Tenant Update

Tucson, Ariz. — Floor & Décor has signed a long-term lease for a 58,205-sq.-ft. space at ABC Retail Center in Tucson, Ariz. It will be the specialty retailer’s first location in Tucson.

CBRE represented Floor & Décor in the transaction. The landlord, ABC Broadway/Kolb Center LLC of Tucson represented itself.

Algonquin, Ill. — Fuddruckers has opened a 6,600-sq.-ft. fast casual restaurant in the Algonquin Commons lifestyle center in Algonquin, Ill., a northwest suburb of Chicago. The new restaurant replaces a Cheeseburger in Paradise, according to Luby’s, Inc., the parent company of both brands and the owner of the site.

The Algonquin Commons restaurant will showcase Fuddruckers’ new interior scheme, which pays homage to the chains roadhouse look, while refreshing the look to cater to today’s more sophisticated tastes.

Indianapolis — Simon Property Group has announced a plan to spin off all of its strip center business along with its smaller enclosed malls into an independent publicly traded REIT called SpinCo.

New York — Sarah’s Kitchen has signed a lease for a 9,150-sq.-ft. space at 270 Madison Ave., between East 39th and East 40th Streets in Midtown Manhattan. Expected to open in third quarter 2014, the eatery will occupy approximately 6,350 sq. ft. on the ground floor and 2,800 sq. ft. in a mezzanine.

PD Properties represented Sarah’s Kitchen, which is part of the same restaurant group that operates Delmonico’s Gourmet Food Market. Winick Realty Group represented the landlord, ABS Partners in the transaction.

Hingham, Mass. – Building #19, the New England closeout retailer, which recently shut its doors after declaring Chapter 11 bankruptcy, is planning to reopen at least a few stores as specialty closeout rug retailers under the banner of “The Rug Dept.”

Houston -- Simon Property Group announced today that four new, high-end retailers, Rolex, Tod's, Trina Turk and Tourbillon, will be added to the retail mix at The Galleria shopping center in Houston. Gucci, Tory Burch, Zara, Sephora and Club Monaco will also execute lease renewals and expansions in 2014. In addition, Chanel has renewed its lease and will be renovating the boutique.

Details of 2014 activity at The Galleria in Houston include:

North Plainfield, Manahawkin, N.J. — The Stafford Park shopping center in Manahawkin, N.J. has named Levin Management as its exclusive leasing agent. The 350-acre mixed-use redevelopment project includes 400,000 sq. ft. of retail space, including anchor tenants Costco and Target. The site has received approval to add another 195,000 sq. ft. The new retail space includes several pad sites.