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CHICAGO -Primestor Development has broken ground on a 440,000-square-foot, Target-anchored retail project on the south side here. The new Marshfield Plaza retail center will replace the shuttered 500,000-square-foot Libby canning plant and signifies a cornerstone of redevelopment activities occurring in the 34th Ward.
"Marshfield Plaza will be the catalyst of significant development activity immediately surrounding the site, as well as in adjoining neighborhoods," said Paul R. Bryant, principal of Mid-America Real Estate, the consulting brokers on the project. "The community has long been underserved as far as providing quality retail options that fill their daily needs and services. Marshfield Plaza will provide an excellent tenant mix, anchored by Target that will allow the constituents of the community to shop and dine in their own community."
A second major anchor, 11 junior anchors, small shops and restaurants will complete the mix for the center that is scheduled to open in fall 2008.
Primestor has specialized in bringing the quality retail and shopping center formats usually found in suburbs to dense and urban minority neighborhoods in and around Los Angeles. The privately held company opened a Chicago office in 2005, and is looking at other opportunities in the area.