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Mid-America: Chicagoland retail development up
Oakbrook Terrace, Ill. — Shopping Center development in Chicagoland has improved significantly in recent years. Activity showed a 98.7% increase in total sq. ft. from 2012 to 1013, according to the “Chicagoland 2014 Shopping Center Report” just issued by Mid-America Real Estate Corp.
In 2013, owners developed approximately 2.26 million sq. ft., compared to 1.14 million sq. ft. in 2012.
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14 new tenants to Towne Centre at Laurel
Owings Mills, Md. — Towne Centre at Laurel in Laurel, Md., has announced leases for 14 new retailers and restaurants. The $130 million, 400,000-sq.-ft. mixed-use redevelopment of the former Laurel Mall is now 85% leased and under construction. The first phase is scheduled to open in March with the reopening of a new 70,000-sq.-ft. Burlington Coat Factory.
The remainder of the project will open this fall, featuring Regal Cinemas, Sports Authority and the first Harris Teeter in Prince George’s County, along with the following 14 new tenants: