Business & Tech
$90M Shopping Center Underway At Former Avon Site
Florida-based Regency Centers paid $10.1 million for the site on Oct. 7, then sold part of the property to a joint venture including Northfield developer Focus for $8.3 million.
By Jennifer Fisher, Patch.com
Two real estate companies recently purchased the former Avon Products site at Golf and Waukegan roads and are moving forward with construction of a $90 million shopping center including a Mariano's, according to Crain's.
Florida-based Regency Centers paid $10.1 million for the 20-acre site on Oct. 7, then sold part of the property to a joint venture including Northfield developer Focus for $8.3 million, Crain's reports.
The site is in Glenview, though it borders Morton Grove.
Mariano's is planned as the anchor tenant at the 102,000-square-foot site owned by Regency, and there will be 13 other spaces to fill, according to Regency Centers' website. The real estate development company is planning to finish construction on Mariano's in summer 2014, with the store opening planned for fall 2014.
Also planned are a 238-unit, three-story apartment building and a drive-through bank, according to the village of Glenview. Commercial and residential construction is expected to begin in spring 2014 and continue through fall 2015, according to the village, while some intersection improvements will be made in the summer of 2014.
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