Due to "strong potential demand" for restaurants and retailers created by the 84South mixed-use project, an Illinois developer is planning a nearly 10,000-square-foot multi-tenant building at the southwest corner of South 76th Street and West Holmes Avenue in Greenfield.
[caption id="attachment_378330" align="alignright" width="300"]
The proposed roughly 9,800-square-foot multi-tenant retail building in Greenfield. (Rendering: GMX Real Estate Group LLC)[/caption]
According to development plans filed with the city, Northbrook, Illinois-based GMX Real Estate Group LLC is proposing to combine the properties at 7611 and 7631 W. Holmes Ave. to create a 1.2-acre site near Southridge Mall. At the site, the developer would build a 9,800-square-foot building with drive-thru that could accommodate up to three tenants.
If approved by the city, construction is expected to start this fall and be finished by next summer. The project team consists of GMX, Elk Grove Village, Illinois-based JTS Architects, Schaumburg, Illinois-based RTM Engineering and Naperville, Illinois-based Design Perspectives Inc.
A city staff report states GMX has an interest in the project due to continued interest from prospective tenants that stems from the 84South project, which is a little less than a mile away from the proposed development site.
The 48-acre mixed-use 84South project, which was developed by Milwaukee-based Cobalt Partners LLC, is located at the northwest corner of South 84th Street and West Layton Avenue. Tenants include an Aurora Health Care ambulatory surgery center
and medical office building, a Kohl's store
and Fresh Thyme Farmers Market, among others. The development also includes 268 residential units.
"With the successful tenant openings in the 84 South project in the trade area, the developer stated that there continues to be strong potential demand for additional restaurants and retailers who have a desire to locate within the Greenfield marketplace," the staff report states.
The developer has "substantial leasing interest" from a number of national and regional restaurants, the report adds.
GMX did not respond to requests for comment. The staff report indicates the development team has been involved with more than 8 million square feet of retail projects around the U.S.
Recent projects the team has worked on in Wisconsin include The Shoppes of Lake Geneva, which consists of Starbucks, AT&T, MOD Pizza, Game Stop and Aspen Dental, as well as The Shoppes at Drexel Square in Oak Creek, which features tenants such as Potbelly, Five Guys, MOD Pizza, Orange Leaf Frozen Yogurt and Men's Hair House.
Development plans will be considered by the Greenfield Plan Commission on Tuesday evening.
Conceptual plans for the development were brought forward to the commission in December, at which time most members viewed the proposal favorably, according to the staff report.