Tenant Update

Mission Viejo, Calif. — The Shops at Mission Viejo, a Simon Property Group property in Mission Viejo, California, has welcomed Kurt Webb as the new general manager. Webb began working with the center in mid-April and recently relocated to the region. He came on full time as of June 1.

Webb will be responsible for local leasing, tenant relations, building operations, security and marketing efforts. Additionally, he will act as a key liaison for various community and strategic organizations.

New York — Handcrafted eyewear retailer, Dita, has leased a 1,300-sq.-ft. store at 273 Lafayette Street in SoHo. It will be Dita’s first Manhattan locations and its New York flagship. RKF represented Dita in the transaction, while The Lansco Corp. acted on behalf of the landlord, 157 Prince Street Associates.

Kendall, Fla. — Venetian Nail Spa has opened its 34th nationwide location at Kendall Village Center in Kendall, Florida. The 2,950-sq. ft. location between Lane Bryant and Famous Footwear brings the center’s occupancy rate to 99%.

Berkowitz Development Group represented the landlord, Kendall Village Associates, and completed the lease for the new tenant.

▲ Understand the assets covered by your leases: Taken together, leases are more than just one of a chain’s largest costs — they are the largest fixed expense, and they are fixed for the long term. As a rule, individual leases average seven to 10 years.

“Understanding that is critical,” said Michael P. Glimcher, chairman and CEO, Glimcher Realty Trust, Columbus, Ohio.

Youngstown, Ohio — Chipotle Mexican Grill will debut at the Ohio Valley Mall in St. Clairsville, Ohio, in November. It will be the first Chipotle in the Ohio Valley region. The restaurant’s 2,195-sq.-ft. space is in a building currently undergoing renovation. Two other new merchants, to be announced in the near future, will join Chipotle in the building.

Cafaro affiliated companies own and manage the recently renovated Ohio Valley Mall.

Philadelphia — Pennsylvania Real Estate Investment Trust has executed leases with Retail Group of America to bring three international brands F&F, Flormar and SuiteBlanco to the Patrick Henry Mall in Newport News, Virginia. The transactions illustrate PREIT’s strategy for improving portfolio performance by seeking out emerging, first-to-market options.

Washington, D.C. — Regency Centers plans to redevelop Kings Park Shopping Center in the Northern Virginia town of Burke. The work will include a facelift, enhanced common areas and structural expansion.