The retail center will be anchored by a 150,000-sf Menards and a203,000-sf Wal-Mart Supercenter, says Jeff Middlebrook, VP withMcVickers. Menards and Wal-Mart will each own the parcels for thestores. Wal-Mart reportedly acquired a 32.4-acre parcel on the sitefor $7 million and Menards reportedly acquired a 17.3-acre parcelfor nearly $5.5 million.

Besides Wal-Mart and Menards, the retail center will haveapproximately 85,000 sf of inline space and 11 out-lot parcels,Middlebrook says. He says he cannot disclose tenants. "It is tooearly to discuss leases. We are in discussions with a number oftenants," he says.However, the company includes possible tenants ona site plan drawing on its website. Tenants are expected to includefashion, office supply and pet supply retailers with banks,restaurants and automotive supply retailers on the outlots.Retailers appear to include Petco, Staples, Aldi, Dunkin' Donuts,Verizon, Lee Nails, Hair Cuttery and Starbucks Coffee, according tothe marketing materials by McVickers. Construction is expected tobegin this summer with retailers opening in the late spring orearly summer of 2009, Middlebrook says.

The site is located on Lincoln Highway and is at the end of therecently completed extension of Interstate 355. "It is prime realestate on the main drag running through New Lenox," Silvers says.There are 20,000 cars passing the site on Lincoln Highway daily."It is a piece of property that has ripened [and] that is ready forretail development," Silvers says.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.