CBRE Fully Leases 100K SF Former Kmart Property in Joliet
CBRE has arranged the final deal to complete the leasing efforts totaling 100,000 square feet to bring Joliet Marketplace to full occupancy. A 3,500-square-foot lease with UrgentVet was the most recent transaction, with the clinic slated to open in the spring of 2023.
CBRE’s Sean McCourt and Joe Parrott represented building ownership, IG Capital, in the transaction. Positioned at the busy northwest corner of Jefferson Street and Larkin Avenue, Joliet Marketplace is less than a mile north of an I-80 interchange.
The property was a former K-Mart and had stood vacant since 2016 before IG Capital purchased the building in 2020 and brought on CBRE to assist with redeveloping the site.
“We are thrilled to see the turnaround at this property be completed,” said McCourt. “It was a pleasure working with IG Capital and the City of Joliet to help transform a long-vacant building into a thriving community destination.”
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Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.