Tenant Update

Cincinnati — Saks Fifth Avenue has signed a letter of intent to relocate its downtown Cincinnati store to The Kenwood Collection, which Phillips Edison & Co. is transforming from a regional destination to a super-regional destination that will draw shoppers from three states.

According to the letter of intent, Saks will lease 80,000 sq. ft. of retail space over two levels of a building that fronts I-71. Plans call for the store to open in the spring of 2016.

New York — SL Green Realty Corp. and partner Jeff Sutton have announced the formation of a venture that has acquired a 49-year leasehold interest covering the entire retail portion of 650 Fifth Avenue. The transaction was completed with former U. S. Magistrate Judge Kathleen A. Roberts, the court-appointed federal monitor and interim trustee of the landlord, 650 Fifth Avenue Company.

New York — Adding to existing locations in Manhattan and Miami Beach, Big Drop, the women’s clothing retailer, has leased a third New York City storefront at 253 Columbus Avenue in Manhattan’s Upper West Side. The new store has 650 sq. ft. on the ground floor plus a 400-sq.-ft. storage basement.

Winick Realty Group represented Big Drop in the long-term lease transaction. Parkway East Properties LLL, the landlord negotiated on its own behalf.

Big Drop’s other Manhattan stores are in SoHo and the Upper East Side.

Fort Worth, Texas — Trademark Property Co. has announced that Trina Turk and Kendra Scott Jewelry will open at Market Street-The Woodlands, a mixed-use destination located north of Houston.

Both retailers plan to open in the spring 2014. Construction of the new 2,000-sq.-ft. Trina Turk boutique will begin in January. Work will get underway on the 1,200-sq.-ft. Kendra Scott store this month.

New York -- European Wax Center, a national chain offering waxing services for men and women, has taken space in two upper west side locations, according to Winick Realty Group, which represented the tenant in both transactions.

European Wax Center will occupy 1,500 sq. ft. at 2409 Broadway between 88th and 89th Streets. NGKF represented the landlord, 2409 Broadway Associates.

Chicago — Four new tenants have joined the Glen Town Center in Glenview, Ill., according to CBRE, the broker in the transaction.

Fast-casual burger chain MOOYAH made the center its 60th location in a roll-out with the goal of 100 restaurants by 2014. Pinot’s Palette, a national paint and sip franchise, is opening its third Illinois location and 48th overall. Mingle Juice is the third new tenant. Finally, The Curragh Tradition Irish Pub will make Glen Town Center its fourth location.

West Orange, N.J. — Retro Fitness and Chipotle have signed long-term leases at West Orange Plaza in West Orange, N.J., according to Levin Management, which represented the landlord in the transaction.

Retro Fitness took 14,115 sq. ft. and was represented by Katz & Associates. Represented by Winick Realty Group, Chipotle leased 2,557 sq. ft.

Tarrytown, N.Y. — DLC Management Corporation, a national owner and operator of open-air shopping centers, announces the following new leases that were signed in October 2013:

•    Back to Bed, 3,852 SF, Crossroads Shopping Center – Schererville, Ind.
•    Better Sofas, 3,590 SF, Southwest Plaza – Roanoke, Va.

•    China Buffet, 4,500 SF, King City Square – Mount Vernon, Ill.