The parcel was formerly the site for the Greater Chicago Auto Auction, which has moved to Matteson, IL and "this was their excess real estate," Brackett says. The parcel is near the Cicero Avenue interchange for I-294. "It is not easy to find large sites inside that I-294 area," Brackett says. "And, Cicero is a really good retail corridor."

Before housing the auction, the site at one time was a stone quarry, transitioned to a lake and then was paved over, says Heather Battaglia, a vice president with Interstate. Quarry Plaza will be anchored by Home Depot, which has purchased about 3.5 acres of the land from Interstate, Battaglia says. Home Depot will occupy 105,733 sf and have a 20,389-sf garden center, according to the most current site plan.

Other tenants include L.A. Fitness, which signed a lease for 45,000 sf. Ten-year leases have also been signed by Hair Cuttery, Starbucks Coffee and Jimmy John's Gourmet Subs. Approximately 40,000 sf of the 237,970-sf retail center remains to be leased and Interstate is looking for junior anchors for the development now, says Marty Wynne, a partner with Interstate. The asking rate for space in the center is $30 per sf, net, with the asking rate for the junior anchor at $15 per sf, net, he says.