Tenant Update

Prince Frederick, Md. -- Brixmor Property Group announced that Jo-Ann Fabric and Craft will open a 12,020-sq.-ft. store at Fox Run, located in Prince Frederick, Md.

Brixmor, based in New York City, is the owner of Fox Run.

Santa Monica, Calif. -- Beverly Hills, Calif.-based Maxxam Enterprises said that Steak ‘n Shake is entering the California market with a new restaurant on Third Street Promenade in Santa Monica.

The 4,300-sq.-ft. space is located near the intersection of the Promenade and Broadway, across the street from Santa Monica Place, the new upscale shopping mall in Downtown Santa Monica.

Steak ‘n Shake said it plans for a grand opening later this year, after completing tenant improvements to its space.

 

Pinecrest, Fla. -- Terranova Corp. said that it has signed a deal with Spanish restaurant chain 100 Montaditos to open a unit at Suniland Shopping Center, in Pinecrest, Fla.

100 Montaditos has signed a lease for 2,500 sq. ft. in Suniland, where it is projected to open in fourth quarter 2013. It is the third deal Terranova has transacted with 100 Montaditos, which it has signed in Coral Gables’ Miracle Mile and in downtown Miami’s Vizcayne, a condo tower with ground-floor retail.
    

New York -- Children’s apparel retailer Carter’s has celebrated the grand opening of its newest New York store at The Shops at SkyView Center in Flushing, Queens.

Located on Level B across from Chuck E. Cheese’s, Carter’s held an official ribbon cutting ceremony to formally launch the new space.

Dallas -- SRS Real Estate Partners and Cresa announced an agreement to form a new company to perform lease administration services for retail, office and industrial clients.

The new company will be known as SRS-Cresa Lease Administration, and will deliver a spectrum of lease administration services including critical date management, CAM audits, occupancy cost reconciliations, and full portfolio lease administration services out of currently established offices in Dallas and in Chicago.

NEW YORK — Retailer Saks Incorporated will be closing its Saks Fifth Avenue store located in the WestShore Plaza in Tampa, Fla., May 4.

“This planned closing is in line with our strategy of using our resources in our most productive Saks Fifth Avenue stores. We regularly assess the productivity, profitability and potential of each of our stores and may determine that a closing is appropriate from time to time,” said Steve Sadove, chairman and CEO of Saks.

Indianapolis -- Simon Property Group announced today that, in partnership with Mitsubishi Estate Co., Ltd., it has opened Shisui Premium Outlets (Shisui Town, Inba District, Chiba Prefecture), the ninth Premium Outlet Center in Japan.

Knoxville, Tenn. -- CHM said that its Northshore Town Center mixed-use property will add First Tennessee Bank and ORNL Federal Credit Union to its tenant roster.

The two financial institutions will join fast-casual pizza restaurant Uncle Maddio’s, scheduled to open its first Tennessee location at Northshore Town Center later this spring.