Real Estate

Wheaton, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that Yoga By Degrees and Smashburger recently signed leases at Rice Lake Square in Wheaton, Ill., a western suburb of Chicago.

The independently owned yoga studio is slated to open this spring in 4,598 sq. ft. of space. Denver-based Smashburger, a privately held gourmet burger chain, leased 2,200 sq. ft. of space, with plans to open this summer.

Rice Lake Square is a 251,313-sq.-ft. shopping center anchored by Whole Foods, Stein Mart, Borders and PetSmart.

Silver Spring, Md. -- Jacksonville, Fla.-based Regency Centers said it has leased 1,990 sq. ft. of restaurant space in Silver Spring, Md., at Woodmoor Shopping Center to Chipotle Mexican Grill.

The restaurant is slated to open this summer.

The 67,403-sq.-ft. shopping center includes national retailers such as CVS/pharmacy, Starbucks, The UPS Store and Tuesday Morning.

Charlotte, N.C. -- Lincoln Harris, which handles the leasing and management for luxury retail center Phillips Place, said that Brooks Bros. has moved from its current location in SouthPark Mall, in Charlotte, N.C., and opened a new store in Phillips Place.

The new 8,800-sq.-ft. store is located in the courtyard area of Phillips Place in space previously occupied by Modern Salon.

NEW YORK -- Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported. The chain, which filed Chapter 11 in February, has received several bids other than the opening bid of $290 million from a group of debtholders made in February.

Dish and Icahn have each submitted a bid, The Wall Street Journal reported Friday.

New York City -- Modell’s Sporting Goods announced the opening of the company’s 147th store this past weekend with the grand opening of a new 8,451-sq.-ft. store located in the Interstate Shopping Center in Ramsey, N.J.

By Sandra Gold Slon

Who needs an exit strategy? In this economy, most of us are aware of tenants facing difficulties in meeting their lease obligations. If we weren’t thinking about it front and center, it was brought front and center when Borders declared bankruptcy, closing hundreds of stores.

PITTSBURGH — General Nutrition Centers Thursday evening announced its initial public offering of 22.5 million shares of its Class A common stock at an opening price of $16 per share.

Of the shares offered, 16 million are being issued and sold by GNC and 6.5 million shares are being sold by selling stockholders.

In addition, selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3.4 million shares. That offering is expected to close on April 6.

New York City -- Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported. The chain, which filed Chapter 11 in February, has received several bids other than the opening bid of $290 million from a group of debtholders made in February.

Dish and Icahn have each submitted a bid, The Wall Street Journal reported Friday.

New York City -- Macy’s is undertaking a multi-million dollar remodel of its store in Chicago’s Water Tower Place, the Chicago Tribune reported.

The eight-floor, 227,000-sq.-ft. department store was last renovated in 1996, when it operated as Marshall Field’s. It became Macy’s in 2006.

The new décor will include a white ceramic floor, brighter lights and silver accents, the report said. The store’s first three levels will receive the lion’s share of the updates.

Orlando, Fla. -- Olive Garden plans to remodel or refresh more than half of its 700 plus restaurants across the United States to its new Tuscan farmhouse-inspired design.

Called “Via Tuscany,” the updated décor includes new tables, chairs and booths, a palette of warm, rustic tones and design elements of a farmhouse in Tuscany. Other updates include new window treatments.