TBI DEVELOPMENT BEGINS RETAIL CENTER CONTRUCTION

Toeniskoetter  & Breeding Inc. Development (TBI Development) has begun construction of an 80,000-square-foot retail center one block west of Highway 101 on Cochrane Road in Morgan Hill.


TBI DEVELOPMENT PROMOTES KEY STAFF, CONSOLIDATES OFFICES

As part of growth and repositioning, Toeniskoetter & Breeding Inc. Development (TBI Development) has promoted key employees and consolidated expanded operations in the historical Cook Mansion, President and CEO Brad Krouskup announced.

TBI DEVELOPMENT BEGINS RETAIL CENTER CONSTRUCTION

Toeniskoetter  & Breeding Inc. Development (TBI Development) has begun construction of an 80,000-square-foot retail center one block west of Highway 101 on Cochrane Road in Morgan Hill. The first phase of construction at the eight-acre Madrone Village Shopping Center will encompass a four-building complex totaling 28,000 square feet, including a 5,200-square-foot building for South Valley National Bank at the corner of Madrone Parkway and Cochrane Road. TBI Development representatives and Cornish & Carey Commercial’s retail teams are negotiating with several major retailers for space in the other three buildings.

            “Cochrane Road is an extremely strong retail area with significant room for growth,” Brad Krouskup, President of TBI Development, said. “Madrone Village is situated on a major corridor connecting Monterey Highway, downtown Morgan Hill and 101. It will serve the majority of residential population in northern Morgan Hill and everyone going in and out of the Madrone Parkway and the Coyote Valley. We feel that the design concept is so sound and the location so attractive, that we are proceeding with development on a speculative basis.”
          
  Phase 1 is expected to open in May 2007. Phase 2 will be a free-standing building of approximately 50,000 square feet constructed on a build-to-suit basis for a major grocery, drug store or other retailer of consumer goods.   

Madrone Village Retail Center

Madrone Village Retail Center is located across Madrone Parkway from the Marriott Residence Inn, Courtyard by Marriott, Chevron Station, In-N-Out Hamburgers and Denny’s. All are part of TBI Development’s 110-acre Madrone Business Park.
          
  In addition to South Valley National Bank, Phase 1 of Madrone Village will consist of a 5,011 free-standing building at the corner of the Cochrane Road entrance, an 11,500-square-foot building at the corner of Cochrane and Madrone Parkway and a 5,875-square-foot building at the Madrone Parkway entrance.

            Cornish & Carey brokers working with potential tenants include Sean O’Carroll, Danielle Bromstead and Lindsey Speaker, all in the Santa Clara office.

            The design is early California with clay tile roofs. Krouskup said every effort has been made to achieve historical authenticity. The architect is Arc Tec Inc. of Phoenix. 

            Founded in 1983, Toeniskoetter & Breeding, Inc. Development has developed some 2.5 million square feet of buildings and manages a portfolio of more than two million square feet throughout Santa Clara and Santa Cruz counties.