ALGONQUIN GALLERIA NAMES HSA AS EXCLUSIVE LEASING AGENT
October 21, 2008
Michael Havdala, senior vice president, and Kelsey Blindt, associate, HSA Commercial Real Estate, have been named the exclusive leasing agents for the 14-acre Algonquin Galleria located at the southeast corner of Randall and County Line Roads in Algonquin, Ill. Algonquin Galleria is located in the heart of the Randall Road corridor, which is a dense retail trade area that serves as the primary retail option for the far northwest suburbs of Chicago, which includes the towns of Algonquin, Elgin, Lake in the Hills, Carpentersville and Crystal Lake. The property shares a fully signalized intersection and access point with the dominant shopping center in the market -- the 600,000-square-foot Algonquin Commons lifestyle center.
The Algonquin Galleria upscale center was recently purchased by Ben Reinberg and Burt Follman of St. Louis, part of Deerfield, Ill.-based Alliance Equities, LLC, in a joint venture with Orange County, Calif.-based Nelson Brothers.
Algonquin Galleria was constructed in 2006 by Mid-America Development Partners, and features 83,441 square feet of retail space with high visibility situated along a 3-mile stretch of Randall Road, an area that contains over 2.5 million square feet of retail. The center is anchored by Best Buy and La-Z-Boy. Restaurants include Potbelly Sandwich Works, Famous Dave’s and Jamba Juice. The spaces feature high quality aesthetics, pedestrian-friendly features and striking architecture. In addition, several separately owned parcels are situated within the center, including Brunswick XL, Dania, Ethan Allen and Golden Corral.
There is currently up to 7,800 square feet of in-line space available, along with a high-visibility freestanding corner outlot at the center’s main entrance along Randall Road.
Celebrating 27 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. Along with developing all kinds of commercial real estate across the United States, its brokerage divisions have completed more than 7,500 transactions in 43 states representing both owners and tenants, the asset management division currently manages a property portfolio in excess of 15 million square feet in 12 states and the firm presently owns over 17 million square feet of commercial property in 14 states.
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