REBusinessOnline

VILLAGE MALL DEVELOPER TO ADD 78,000-SQUARE-FOOT OFFICE COMPONENT

DANVILLE, ILL. — Investment and development firm Howard & Mills Inc. and B&G Property Management are opening an office component within the Village Mall, which is located at 2917 N. Vermillion in Danville. The 78,000-square-foot office component, which has been named The Commons, will be situated in the vacant Steve & Barry’s corridor of the enclosed development.

“Simply put, the center provides too much retail space for the market,” explains Jean Ramirez, vice president of retail operations for B&G Property Management. “By introducing an office component to the center, you create synergy between the retailers and the offices.”

Essentially, The Commons will bring new customers to the existing retailers, and the office tenants will benefit from the retailers’ close proximity. Sears, Elder Bearman and County Market anchor the 545,000-square-foot mall, which also houses approximately 20 smaller retailers. Whether choosing where to eat lunch or trying to run errands, office tenants of the new mixed-use concept will benefit from the convenience that goes along with working close to retailers.

Construction of the project is scheduled to begin when some prospective tenants have signed letters of intent. Although a general contractor has not been selected, according to Ramirez, the mall owner wants to use a local company. Spaces within The Commons will range from 2,000 square feet to 50,000 square feet.

“Our goal is to increase foot traffic and sales for the retailers while providing convenient amenities to the office users,” Ramirez says. “Ultimately, we hope to create a mixed-use facility where both office users and retailers can grow, expand and benefit from each other.”

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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