$20M Kensington Center Opens 100% Leased

PLAINFIELD, IL-The 210,264-sf Kensington Center, a joint venture between Mid-America Investment & Development Co. and Zakos and Association, is 100% occupied today for its grand opening. The retail center at the southwest corner of Route 59 and 127th Street in this far southwest suburb cost about $20 million to build, according to Mid-America, and city officials expect it to generate $6.75 million in annual sales tax revenue.

The developers, Mars Kensington, LLC, had a nice head start with a 142,500-sf Target Greatland, as well as a 24,280-sf Barnes & Noble Booksellers. Mid-America Asset Management principal Dick Spinell and leasing representative Barb Prieto also lined up Chili’s, Dress Barn, Maurice’s, Payless ShoeSource, Quizno’s, Fast Frame, Supercuts, TBD Nails and Mark Peter Jewelers.

The retail center follows a residential boom in Will County, the fastest-growing county in the state.

C. Michelle Panovich, a principal of Mid-America’s construction management division, oversaw the building of the center.