REAL ESTATE

Forman Mills takes former Kmart in Franklin Park

BY Michael Fickes

Chicago, Ill. — Forman Mills, an off price apparel retailer, has leased 38,487 sq. ft. at Grand Plaza in Franklin Park, Ill., according to CBRE, the leasing agent. The new store plans to open next spring.

The Forman Mills lease completes the lease up of a 96,260-sq.-ft. former Kmart, which closed in 2011.

CBRE began leasing the space in 2012. The first lease was with Big Lots for 29,000 sq. ft. Next came a 29,000-sq.-ft.- lease to Savers Thrift Superstore, which later took another 29,000 sq. ft.

Forman Mills has 29 stores in Philadelphia, New Jersey, Delaware, Maryland, Michigan, New York and Illinois.

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REAL ESTATE

Mattress Warehouse to Falls Church, Va., center

BY Michael Fickes

North Plainfield, N.J. — Mattress Warehouse has leased a 21,404-sq.-ft. space at Crossroads Place in Falls Church, Va., according to Levin Management (www.levinmgt.com), the leasing and management agent for the 336,248-sq.-ft. shopping center. The lease signing brings retail occupancy at the center to 100%. JBG Rosenfeld Retail served as the tenant’s broker in the transaction. Plans call for the new store to open in March.

Anchored by a Giant food store and Burlington Coat Factory, Crossroads Place features a mix of more than 20 regional and national tenants including T.J.Maxx, Advance Auto, HomeGoods, Foot Locker, Office Depot, Cost Plus, Great Clips, CiCi’s Pizza, Quiznos, Starbucks and The Olive Garden.

Located at the intersection of Leesburg Pike and South Jefferson in Falls Church, the Center’s daily traffic count is 60,000 vehicles. The five-mile radius of the trade area houses a residential population of 528,000. Average annual household income is over $116,000.

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REAL ESTATE

Divaris completes two retail leases in Richmond

BY Michael Fickes

Virginia Beach, Va. — Divaris Real Estate has completed two retail leases totaling more than 21,000 sq. ft. in Richmond.

PetSmart renewed its lease for 19,734 sq. ft. at Parch Place at Short Pump, which is leased and managed by Divaris (www.divaris.com). Metro Commercial Real Estate represented the tenant.

Kamayan Restaurant leased 1,577 sq. ft. in the 360 West Shopping Center, which Divaris leases and manages. The Filipino restaurant joins Rite Aid, AutoZone, Dollar General, Subway, Jackson Hewitt and Radio Shack.

Divaris also leased office space at 360 West Shopping Center to two tenants. Life Lessons family Services has taken 1,508 sq. ft. and 1,307 sq. ft., and Insight Investigations and Security Systems will occupy 1,307 sq. ft.

Divaris Real Estate is a member of Realty Resources (http://www.realtyresources.org/), a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.

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