Tenant Update

Oakbrook Terrace, Ill. -- Mid-America Asset Management said that several retail leases have been completed at six shopping centers in Chicago’s western suburbs. Mid-America is the exclusive leasing representative of each of the centers.

The Shops at South Elgin (South Elgin, Ill.) signed a lease for 6,604 sq. ft. with independent health food/vitamin retailer Fruitful Yield, to expand the current tenant’s space by 3,264 sq. ft. The newly expanded store is expected to open June 1.

Boynton Beach, Fla. -- Indianapolis-based Simon Property Group announced that Stardust Arcade, an adult penny redemption arcade, has opened at Boynton Beach Mall, in Boynton Beach, Fla.

The 10,000-sq.-ft. space features 150 machines within a Las Vegas-style setting showcasing faux Roman columns, marble details and hand-painted Greek themed murals created by Florida Atlantic University’s Arts Professor Jim Crane and his fine art students.

From where I sit, I’ve noticed a certain “buzz” of optimism in our industry -- frustrations and anxieties from a tough couple of years seem to be giving way to increasingly sunny retail sales forecasts. Is this sudden sense of optimism justified by cold, hard facts? Or, is this increasing sense of optimism somewhat irrational?

Located just 10 miles northwest of downtown Atlanta in Smyrna, Ga., The Crossings at Four Corners is currently undergoing a complete revitalization. The 153,000-sq.-ft. redevelopment, which officially broke ground on Feb. 8, includes the installation of a new traffic signal at the north end of the property, the renovation of approximately 60,000 sq. ft. of retail space and the addition of several outparcels. The true core of the project, however, will be the brand new, 96,000-sq.-ft. Kroger Food store.

Kokomo Ind. -- The Bon-Ton Stores said Thursday that it has signed a letter of intent with Simon Property Group for a 60,000-sq.-ft. facility at Markland Mall, located in Kokomo, Ind.

According to the department store retailer, the existing building will be remodeled by November, at which time Bon-Ton will open a new store under the Carson’s nameplate, replacing its current Elder-Beerman store presently located in Kokomo Mall.

Cary, N.C. -- Jacksonville, Fla.-based Regency Centers said it has leased 1,626 sq. ft. of restaurant space NY Bagel Café & Deli, which is opening its new store at Shoppes of Kildaire, located in Cary, N.C.

NY Bagel is slated to open this summer, and its addition brings the shopping center to 97% leased.

The 147,651-sq.-ft. Shoppes at Kildaire is anchored by Gold’s Gym and Home Comfort Furniture alongside national retailers such as Trader Joe’s, Staples, Massage Envy and Subway.

North Haven County, Conn. -- Purchase, N.Y.-based National Realty & Development Corp. announced that Famous Footwear opened at North Haven Pavilion, located in North Haven, Conn., on March 9.

Target, Sports Authority and Michaels anchor the 274,000-sq.-ft. center.
 

New York City -- Robert K. Futterman & Associates announced the promotions of Gary Alterman, Sal Ferrigno, Jackie Totolo and Elyse Bandel in the firm’s New York office.

Alterman has been promoted to executive VP from senior VP. Ferrigno has been promoted to VP from senior managing director. Totolo has been promoted to director from associate.  Bandel has been promoted to executive VP, marketing & communications, from senior VP, marketing & communications. 

Las Vegas -- Miracle Mile Shops at Planet Hollywood Resort & Casino said it has added over 50,000 sq. ft. of new and remodeled tenants to the center throughout 2011.

Multiple new merchants totaling 17,300 sq. ft. are set to open at Miracle Mile Shops, including Guess (June), Pandora (May) and Chinese Laundry (April). Additionally, nine merchants totaling 34,422 sq. ft. such as Victoria’s Secret, Lucky Brand Jeans and Bebe are remodeling existing locations.

Jacksonville, Fla. -- Atlanta-based Newmark Knight Frank Capital Group said it has been retained as exclusive marketing agent for Crossroads Square, a 174,153-sq.-ft. neighborhood retail center in Jacksonville, Fla.

Anchor tenants at Crossroads Square include Floor & Décor, Office Depot, Harbor Freight Tools and Dollar General.