The second phase of downtown Atascadero’s Colony Square retail center is gearing up to begin.
The first phase of the retail plaza along El Camino Real and Mercedes Avenue broke ground in November 2009. The second phase, set to have two-story buildings for retail and offices, will begin when the leasing agent has letters of intent for at least 70 percent of the planned tenant space.
As of Wednesday, the shopping center had letters for about 56 percent of its space, said Corban Holland of Pacifica Commercial Realty in Paso Robles.
The tenants have not been disclosed.
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About 13,500 to 14,500 total square feet will be available in the second phase, with ground level retail and office space above.
The second phase allows for a drive-through eatery, Holland said.
“At the moment, nothing is in concrete due to wanting to be flexible for new clients,” he added.
Original plans for the second phase of Colony Square were meant to have residential spaces, but they aren’t likely now, Holland said.
The plaza’s anchor tenant, the 10-screen Galaxy Theaters, opened in March.
Other first- phase tenants include Premier Nail and Day Spa and Subway. Round Table Pizza has opened in an existing building on site. Que Pasa restaurant and Cold Stone Creamery are also on the way this summer.
NOTE: This last paragraph was corrected to reflect the correct lineup of retailers expected by summer. The leasing agent for the project has since said that the proposed Bob's Big Boy restaurant is no longer part of the development.