“Dead Mall” Being Reimagined by Chicago Developer

“Dead Mall” Being Reimagined by Chicago Developer

A “dead mall” once considered an eyesore in an Indiana town is being transformed into a retail and housing hub local leaders call “transformative.” The Junction at Logansport is taking shape on Logansport’s east side generating renewed interest in a part of town long neglected by many.

“Frankly, people were tired of looking at the mall,” said Bill Cuppy, Executive Director of the Logansport Cass County Chamber of Commerce. “This project has provided a nice kick-start for the Logansport economy. The east end of Logansport is now buzzing with new restaurants, retail, and a lot of progressive construction all because someone saw the potential in our town.”

Joseph DiCosola, Managing Partner of Park Development, a Chicago-based real estate developer, is the mastermind behind the new open-air retail center replacing most of what was left of the original Logansport Mall. Built in 1968, the mall sat largely vacant for the past decade.

“We found a community that was ready to embrace change,” says DiCosola. “They’ve been enthusiastic about this project from the jump, and it has been a complete joy to work with them. Community members are always thanking us for believing in this community and bringing business back to their end of town.”

Design plans by GEA Architects call for nearly 160,000 square feet of retail space with three available outlots. Two national brands recently signed a letter of intent to occupy one of those outlots. Planet Fitness opened a new location at The Junction last spring. Harbor Freight Tools will open a new location at The Junction in January and a Home2 Suites by Hilton will open this fall.

“We were quick to jump on board when we heard about this project,” says Mitesh Patel, Director of Sulai Hospitality, the company building the new hotel. “We have sister properties in Wabash and Marion, so we’re familiar with the market and we were not going to let anything keep us from being a part of this project.”

The Junction is shadow anchored by a Walmart Supercenter and a Home Depot with easements tying the two properties together. A pre-existing Dollar Tree and Dunham’s Sports will also remain.

Buxton, a leader in customer analytics, has studied the Logansport market and found a definite need for more clothing, electronics, and hobby stores as well as restaurants, medical facilities, and family entertainment.

“This area is rich for growth and development,” said Brian Demers, senior retail analyst at Buxton. “Our research found many residents are driving 30 minutes and more to get to the retail they need.”

Randall, Miller & Associates has been selected as the project engineer. Renderings are attached. Lee & Associates has taken the lead in securing tenants. Those interested in property renderings and learning more about leasing options, can call (317) 844-2700 or visit www.thejunctionlogansport.com.

In addition to the retail space, Park Development also has plans to build a single-family market rate housing project less than a mile from The Junction. Dubbed Lexington Village, the neighborhood will include 52 homes ranging in size from 900 to 3,000 square feet.

“Back when we started this project, the City of Logansport made it clear that new housing was also a top priority,” DiCosola says. “So not only are we supporting the shopping center with a new stream of potential shoppers, but we’re partnering with the city to build its largest single housing project in years.”

Those interested in learning more about the Lexington Village neighborhood, can visit www.lexingtonvillagelogansport.com.

Click to share!
Category Business Buzz