Tenant Update

Chicago — Athletic shoe and apparel retailer ASICS has signed a 5,254-sq.-ft. lease in Chicago’s Bucktown area. According to RKF, who represented the landlord, 1630 Damen LLC c/o Jenel Management Corporation in negotiations for the long-term lease, this will be Asics’ first store in the Midwest and third in the United States when it opens early next year.  

Blatteis & Schnur represented Windsor Financial Group, an independent licensee of AsicsAmerica in negotiations.

Miami — The Cheese Course, a European-style cheese shop and bistro, has leased 1,500 sq. ft. in the plaza of Miami’s Southeast Financial Center, Florida’s tallest and largest office tower and plaza, totaling 1.225 million sq. ft.

The newest tenant joins other South Florida dining favorites including Spris, and The Newsstand Café by Books & Books.

Tucson, Ariz. — Little Caesar Enterprises has signed a 1,494-sq.-ft. lease in Northgate Plaza in Tucson, Ariz. Expected to open in the first quarter of 2014, it will be Little Caesars Pizza’s sixteenth store in Tucson.

Commercial Retail Advisors represented the landlord, TNP SRT Portfolio I, and Retail Advisors Southwest represented Little Caesar Enterprises.

Joseph Coradino stepped up to the post of CEO at Pennsylvania Real Estate Investment Trust in June of 2012. At the time, he had been with PREIT and a predecessor company for three decades. Since 2004, he had served as president of PREIT Services and PREIT-RUBIN. He had been a Trustee since 2006.

Hoffman Estates, Ill. – As part of a wide-ranging strategic review of its business, Sears Holdings Corp. is considering spinning off its Lands’ End and Sears Auto Center brands. The company’s Sears Canada subsidiary has also sold five Canadian store leases to Cadillac Fairview Corporation Limited for about $383.4 million.

New Hyde Park, N.Y. — Kimco Realty Corp. has announced a purchase and sale agreement to acquire a 24-property retail portfolio in New England for $270 million, which includes the assumption of $121.5 million of mortgage debt.

The 1.4-million-sq.-ft. portfolio is 96% occupied. It includes 17 properties in the Boston metropolitan market. Anchor tenants include Whole Foods, Trader Joe’s, Lowes, Kohl’s, Petco, Pier 1 Imports, Aldi Supermarket, CVS and Walgreens.

New York -- Lane Bryant has announced the opening of three new stores and one relocation of an existing store.

The specialty apparel retailer plans to open a new store in the Miracle Mile Shopping Center in Monroeville, Pa., on Oct. 25, with the grand opening running through the weekend.

Lane Bryant also plans to open a new store at Rushmore Crossing in Rapid City, S.D. on Oct. 25, with the grand opening continuing through Sunday.

Columbus, Ohio – Lane Bryant opens three new locations and a relocated store on Oct. 25. The stores are all located at shopping centers.
    
The new stores are located at Miracle Mile Shopping Center in Monroeville, Pa., Rushmore Shopping Center in Rapid City, S.D., and Commons at Magnolia in Florence, S.C. Lane Bryant also opens a relocated store outside of The Promenade at Millcreek Mall in Erie, Penn. on Oct. 25.