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April 5, 2014

New owner takes over strip mall

FULTON, Ill. — Growth in business may be on the rise in Fulton now that a five-unit strip mall that sat vacant for several years is ready to be utilized.

Craig Wilson is the property’s new owner, closing on the mall on March 28. While he has an extensive background in construction and residential development, this is his first foray into commercial buildup.

“We wanted to get our feet wet in commercial property,” Wilson said. “And the further we get away from 2007 and 2008, the economy continues to get stronger so we thought now was a good time to do it.”

Wilson bought the property under the name Triple W Properties, a company he owns with his father, and hopes to get a tenant base developed within the next few months. Once he is able to generate interest in potential businesses, he will then customize each unit to fit their individual needs.

Before he is able to do that, some larger renovations are in order. First on the list — a new roof.

The building is approximately 25 years old and the roof is the same age, so in order to market a unit to an interested tenant, Wilson wants to make the location as appealing as possible.

“We wanted to get it down to bare walls and fix as much of it up as we could,” Wilson said. “That way when a tenant comes in it’ll be move-in ready and will reduce their initial start-up cost.”

Next on the list of major renovations is new siding to the entire strip mall to give it an updated and cohesive look. He also is looking at adding landscaping to create an aesthetically pleasing image to an area heavy with concrete.

He hopes to accomplish this all in a three-week span before his construction company, based out of Sterling, Ill., hits their busy season.

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