Tenant Update

New York -- Saks Inc. said Thursday that it will close its Highland Park, Ill., store, located in Renaissance Place, and its Austin, Texas, store, located in the Arboretum Market.

Both stores are slated to close on Dec. 31.

“Who agreed to this language?”

How many times have each of us been handed leases containing  terms which cause us to   ask , “Where did these provisions come from?” or “This is the first time I’ve seen these stipulations, did the transactions group understand the costs of compliance?” The answer is: probably more times than we’d like to recall.

Wilmington, N.C.  -- Brixmor Property Group said that Rent-A-Center recently expanded from 3,200 sq. ft. to 4,800 sq. ft. at University Commons, located in Wilmington, N.C.

Brixmor, based in New York City, is the owner of University Commons.

Fort Myers, Fla. -- Brixmor Property Group announced that Rainbow recently expanded from 4,000 sq. ft. to 6,000 sq. ft. at Morse Shores, located on Palm Beach Blvd. in Fort Myers, Fla.

Brixmor, based in New York City, is the owner of Morse Shores.
 

Boston -- CBRE/Grossman Retail Advisors said that Nordstrom will open a new Nordstrom Rack at The Newbry in Boston’s Back Bay neighborhood, further expanding its presence in the Boston market to four full-line stores and four Nordstrom Racks.

The approximately 38,000-sq.-ft., two-level store is scheduled to open spring 2013.
 

Conshohocken, Pa. -- Pet Supplies Plus has signed leases for three new stores in the Delaware Valley, totaling more than 26,000 sq. ft.

An 8,700-sq.-ft. store will open at Greentree Square Shopping Center in Marlton, N.J.; a 9,800-sq.-ft. store will open at Doylestown Pointe in Doylestown, Pa.; and a7,650-sq.-ft. location will open at The Shops at Blue Bell in Blue Bell, Pa.

All three stores are slated to open prior to year’s end.

Dallas -- Cypress Equities said Friday that Iconic Salon Suites will open at Village on the Green in north Dallas.

Iconic Salon Suites will occupy a 6,800-sq.-ft. retail space beside Jos. A. Bank, and joins recent additions such as Allstate, Plush Nails & Spa and Chiro One Wellness Centers.

Plymouth Meeting, Pa. -- Fameco Real Estate announced that it has hired three new salespeople and has expanded its property management group with the hire of a new property management accountant and several internal moves to better support its growth.