Colonial Marketplace, LN’s longtime digs, is continuing to see new tenants sign on amid the homestretch of renovation on the dining, retail and office plaza.
Extra Virgin Olive Oil and Frill, a high-end home accessories store, will now be part of the boutique shopping center, set to be completed by June, according to Mark Schnuck, president and CEO of the DESCO Group, which purchased the property from Reliance Bank in September 2011. “We anticipate major construction will be completed by the end of April, including a new façade, utility upgrades, parking lot resurfacing, cross connection, retaining walls and landscaping.”
In less than a year, the 78,000-square-foot Marketplace is approximately 80 percent leased. Business openings are scheduled through July, Schnuck says. “We believe customers will respond well to the tenant mix.” Tenants already open include FedEx Kinkos, Splash, Ladue News, Blown Away Blow Dry Bar, Ivy Hill Boutique and Southwest Hearing. Still to come will be The Woman’s Exchange, which is relocating from Clayton Road; Dominic Michael Salon, moving from nearby Clayton; Dimvaloo Active Living, a high-end activewear boutique from Australia; The Original Pancake House, which is opening its second St. Louis location; cini Italian Chow, also its second St. Louis location; Clarkson Eyecare; Extra Virgin Olive Oil and Frill.
The plaza’s prime location—at Ladue Road near the 170 interchange and moments from downtown Clayton—drew in tenants quickly, Schnuck explains. “The Marketplace has tremendous appeal in that there is easy access from the highway, plenty of parking and close proximity to wonderful neighborhoods and the Clayton business district," Schnuck notes. "Interest among potential tenants remains high, and we project to be 100 percent leased by the end of the year.”
Colonial Marketplace is meant to become a one-stop, high-end boutique shopping center that also complements the adjacent, recently remodeled Ladue Crossing. “The municipalities and surrounding communities will benefit from the sales tax generated by this select grouping of new restaurants and high-end boutiques,” Schnuck says.
And a special effort has gone into making Colonial Marketplace a fitting addition to the surrounding Ladue and Clayton neighborhoods. The center boasts authentic materials, from real slate, copper cupolas and snow guards to brass door hardware and use of limestone in retaining walls and columns. “We’ve taken great care to ensure the remodeled center reflects the character of the area,” Schnuck notes. “Great attention is being paid to landscaping with tall Foster holly trees in Chippendale planter boxes, complementing the Chippendale fencing lining Ladue Road and the roof element.”
The repositioned plaza, now more energy-efficient and pedestrian- and cyclist-friendly, already is bustling with consumer traffic. And Schnuck predicts the convenience of the one-stop shopping experience will draw customers from across the region.