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New tenants head to East Peoria’s Levee District
Peoria, Ill. — Called The Levee District, the 86-acre new downtown going up in East Peoria, Ill., will include 500,000 sq. ft. of retail and restaurant space as well as office, hotel and civic components.
Four new retailers recently inked leases for space in The Levee District.
Construction is well underway on a 10,400-sq.-ft. space next to Gordmans to be occupied by Shoe Dept Encore. The new store plans to open in the spring of 2014.
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Sears to spin off Lands’ End
Hoffman Estates, Ill. — In a not-so-unexpected move, Sears Holdings Corp. on Friday said it had filed to spin off its Lands' End unit.
Sears has been selling or spinning off assets during the past few years as it struggles to turn around its business. The company sold its Orchard Supply Hardware Stores and its Sears Hometown and Outlet Stores businesses last year. In October, Sears said it would consider strategic alternatives for its line of auto centers. Sears also is selling some store leases in Canada.