Mid-America brokers three new Chicagoland leases
Oakbrook Terrace, Ill. — Mid-America Asset Management has announced three new retail leases in Chicago’s northwestern suburbs. Mid-America represented the landlord in each transaction.
Charles Schwab signed a lease for 4,339 sq. ft. at Shops of Uptown in Park Ridge, a northwestern suburb of Chicago. The store is expected to open next spring. The 70,800-sq.-ft. center features Trader Joe’s, Houlihan’s and Jason’s Deli. Colliers International represented the tenant.
Heroic Fitness signed a lease for 4,156 sq. ft. at Poplar Creek Crossing in Hoffman Estates, a northwestern suburb of Chicago. TJ Maxx, Michaels, World Market and Target anchor the 400,000-sq.-ft. center. Prism Corporate Realty Inc. represented the tenant.
Kay Jewelers signed a 2,000-sq.-ft. lease at Oakridge Court in Algonquin, a northwestern suburb of Chicago. The store is expected to open early next year. J.C. Penney, Toys “R” Us, Babies “R” Us, Dollar Tree, TJ Maxx, Binny’s and Five Below anchor the 289,178-sq.-ft. center. Baum Realty represented the tenant.
Royal Properties inks three Orange County, N.Y., deals
New York — Royal Properties has announced three lease signings in Orange County, N.Y. — two with Miracle Ear and one with Tiger Schulmann’s Mixed Martial Arts.
Miracle Ear has signed a seven-year lease with a five-year option for 1,500 sq. ft. at Wallkill Plaza in Middletown. Royal Properties and Rand Commercial Services were the brokers in the transaction. Wallkill’s co-tenants include Big Lots, Ashley Furniture, Hobby Lobby, Papa John’s, Texas Roadhouse and Boston Market.
Miracle Ear also signed a seven-year lease with a seven-year option for 730 sq. ft. at the Big V Town Centre located in Vails Gate. Royal Properties represented the landlord and Rand Commercial Services represented Miracle Ear.
Tiger Schulmann’s Mixed Martial Arts signed a 15-year lease for 2,616 sq. ft. at the Big V Town Centre. Royal Properties represented the landlord and J.W. Burke & Co. represented the tenant.
Big V co-tenants include Shop Rite, Kmart, Sleepy’s, Key Bank, Burger King, Goodwill and Mavis Tires.
Supervalu continues to focus on driving sales
Supervalu’s renewed focus on driving sales and cash in all segments of its business seem to be paying off. The company has been working toward turning identical sales positive and posted net sales of $3.95 billion for the second quarter ended Sept. 7, up 0.2% from $3.94 billion for the prior-year quarter.
“Similar to what we outlined in the first quarter, we remain focused on delivering steady improvements in our business each and every quarter,” said president and CEO Sam Duncan. “While our end goal won’t be achieved overnight, I am encouraged with our results this quarter and, more importantly, the way we are achieving these results by building a strong foundation that is focused on our customers.”
Identical store sales in the Save-A-Lot network were negative 0.3%. Identical store sales for corporate stores within the Save-A-Lot network were positive 4.6%. Identical store sales in the retail food segment were negative 0.9%.
On Jan. 10, the company announced it had reached a definitive agreement for the sale of five retail grocery banners — Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market. This transaction was completed on March 21.