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About THF

THF in the News

03.21.2008

JC Penney opens at Prairie Center

JC Penney opens at Prairie Center

J.C. Penney has debuted as the anchor of Phase II of THF Realty's $500 million Prairie Center mixed use development in Brighton, Colo. The Plano, Tex.-based national retailer will be part of a 275,000-square-foot power center, the second to emerge at the 1,984-acre development. The growing development serves a community recently named one of seven "boom towns" in the U.S. by Little Rock, Ark.-based demographer Gadberry Group.

Prairie Center is programmed to host three million square feet of retail; 4,500 detached homes, condominiums and apartments; and a medical office development. THF projects that upon completion Prairie Center will employ up to 4,000 people and generate $40 million in annual tax revenue. The entire project slated for completion around 2020.

The J.C. Penney offers family apparel, jewelry, shoes, accessories, home furnishings and retail services such as salon, optical, portrait photography and custom decorating.

Meanwhile, THF continues to advance Phase I of Prairie Center, which includes a 950,000-squarefoot power center. To date, more than 535,000 square feet of retail is in place, including the first SuperTarget, Home Depot, and Kohl's for the northeast Denver trade area. Other firsts for the trade area includes Dick's Sporting Goods and Michaels. Other tenants include Chili's Restaurant, Famous Footwear, PetSmart, Office Depot, Taco Bell, Dollar Tree and Chick-Fil-A.

Phase I also includes a pedestrian-oriented component of the power center called the Village Area. It consists of 65,000 square feet of specialty shops including Subway, Heidi's Deli, Quizno's, GNC, Elite Nails and Dental One.

Phases III and IV of Prairie Center are programmed to include a power/entertainment center totaling approximately 600,000 square feet. Future phases are in the planning stage.

Located 20 miles northeast of downtown Denver, Brighton grew from 9,755 households in 2000 to 21,608 in 2007, a 122 percent increase, according to a January 8, 2008 report by Gadberry. During that span, average household income also grew from $55,989 to $65,759, with the highest number of households in the $80,000 to $89,999 range.

Founded in 1991 by Michael Staenberg and E. Stanley Kroenke, St. Louis-based THF develops and manages office, retail and residential property. The firm has a portfolio valued in excess of $2 billion, including more than 24 million square feet of commercial space in 20 states.