Eddy” Ford III; Knox County Mayor Mike Ragsdale; Farragut West Knox Chamber of Commerce President and CEO Bettye Sisco; and a host of other dignitaries and county residents.

“This is something that is really exciting for us,” Akins said. “We haven’t done anything like this before.”

Akins was referring to the project, which is being termed a “lifestyle center” as opposed to a traditional shopping mall. She said Colonial Properties owns 11 malls across the country.

“The trend has been to move away from shopping malls due to the high cost involved,” she said. “A lifestyle center offers greater access for the customer. They can drive up to the specialty store of their choice as opposed to driving to one part of a mall and having to walk all the way across it to reach the specialty store.”

Nixon said something similar during the March 28 Farragut West Knox Chamber of Commerce Speak Series breakfast event.

“I think everyone is interested in the Colonial Pinnacle development,” Nixon said. “The Colonial Pinnacle is a lifestyle center. As some of you may know, the mall business in the United States is practically dormant.”

Nixon said the expenses tenants have in malls have become so great they are abandoning the malls in favor of what are called lifestyle centers. These centers have a common parking area, but the stores are not enclosed, as you would find in a shopping mall.

Akins said after the ribbon-cutting ceremony, a majority of the stores are expected to open at 10 a.m. for the general public. Colonial Properties will be giving out gift bags to customers that will include coupons as well as a map of the entire lifestyle center.

“One customer will have in their bag a certificate for a five-hundred-dollar shopping spree,” she said.

Stores scheduled to open on April 12 include Bed Bath and Beyond, World Market, Bonefish Grill, Panera Bread, Acorn, After Hours, American Eagle, Ann Taylor Loft, chico’s, JoS. A Banks, New York & Co., PacSun, Rue 21, Talbot’s, Treza, Finish Line, Journey’s, Liz Claiborne, The Shoe Dept., Strasburg Children, Justice, Kirklands, Claire’s Botique, Francesca’s Collection, Kay Jewelers, Sunglass Hut, Hallmark, Yankee Candle, Avedaq Natural Alternatives and LensCrafters,

Stores scheduled to open later in the year include Borders Books and Music, Maggie Moo’s, HH Greg, Party City, Calhoun’s, Shane’s Rib Shack, Cold Stone Creamery, Victoria’s Secret, Top Flight Wines, Flemings and Abuelo’s Mexican Restaurant.

 

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