Tenant Update

To sophisticated landlords and property managers, co-tenancy provisions contained in commercial leases are routine and (relatively) unexciting. Unfortunately — and perhaps as a result — such clauses are often overlooked. But a co-tenancy default can have a significant impact on a landlord’s bottom line, so landlords and their agents who manage their properties should understand how these provisions operate and the remedies to which a tenant is entitled in the event of a default.

Atascocita, Texas -- Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm specializing in retail tenant representation, investment sales, and project development and leasing, announced that it has broken ground on the redevelopment of two buildings totaling 33,000 sq. ft. on 4.5 acres of land located Atascocita, Texas.

Modell’s Sporting Goods continues to grow its brick-and-mortar footprint. The New York-based company has added two more stores to its portfolio, one in Boston and the other in Philadelphia. Both stores are in prime locations formerly occupied by City Sports. (City Sports filed for bankruptcy in October 2016, and subsequently announced it would close all locations.)

In Boston, Modell’s opened an 11,000-sq.-ft. store on Boylston Street, in the city’s Back Bay area. It’s the retailer’s first outpost in downtown Boston.

Ross Dress for Less opened a new store in O’Fallon, Missouri on March 5.

The 25,000-sq.-ft. store is located at the O’Fallon Walk Shopping Center, 30 miles west of downtown St. Louis along Interstate 70 between Lake St. Louis and St. Peters, on the southwest corner of Highway K and Feise Road.

The opening is part of the retailer’s 2016 expansion program, totaling about 70 new locations during the year.

Ross Dress for Less on March 5 opened two new stores in the Chicago area.

The retailer opened a 27,000-sq.-ft. location in Berwyn, in Cermak Plaza, nine miles west of downtown Chicago at the southeast corner of West Cermak Road and Harlem Avenue.

It also opened an Archer Heights location, a 25,000-sq.-ft. store in the Pulaski Promenade, nine miles southwest of downtown Chicago at the northwest corner of 42nd Place and Pulaski Road.

A new tenant has been added to the lineup at American Dream, the mega retail and entertainment destination under construction in East Rutherford, New Jersey: Century 21.

The off-pricer will open a nearly 60,000 sq. ft. location at the long-delayed center, which when completed will boost such attractions as an indoor water park, a Lego Discovery Center, a 16-story indoor ski and snow park, a miniature golf course — and more than 450 retail stores.

St. Charles, Mo. -- Cullinan Properties announced that Streets of St. Charles, a mixed-use development located in St. Charles, Missouri, will add Orangetheory Fitness to its tenant line up.

Orangetheory Fitness will occupy 3,000 sq. ft. of space on Beale Street, next to Wasabi Sushi Bar. Construction is anticipated to begin in early April, and the estimated opening date is this fall.

Ross Dress for Less has added three new locations to its growing portfolio.

The retailer opened two 25,000-sq.-ft. stores in Wisconsin on March 5, including one in Milwaukee, at the Point Loomis Shopping Center. The second store is in Oshkosh, at the Market Fair Shopping Center.

In addition, Ross opened a 30,000-sq.-ft. store in Fountain Valley, California, at the Costco Center. Including the new location, Ross now operates 276 stores in California, its largest state.