REAL ESTATE

Food 4 Less to open at Lincoln Crossing

BY CSA STAFF

Chicago Oakbrook Terrace, Ill.-based Mid-America Asset Management said Thursday that Food 4 Less recently signed a lease for 82,126 sq. ft. at Lincoln Crossing in Chicago Heights, a south suburb of Chicago.

Food 4 Less, subleasing a portion of a former Dominick’s space, is expected to open in spring 2011. The price-impact warehouse grocer joins tenants GNC, Check ‘N Go and City Nails.

Food 4 Less, a division of Kroger Co., operates 147 supermarkets in California, Nevada, Illinois and Indiana. The company also operates 15 stores in the Greater Chicago Area from its Midwest Division headquarters in Burbank, Ill.

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REAL ESTATE

Modell’s to open on Upper West Side

BY CSA STAFF

New York City Manhattan-based Robert K. Futterman & Associates said Thursday it has arranged for a long-term, 7,316-sq.-ft. lease for Modell’s Sporting Goods at 350 Amsterdam Ave., between 76th and 77th Streets in Manhattan.

The new store is located at the base of The Harrison, an 18-story, 125-unit luxury residential condominium designed by Robert A.M. Stern. It will be Modell’s first store with its new smaller concept.

Modell’s currently operates 144 stores throughout New York; New Jersey; Pennsylvania; Connecticut; Rhode Island; Massachusetts; New Hampshire; Delaware; Maryland; Virginia; and Washington, DC.

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Jones Lang LaSalle exec named as receiver of Valley View Center

BY CSA STAFF

Dallas Atlanta-based Jones Lang LaSalle Retail said that Rick Vita of JLL has been appointed as receiver of Valley View Center, a 1,635,000-sq.-ft. mall in Dallas.

As the receiver, Vita is responsible for controlling and directing the asset until a resolution between the lender and borrowers is achieved.

Effective immediately, Jones Lang LaSalle said it is responsible for managing the mall and advising on the best course of action for the mall going forward. The mall will remain open for business as usual.

“Our management team is fully engaged in keeping the mall running smoothly,” said Greg Maloney, president and CEO of Jones Lang LaSalle Retail.

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