SCOTTSDALE, AZ (April 3, 2014) – Experts in single tenant, new build to suit development, SimonCRE inks another deal in a Chicago urban neighborhood. In cooperation with EZCORP, the commercial real estate development firm is purchasing an unused almost half-acre land parcel with plans to turn it into a stand-alone EZPawn retail store. The store will be a new addition to the residential community with construction slated to begin immediately. The new building will be completed by late summer with the retail outlet opening shortly after.
The south Chicago location is the second EZPawn retail shop that SimonCRE is developing this year in conjunction with parent company EZCORP. The first is in a small southern Texas market. While the geographic dynamics differ between the two locations, consumer needs within each market are similar, prompting the infrastructure expansion. The retailer assists consumers with short-term cash needs through collateralized personal property loans, purchasing unwanted merchandise or through paycheck advance signature loans.
As a national retail developer, SimonCRE efficiently navigates the local construction process delivering quality commercial projects to numerous communities around the country. The newest SimonCRE project will be a 5,600 square foot retail store located in an up and acoming south Chicago neighborhood just south of West 67th Street along Western Avenue. Because the surrounding community is a few short minutes from Midway International Airport, the area is experiencing steady growth with approximately 800,000 people living close by.
“Because they have such a firm understanding of their consumers’ needs, EZCORP is a great retailer to work with on development projects,” says Joshua Simon, president of SimonCRE. “The design and construction process is fluid and efficient with decisions made quickly. This allows us to deliver a completed project to the community on time and with little hiccups along the way.”