Associated Bank announced the completion of a $17,750,000 land acquisition and construction loan to GW Properties for the development a 62,540-square-foot, four-building shopping center known as Willows Crossing. The multi-tenant center will be located at the southwest corner of Willow and Pfingsten Roads in Glenview, Illinois.
This is Associated Bank’s 11th loan to GW Properties. Senior vice president Daniel Barrins of the commercial real estate division of Associated Bank managed the loan and closing. Design Studio 24 LLC is handling architectural duties on the project. Currently, signed leases at the property include Mission BBQ, First Watch Café and an undisclosed 35,000-square-foot grocery tenant. Construction will be completed and retailers open for business in the spring of 2021.
GW Properties has developed an expertise in retail and mixed-use properties. Over the past decade, GW principals have been involved in the brokerage, investment and development of over $500 million of real estate in the Chicago area with a typical deal size ranging from $500,000 to $15 million.
