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ALGONQUIN, IL-The first phase of the 650,000-sf Algonquin Commons lifestyle center here has opened 95% leased, and the second phase is off to a good start. Circuit City has signed a 33,862-sf lease, with the electronics retailer hoping to open its doors at the center located at the corner at Randall Road and County Line roads early next year.

Although terms were not disclosed, exclusive marketing agents from CB Richard Ellis are offering space beginning at $18 per sf. CB Richard Ellis' Joe Parrott represented Jeffrey R. Anderson Real Estate, developer of the center. Naperville, IL-based Bobowski & Associates represented Circuit City.

Galyan's, Old Navy, DSW Shoes and Borders are among the larger tenants in the first phase. Pottery Barn, Talbots, Joseph A Bank, Coldwater Creek, Hollister, Bombay, Abercrombie & Fitch, Victoria's Secret and The Sharper Image also are among the lifestyle center tenants.

In an unrelated deal further south on Randall Road, Chicago-based developer V-Land Corp. has sold a BP fuel station on 1.58 acres for $2.6 million. BP has absolute net ground lease on the property. Bill Wright and Rich Frolik of CB Richard Ellis' shopping center investment team represented V-Land Corp. in negotiations with 1450 Fashion Island Boulevard Associates.

Instant Insights /

Circuit City Takes 33,862 SF in Common's Phase II

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