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Morrisville Center Lands Buy Buy Baby, Stone Theatres, Urban Active Fitness
Thursday, October 2, 2008
Article from Triangle Business Journal by Amanda Hoyle
Morrisville, NC — Casto Lifestyle Properties and 1st Carolina Properties have announced their first anchor tenant line-up for the proposed Park West Village mixed-use community in Morrisville at the intersection of Cary Parkway and Chapel Hill Road. Buy Buy Baby, an affilate of the Bed Bath and Beyond retail chain, will be opening its first Triangle location at Park West Village. The store specializes in nursery and children’s furniture, toys and clothing. Stone Theatres, formerly known as Consolidated Theatres, will be opening a 14-screen movie cinema with a prominant water feature at the entrance. It will be among the first new theaters opened by Consolidated Theatres founder Herman Stone. Urban Active Fitness, a 50,000-square-foot fitness club based in Lexington, Ky., has plans to open several new locations in North Carolina, and its club at Park West Village will be among its first in the Triangle. Casto has also signed a deal with hotel operators planning to open a 120-room business class hotel. Casto did not close identities of the hotel investors or the proposed hotel flag. Park West Village is a joint-venture, 96-acre project with developers Casto Lifestyle properties of Columbus, Ohio, and 1st Carolina Properties of Cary. The property is the site of the former Bristol Myers Squibb manufacturing plant in Morrisville, which was sold to the Casto partnership for $22.5 million in late December 2007. The Morrisville town council approved a preliminary site plan for the project in January that includes about 750,000 square feet of retail, 50,000 square feet of office space, a 140-room hotel and and up to 425 apartment units. Construction delivery of the first phases of Park West Village is expected in late 2009 with opening of the first retailers continuing into the first half of 2010, Casto reports.

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