Tenant Update

Washington, D.C. —Marshall’s has opened its second Washington, D.C. store. According to the Washington, D.C., Economic Partnership, the 28,925-sq.-ft. store is located at the National Press Building at 14th and F Streets downtown. Marshall’s is planning a third location for the Shops at Dakota Crossing in the city’s northeastern quadrant.

Chicago — Hand & Stone Massage and Facial Spa has leased 3,200 sq. ft. at Heritage Plaza in Carol Stream, Ill. This is the fourth Hand & Stone location in the Chicagoland area as the company continues to expand in the region.

Heritage Plaza is a 128,871-sq.-ft. shopping center anchored by Jewel Osco. CBRE www.cbre.com represented the management company, Inland American Retail Management LLC. Baum Realty Group represented Hand & Stone.

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.