Tenant Update

By Paul Kinney, [email protected]

Common Area Maintenance (CAM) charges are a headache for commercial tenants of all sizes. Unfortunately, overcharges make the management of CAM expenses a major problem for retail tenants. Responding to the CAM overcharge hot button, the National Retail Tenants Association (NRTA) has once again made CAM management a key topic of its education curriculum of its annual conference planned for this September in Orlando.

Columbia, S.C. -- Edens & Avant announced Friday that its CEO Terry S. Brown has been named the Ernst & Young Entrepreneur of the Year 2011 Carolinas Award winner.

The awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Brown was selected as the winner in the real estate category from nearly 100 nominations across the Carolinas.

Macon, Ga. -- Augusta, Ga.-based Hull Storey Gibson Cos. announced that Smok’n Pig BBQ will open a new restaurant at Macon Mall, located in Macon, Ga.

Macon Mall is preparing to launch a major redevelopment and renovation that will add, expand and relocate the tenant mix. The new restaurant will complete construction this fall and employ up to 150 people.
 

Niles, Ohio -- Youngstown, Ohio-based Cafaro Co., which owns Eastwood Mall in Niles, Ohio, announced Thursday that anchor Macy’s will begin a multi-million dollar renovation, which will be its first full-store refresh since its opening in 1969.

The renovation to the two-level, 157,000-sq.-ft. Macy’s will include new flooring, ceiling and wall treatments, additional accent lighting and new fixtures. The aisles will be reconfigured to improve flow and sight lines.

In the May 26 edition of SiteTalk, we asked the question, "Did you attend RECon 2011 in Las Vegas this week? If so, what was your key takeaway from the show?"  This is what several readers had to say:

New York City -- Centro Properties Group said Wednesday that Tuesday Morning stores have recently opened in Centro shopping centers in Pennsylvania and Virginia.

The retailer opened a 10,440-sq.-ft. store at New Britain Village Square, located in Chalfont, Pa., and a 17,089-sq.-ft. store at Jefferson Green, located in Newport News, Va.

St. Paul, Minn. -- Paster Enterprises announced Wednesday that six new tenants have been secured at the company’s projects throughout the Twin Cities area. 

New tenants include Massage Elements, V4U, Home Choice, Broadway Pizza, National Karate and United Family Medicine.

Indianapolis -- Commercial real estate firm Lee & Associates announced the addition of Robyn Smart as a senior advisor of the Indianapolis office.

Smart specializes in tenant representation, site acquisition and landlord representation. In her new role, Smart will be responsible for all aspects of retail brokerage.

Prior to joining Lee & Associates, Smart most recently served as an advisor for CB Richard Ellis.
 

Tampa -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Tampa, Fla. at Town Square Center to Great Clips.

The salon has leased 838 sq. ft. and is slated to open for business in summer 2011.
 
The 44,380-sq.-ft. shopping center is anchored by Petco alongside national retailers such as Starbucks, Panera Bread, Verizon and Pier 1 Imports.
 

Seattle -- Kate Spade New York announced it will open its first full-line, Washington State shop at Pacific Place in August.

The shop will open in 1,632 sq. ft. on level 1 next to BCBG.

Pacific Place features 50 shops, restaurants and an 11-screen movie theater at Sixth Avenue and Pine Street in downtown Seattle.