Algonquin Galleria

Adam Firsel, development manager and finance director for Oak Brook-based Mid-America Development Partners, says the development cost is estimated at $35 million. The second phase will add 35,000 sf of retail, two restaurant pads and a furniture store to the center, which is under construction at the southeast corner of Randall and County Line roads. Construction is slated to be completed in spring 2009.

Algonquin Galleria is located across the street from the 600,000-sf Algonquin Commons. "It is a very strategic location along the Randall Road Corridor, across the street from Algonquin Commons, which is a very successful lifestyle center," Firsel says. "We identified this intersection as prime retail real estate."

Firsel tells GlobeSt.com that there is a 50-acre parcel adjacent to the retail center that the joint venture is in discussions to buy from the local property owner. Depending on tenant demand, the land could be developed as a third phase for Algonquin Galleria.

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