Tenant Update

New Hyde Park, N.Y. -- Kimco Realty Corp. announced that Conor C. Flynn, president and CEO, has been appointed to the company’s board of directors effective January 1, 2016, simultaneous with his elevation to the CEO role. Flynn succeeds David B. Henry who retired as vice chairman of the board of directors and CEO on January 1, 2016.

Saks Fifth Avenue has another store to its lineup at Brookfield Place in downtown Manhattan.

The retailer, a division of Hudson’s Bay Company, said it will open a 16,750-sq.-ft. dedicated men’s store at the center, in spring 2017. As previously announced, Saks will open an 85,000-sq.-ft. full line store at Brookfield Place.

Houston -- PM Realty Group announced earlier this month that Roka Akor Steak, Seafood & Sushi signed a lease for 6,591 sq. ft. of ground floor space at 2929 Weslayan, the 40-story luxury residential building at the northeast corner of Weslayan and West Alabama in Houston. This will be Roka Akor's first location in Texas, joining its four locations in Scottsdale, San Francisco, Chicago and Skokie, Illinois.

Occupancy costs are among the largest expenses for any retailer. Total lease obligations can exceed long term debt in many companies, reducing profitability and hindering growth. It doesn’t have to be that way though if operators follow four simple rules of retail real estate.

Allen, Texas -- Trademark Property, announced that jewelry designer Kendra Scott will open at Watters Creek at Montgomery Farms, the 800,000-sq.-ft. mixed-use center in Allen, Texas. The 2,054 sq. ft. boutique, which will be located near White House | Black Market and Anthropologie, is slated to open in spring 2016.

Vineland, N.J. -- PREIT announced its plans to open a Dick's Sporting Goods at Cumberland Mall in Vineland, New Jersey. The sports and fitness retailer will occupy the former J.C. Penney Department Store space in a 50,000 sq. ft. location.

“This transaction demonstrates PREIT's continued success in replacing anchors with in-demand retailers,” states Joseph F. Coradino, CEO for PREIT "The addition of Dick's Sporting Goods will improve the merchandise mix and solidify the tenant roster at Cumberland Mall.”

Denton, Texas -- The Weitzman Group announced it’s brokered a deal with Francesca's for 1,200 sq. ft. of retail space in Golden Triangle Mall, located in Denton, Texas. This will be Francesca’s first location in Denton.

Blake Shipp with the Commercial Retail Division of The Weitzman Group and Paul Burridge with MGHerring Group handled negotiations for the mall. Robert J. Wright with Collett Southwest represented the retailer.

Hastings, Minn. -- Mid-America Real Estate announced it recently secured a new retail lease on behalf of Westview Shopping Center in Hastings, Minnesota.

Ace Hardware signed a lease for 14,980 sq. ft. at Westview Shopping Center located at the corner of South Frontage Road and Pleasant Avenue.

Ace Hardware will anchor the 130,395 sq. ft. center that is also home to Sterling Drug. The location is expected to open in spring 2016.