REAL ESTATE

Mid-America announces four new suburban Chicago leases

BY Michael Fickes

Oakbrook Terrace, Ill. — Mid-America Asset Management Inc. has announced new retail leases in four shopping centers in Chicago’s northwest suburbs.

Big Blue Swim School signed a lease for 10,075 sq. ft. at The Grove in Buffalo Grove, Ill. The School’s second location in the Chicago area, it is expected to open in November. Jewel Osco, Chase and American Mattress anchor the 117,367-sq.-ft. center. Mid-America represented the landlord in the transaction. NGKF represented the tenant.

Charlotte Russe has leased 5,693 sq. ft. at Algonquin Commons in Algonquin, Ill. Plans call for the store to open in April. Mid-America represented the landlord in the transaction. Dick’s Sporting Goods, DSW, Old Navy, PetSmart and Trader Joe’s anchor the 578,825-sq.-ft. lifestyle center. Charlotte Russe represented itself.

Sushi 5th has taken a 2,100-sq.-ft. lease at Arlington Plaza in Arlington Heights, Ill. The restaurant plans to open in May. Burlington Coat Factory, Value City Furniture, Salvation Army and Harvest Fresh Grocery Store anchor the center. Mid-America represented the landlord in the transaction. US Asian Group represented the tenant.

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REAL ESTATE

PizzaRev to expand in St. Louis and Austin

BY Michael Fickes

Los Angeles — A Buffalo Wild Wings Franchisee has signed an agreement to open fast-casual PizzaRev restaurants throughout the St. Louis, Mo., and Austin, Texas, markets.

The PizzaPeel franchise group plans to open four PizzaRevs in Austin and three in St. Louis. The agreement also includes rights to develop both regions further.

PizzaRev franchise locations are already under development in Salt Lake City; Minneapolis; Orange County, Calif.; San Diego; Lincoln, Neb.; Fargo, N.D.; and Sioux Falls, S.D. The company also plans to open at least 10 corporate stores in California to add to the eight PizzaRev restaurants currently operating in the greater Los Angeles region.

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REAL ESTATE

Bayer Properties names VP of business development

BY Michael Fickes

Birmingham, Ala. — Bayer Properties has appointed Brad Bailey VP of business development. With more than 20 years of experience in the commercial real estate and retail industry, Bailey comes to Bayer from The Weitzman Group, where he held the position of senior VP and director of investment sales. His responsibilities there included consulting on acquisitions, dispositions, operations, leasing and financing.

As VP of business development, Bailey will help further Bayer’s efforts to source and secure new business opportunities, while developing new and existing client relations for third-party management assignments, joint-venture partnerships, real estate development projects and consulting engagements.

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