Tenant Update

Wyomissing, Pa. -- Phoenix-based Cole Real Estate Investments said Monday that it has executed a lease with Jo-Ann Fabric and Craft Stores in Wyomissing, Pa., for approximately 25,000 sq. ft., backfilling a former Borders location.

The in-line store is located adjacent to OfficeMax, Toys “R” Us and Old Navy.

Waynesville, N.C. -- Shopping center developer CBL & Associates Properties, based in Chattanooga, Tenn., said Friday that it has launched construction on its newest community center project Waynesville Commons, located in Waynesville, N.C.

The 127,500-sq.-ft. shopping center will be anchored by a new 85,000-sq.-ft. Belk fashion department store, which joins the existing Walmart.

By Robert Machson,

Columbus, Ohio -- Casto said Wednesday that Larry Schwenker has joined the firm as VP property management.

Schwenker’s primary focus will be on the organization’s Midwest and Alabama commercial portfolio, which totals approximately 15 million sq. ft.

Schwenker was most recently a principal at Bryant Management Services, based in Atlanta.
 

Algonquin, Ill. -- Oak Brook, Ill.-based Inland Real Estate Corp. said Wednesday that Niko’s Lodge has leased the space formerly occupied by Barley House at Algonquin Commons in Algonquin, Ill.

Niko’s Lodge, a wilderness-themed steak and seafood restaurant, will open in the 8,824-sq.-ft. space in late October. This will be the restaurant’s second location.

San Jose, Calif. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in San Jose, Calif., to a new concept by Petco at Snell & Branham Plaza.

Specializing as a smaller neighborhood Petco store with pet supplies, products and pet food, Unleashed by Petco has leased 4,467 sq. ft. of space. The business is slated to open in fall 2011, bringing the center to 97% leased.

New York City -- Centro Properties Group US announced that three Big Lots have joined its portfolio, encompassing 92,006 sq. ft. and bringing Big Lots’ total store count with Centro to 49 locations.

A 30,000-sq.-ft. Big Lots opened at Arapahoe Crossings, in Aurora, Colo.; a 28,000-sq.-ft. store opened at Lagniappe Village, in New Iberia, La.; and a 34,006-sq.-ft. lease has been executed with Big Lots at Panama City Square, located in Panama City, Fla.
 

Los Angeles -- A report released Tuesday by commercial real estate firm C.B. Richard Ellis said that 59% of U.S. retailers plan to open more stores due to the attractive rental rates available in the current market environment.

Tarrytown, N.Y. -- DLC Management Corp, a national owner and operator of open-air shopping centers, announces Wednesday the launch of a new social media initiative that includes both business-to-business and business-to-consumer social networks.

New York City -- A bankruptcy judge gave Books-A-Million the nod Monday to take over the leases of 14 Borders Group stores for just under $1 million.

The stores are located mostly on the East Coast, and Books-A-Million is expected to take over the leases effective Sept. 20.