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Primestor Starts Construction on $93M Plaza

CHICAGO-Marshfield Plaza will be a 440,000-sf shopping center on the South Side that will be anchored by Target.

By Gina Kenny | Updated on August 24, 2007

CHICAGO-Primestor Development, based in Beverly Hills, CA, has started construction on Marshfield Plaza, a 440,000-sf shopping center on the South Side. The shopping center at 119th Street and Marshfield Avenue will be anchored by a 126,000-sf Target, says Eric Salcido, director of development for the Midwest for Primestor. The cost of the project is approximately $95 million, not including the cost to construct the Target, Salcido tells GlobeSt.com.Tenants are expected to include major national retailers, “sit-down” restaurants, fast-food establishments, banks apparel retailers and other retailers, Salcido says.

The center will have two major anchors, including Target; 11 junior anchors; restaurants and other retailers. Leases are being negotiated with Chili’s, Fifth Third Bank, Panda Express, Marshall’s, Staples, Subway and others, says Gene Detchemendy, partner with Primestor and director of leasing. About 90% of the center is currently either leased or in lease negotiations, Detchemendy says. The asking lease rate is in the “$36 range” triple net. Marshfield Plaza is expected to open in fall 2008.

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