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GlobeSt.com EXCLUSIVE: Retailers Ink Suburban Leases, Occupancies Soar

CHICAGO-In Hoffman Estates, IL, Poplar Creek Crossing sees retailer-preleasing climb to 70%, while Town Square Wheaton tops off with its final two tenants, bringing occupancy to 100%.

By Dana Dubriwny | Updated on July 27, 2005

CHICAGO-Poplar Creek Crossing, a 400,000-sf retail power in west-suburban Hoffman Estates, recently hit a 70% prelease benchmark resulting from five new leases totaling 91,000 sf. Poplar Creek, developed by Irving, TX-based Archon Group, sits on a 40-acre site at the southwest corner of Illinois Routes 59 and 72.

Anchored by a 124,000-sf Target, the center is located adjacent to the Prairie Stone Business Park and is scheduled to open during second quarter 2006. Expanding the tenant roster, retailers recently leasing space include: Linens ‘n Things, 28,000 sf; Michaels arts & crafts stores, 21,360 sf; Cost Plus World Market, 18,300 sf; OfficeMax, 18,000 sf; and Lane Bryant, 5,400 sf. Hoffman Estates-based Leopardo Construction broke ground on the center last week.

Lease-up of the project is progressing on schedule, says Curt Bailey, director of retail investments at the Chicago regional office of Archon Group, a subsidiary of The Goldman Sachs Group Inc. Archon’s Chicago office and Mid-America Asset Management are coordinating the leasing campaign for Poplar Creek Crossing. O’Brien & Associates is providing architectural services; The Rise Group of Chicago is the construction manager.

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