REAL ESTATE

Algonquin Commons announces new leases

BY Staff Writer

Algonquin, Ill. — Oak Brook, Ill.-based Inland Real Estate Corp. said Wednesday that Niko’s Lodge has leased the space formerly occupied by Barley House at Algonquin Commons in Algonquin, Ill.

Niko’s Lodge, a wilderness-themed steak and seafood restaurant, will open in the 8,824-sq.-ft. space in late October. This will be the restaurant’s second location.

Algonquin Commons has seen an increase in leasing activity since January. Earlier this summer IRC announced that Ross Dress for Less will open one of its first Illinois stores at Algonquin Commons, along with Shoelace, Sears Outlet and Gourmet Kernel.

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REAL ESTATE

Grosvenor Americas makes executive appointments

BY Staff Writer

Washington, D.C. — Grosvenor Americas said Wednesday it has appointed Jonathan E. Carr to the position of development manager in the company’s Washington, D.C., office. He previously held the same title in Grosvenor Americas’ San Francisco office.

The company also announced that Michael Ward has been appointed to the position of VP in the company’s Calgary office. He previously served as VP for Grosvenor Americas in Washington, D.C.

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Report: Starbucks to triple stores in China by 2015; open 700 outlets in South Korea

BY Staff Writer

New York — Starbucks plans to triple the number of outlets it has in China during the next four years, the Associated Press reported.

The company expects to increase the number of shops in China from 470 now to 1,500 by 2015, Asia-Pacific President Wang Jinlong said on Tuesday.

Starbucks also plans to open 700 shops in South Korea by 2016, up from 370 now, the report said.

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