X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MATTOON, IL-Mattoon Marketplace, which will have a total of 82,000 sf of retail space, is being developed by Thompson Thrift, based in Terre Haute, IN. The retail center, which is at 100 Dettro Drive at the intersection of State Road 16 and Interstate 57, will have a 72,000-sf retail center and an additional 10,000 sf of out-lot space, says Ashley Boyd, vice president of development with Thompson Thrift. The estimated value of the project is about $10.5 million, he says.

A Kmart was located on the site and is being completely redeveloped, Boyd says. The back of the building was removed and, while the front façade remains, it was redesigned to make the new center unrecognizable as a former Kmart, he says.

Mattoon Marketplace, which is expected to be open in the fall, is currently more than 50% pre-leased, Boyd says. Leases were recently signed with Dollar Tree, Hibbett Sporting Goods, Wireless Mike’s and Cottonwood Financial. Other major tenants will include Cato, Verizon, BW3 and GameStop. The asking lease rate is between $18 and $26 per sf net, Boyd tells GlobeSt.com. Mid-America Asset Management Inc. is handling the leasing of the building.

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

Once you are an ALM digital member, you’ll receive:

  • 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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.