Tenant Update

By Michael Lebowitz

Chicago — Fresh Thyme Famers Market has leased 25,000 sq. ft. at Cress Creek Square in Naperville, Ill., from Arthur Goldner & Associates. Office Max will vacate the space, and the grocer will open in 2015. CBRE represented Fresh Thyme in the transaction.

The center also hosts Binny’s, Blast Fitness and Car Quest as well as several smaller lifestyle stores and restaurants.

Pittsburgh – Dick’s Sporting Goods Inc. opens three new stores on April 25. The stores are located in Lawton, Okla., Alabaster, Ala., and Tampa. Fla.

The Lawton store will be located at Lawton Town Center, while the Alabaster store will be located at Colonial Promenade Alabaster and the Tampa store will be located at Westshore Plaza. As of April 25, Dick’s will operate 566 stores in the U.S., including 11 in Alabama, 27 in Florida and eight in Oklahoma.

Chattanooga, Tenn. — In an April 11 conference call, CBL & Associates Properties provided an in-depth review of its business strategy, including a number of initiatives designed to enhance shareholder value.

On the conference call, the Company outlined the following goals and objectives through a slide presentation:

Position the portfolio to produce sustained same-center net operating income (NOI) growth of 2-4%, about double the current range of 1%-2%;

Richmond, Va. — Divaris Real Estate has announced the signing of two retail leases in the greater Richmond suburb of Midlothian.

Tex-Mex restaurant Chuy’s has leased 7,449 sq. ft. in the Village at Swift Creek in Midlothian. The Richmond office of DRE represented the landlord, Swift Creek Associates. This will be Chuy’s second Richmond location. Chuy’s will join Guitar Center, Babies “R” Us, TGIF, Red Lobster and Cracker Barrel in the development.

Dallas — SRS Real Estate Partners welcomes Logan Elder as an associate in the Atlanta office. She will focus on tenant representation.

Elder comes to SRS from Post Properties, where she handled management and leasing for multi-family developments retail and restaurant space.

Walnut Creek, Calif. — John Cumbelich & Associates, a San Francisco Bay Area-based commercial real estate firm, has announced the sale of 1280 Willow Pass, a 73,167-sq.-ft. shopping center in Concord, Calif.

X Team International partner, John Cumbelich & Associates, represented both the buyer and the seller in the transaction, which attracted multiple offers.

Sports Authority opened two locations in Puerto Rico — on in San Juan and the other in Carolina — early this week, bringing the total number of stores on the island to three. The stores are located in the Plaza Las Américas and Plaza Carolina shopping centers, respectively.

According to the company, both locations are equipped with improved store designs for effortless navigation and offer extensive product selections. The stores will feature specialty sport shops with products from brands including Nike, Under Armour, Puma, Adidas and Columbia.

Purchase, N.Y. — National Realty & Development Corp. has announced that Flynn & O’Hara Uniforms and Advantage Health have inked leases in the 184,575-sq.-ft. Kohl’s Plaza in Holmdel, N.J.  

The center is located at the intersections of Highway 35 and Union Avenue.

Minneapolis — Twin Cities’ fashion retailer “Len” has renewed its lease at Minneapolis City Center with a seven-year commitment. The existing 7,196-sq.-ft. store is the retailer’s only downtown location following the consolidation of several brands and stores over the last six months. The chain operates five more locations in Minnesota and one in Illinois.

Minneapolis City Center is the two-story retail portion of a 1.6 million mixed-use property owned by Shorenstein Properties LLC.