New Construction
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New Construction

Mid-America Real Estate is preleasing Lincoln Park Centre, a 59,500 sq.ft. center located at the intersection of North Avenue and Halsted Street in Chicago, IL. The space formerly was occupied by a YMCA. The center will be anchored by a 25,000 sq.ft. Borders Books & Music and will be tenanted by a 13,500 sq.ft. LaSalle Bank. Opening is slated for the Fall. The project is being developed by Drew & Co.

For more information, contact Mid-America Real Estate, Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181; 630-954-7300.

Welco Realty, Inc. is preleasing a 56,000 sq.ft. center located on Route 23 North in Wayne, NJ. The center has spaces available from 1,500 sq.ft. Area demographics include a population of 186,469 within five miles earning $98,147 as the average household income. Area retailers include A&P Supermarket, Rag Shops, Party City, Michaels, Staples, Zany Brainy, Harmon Cosmetics, Bottle King, Treasure Island, Pay Half, The Avenue, Fuddruckers, Panera Bread, Chuck E. Cheese, Romano’s Macaroni Grill, HomeGoods and Kohl’s. The company also is preleasing a 100,000 sq.ft. center located at the intersection of Route 17 and Stanley Street, near Paterson Plank Road, in East Rutherford, NJ. Proposed retailers include Marshalls and Rag Shops. The center will have spaces available of 15,000 sq.ft., 19,302 sq.ft. and 27,317 sq.ft. Area retailers include Staples and BJ’s Wholesale Club. Area demographics include a population of 1,339,119 within seven miles earning $66,847 as the average household income.

For more information, contact Welco Realty, Inc., 2525 Palmer Avenue, New Rochelle, NY 10801; 914-576-7500, Fax 914-576-7596.

Network Real Estate Group, Ltd. is preleasing Garfield Plaza, a 14,400 sq.ft. center located at the intersection of Halsted and Garfield in Chicago, IL with a daily traffic count of 30,000 vehicles on Halsted. Area demographics include a population of 150,000 within five miles. The center will be anchored by Subway. Market and asking rent is $20 psf with CAM of $1.50 psf and taxes of $3.50 psf. The center has space available of 1,200 sq.ft. and is slated for a Fall opening. The center is situated on a land area of 31,875 sq.ft.

For more information, contact Tammy Dertz, Network Real Estate Group, Ltd. 9031 West 151st Street, Suite 203, Orland Park, IL 60462; 708-873-5540, Fax 708-873-0157; Web site: www.networkregroup.com.

Market Place Developments, LLC is developing Market Place Shoppes, a 66,000 sq.ft. strip center located at the intersection of Shed and Airline in Bossier City, LA with a daily traffic count of 34,315 vehicles. Area demographics include a population of 242,963 within 10 miles earning $34,691 as the average household income. The center is anchored by Petco and is tenanted by McAlisters. Market rents range from $16 psf to $20 psf, while asking rent is $18 psf with CAM of $2 psf and taxes of $1.15 psf. Groundbreaking is expected to begin during the first quarter of 2003, while the opening is slated during January 2004. The center has space of 48,000 sq.ft. available.

For more information, contact Tony Janca, Market Place Developments, LLC, 9258 Wallace Lake Road, Shreveport, LA 71106; 318-671-1570, Fax 318-671-1571; Email: ajanca@bellsouth.com.

Trademark is developing Market Street, a 34-acre, 460,000 sq.ft., mixed-use development in the Woodlands Town Center in Houston, TX. The center will be tenanted by Borders Books & Music for a two-story, 26,000 sq.ft. flagship store and H-E-B Supermarkets for a 78,000 sq.ft. specialty store named The Woodlands Market. In addition, the company has signed letters of intent covering more than 75,000 sq.ft. that are expected to be converted to signed leases. The $90 million development will include 92,000 sq.ft. of loft-style, Class A office space and 368,000 sq.ft. of upscale retail and restaurant space. Opening is slated during Spring 2004. The center is near a new 345-room The Woodlands Waterway Marriott Hotel & Convention Center, the 17,000-seat The Cynthia Woods Mitchell Pavilion and The Woodlands Mall. Market Street will be an open-air, main street-style town center. Trademark entered into a joint venture with Kimco Developers, Inc., an affiliate of Kimco Realty Corp., to finance the Market Street project.

For more information, contact Trademark, 301 Commerce Street, Suite 3060, Fort Worth, TX 76102; 817-870-1122, Fax 817-429-1815; Web sites: www.tdmk.com and www.marketstreet-thewoodlands.com.

Silbert Realty & Management Co., Inc. is leasing Cranford Crossing, a 21,363 sq.ft., downtown mixed-use center located at the intersection of South Avenue West and South Union Avenue in Cranford, NJ. The center will be a twin-building, upscale retail and luxury rental housing mid-rise development. Opening is slated for this Summer. The center will have a traditional red brick facade, divided light windows and a classic cupola atop a five-story light tower. Each building will include ground floor retail, wide archways providing pedestrian access to the covered walkway. In addition, the shops will have an attached four-story, 305-car parking deck. The center is expected to be tenanted by restaurants, card and gift stores, a specialty supermarket, florists, health and vitamin shops, apparel stores, a fitness center, a gourmet coffee and bake shop and a print and copy center. Area demographics include a population of 145,236 within three miles earning $89,439 as the average household income.

For more information, contact Brian S. Silbert or Thomas M. Trobiano, Silbert Realty & Management Co., Inc., 786 Mountain Boulevard, Suite 204, Watchung, NJ 07069; 908-754-5353, Fax 908-754-6364; Email: info@silbertrealestate.com; Web site: www.silbertrealestate.com.