Case Study: 3 New Leases + 2 Relocations = 100% Occupancy
Heartland Crossing Shopping Center
Ridge Road & Route 6
2051 Ridge Rd. Minooka, IL 60447
Senior Broker, Zach Slagle, took over the leasing responsibilities mid-2018 when the center’s vacancy rate approached 31%. Since the property was developed in 2005, the majority of the center’s vacancy was raw space that required substantial capital to prepare it for lease. The space condition, and the limited number of retailers actively seeking expansion, necessitated a different approach to leasing.
Slagle strategically navigated the relocation of two long-term tenants, H&R Block and Angie’s Tobacco, while also executing leases with AT&T, Arch Threading and Anytime Fitness. These relocations connected two formerly disjointed spaces and made the required square footage for a larger junior anchor tenant.
As a fully leased center, Heartland Crossing Shopping Center’s market value has increased by $2.6 million and is better positioned to meet the needs of the growing population.
Some of the work at this retail center helped Slagle earn CoStar PowerBroker award and made him Chicago’s Underserved Market Expert. For the past 4 years, Slagle has held the position of the #1 broker in Chicago’s underserved markets, by deal count and volume, according to CoStar reports.