(Peoria, IL – December 14, 2015) – With the addition of a new multi-tenant building and other nearby projects, Grand Prairie Developments continues to grow, providing additional retail options in North Peoria while also strengthening our local economy. Right on the heels of the Hy-Vee Supermarket opening at Grand Prairie, Cullinan Properties is now constructing a 7,200 square foot building, at Plaza at Grand Prairie across from Hy-Vee, that will be home to Massage Envy, Great Clips, and two other retail storefronts yet to be named. This and other development projects in the city and the region fill the need for additional ways to spend money that stays right here in our community, by way of job creation and sales tax revenue generated.
With all the buzz about online shopping, you might be surprised to see new storefronts popping up. But this holiday season as many shoppers hunt for bargains online, as many as 72% of young shoppers do their research online before ultimately making their purchase in a store. In fact according to RetailNext, despite the upward trend in online shopping, a whopping 94% of total retail sales are still generated in brick and mortar stores. Kathleen Brill, Vice President of Leasing for Cullinan Properties, stated “Not only does shopping at a physical storefront allow you to see, touch and even try on an item before you buy, destination developments such as Grand Prairie offer something much more unique. Being able to shop, grab a bite to eat, catch a movie, and even pamper yourself with a massage make the trip an experience.”
From construction of tenant buildings to the jobs held by employees at the businesses that occupy those spaces, this kind of growth positively impacts the economy. According to the National Retail Federation, 42 million jobs are supported by retail establishments in the U.S. We’re seeing that impact right here in Peoria, with 20 construction jobs created to build the Plaza at Grand Prairie multi-tenant building, and the more than 35 jobs that will be generated by its first two businesses alone. Not to mention the construction and permanent jobs being generated by several new retailers at the Shoppes at Grand Prairie, the Louisville Sluggers Sports Complex and Holiday Inn Suites & Conference Center near the development, and the new facility and student housing for Methodist College slated to open in 2016. “All of these new projects and businesses add to the abundant and diverse offerings we envisioned for Grand Prairie Developments when we first broke ground in 2002,” said Diane Cullinan Oberhelman, Chairman and CEO of Cullinan Properties, Ltd. “It’s exciting to be a part of the continued growth in northwest Peoria.”
Cullinan Properties, Ltd., with offices in Chicago, IL, Peoria, IL and St. Louis, MO, is a multi-disciplined real estate firm that develops, manages and owns mixed-use, retail, residential, office and medical properties throughout the United States. In addition to the Streets of St. Charles, Cullinan recently completed the largest VA Clinic in the country in Austin, TX and opened The Levee District at East Peoria Downtown in East Peoria, IL. For additional information on Cullinan Properties, Ltd., visit www.cullinanproperties.com.