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BOLINGBROOK, IL-Construction continues on the $9.5 million, 37,000-sf Bolingbrook Crossing Shopping Center, with the first phase expected to be completed by year’s end. The first phase includes a 16,333-sf building and a 6,074-sf building. A third, 14,900-sf building will follow in spring 2009. The shopping center, on 4.33 acres at Weber Road and Remington Boulevard in the southwestern suburb, is around 40% preleased, according to developer Gene Wright of Oak Brook, IL-based Dmyterko & Wright Partners. The development is being built in the Interstate 55 corridor by Knightsbridge Design + Build LLC, based in Naperville, IL.

“This is an area that has been underserved for retail space for quite some time,” Michael J. Kaufman, president of Knightsbridge, tells GlobeSt.com. “In this area, this type of center is in demand. It falls on the edge of the large industrial base that is there and will provide businesses and service to the people who live and work in that area.”

Signed tenants include Potbelly Sandwich works, which will occupy about 2,000 sf of the 6,074-sf building, and 7-Eleven, which will open a service station in the 16,333-sf building, Wright says. Additionally, a real estate firm will occupy 4,000 sf and Big Island Coffee about 1,500 sf, according to Wright. He would not disclose the names of the real estate firm. Wright says several more leases are expected to be signed in the coming months, but he would not release possible tenant names.

“There’s less than 1% retail vacancy in this trade area,” Wright says. “We’re getting a lot of response because of the adjacent Life Time Fitness. It’s a demand generator in the area.” The center can accommodate up to 20 tenants, Kaufman says, in spaces ranging in size from 1,500 to 5,000 sf. Asking lease rates in the shopping center range from $28 to $36, net, Wright says.

Oak Park, IL-based Ridgeland Associates Inc. designed the shopping center’s buildings, which will be load-bearing brick masonry with a steel frame structure and offer 12-foot high sales area ceilings and sprinklers throughout. The center represents the second retail development Knightsbridge has built this year. The group is also responsible for a 35,000-sf mixed-use residential/retail development known as the Gateway in Oak Forest, IL.

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