REAL ESTATE

Pita Grill leases LaGuardia Place shop in Greenwich Village

BY Michael Fickes

New York — Pita Grill has signed a 12-year lease for 2,700-sq. ft. in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets. The space includes 1,350 sq. ft. on the ground floor and 1,350 sq. ft. on the lower level. The quick-service restaurant will be the chain’s ninth location since if first opened a few blocks away at West 4th Street in 1994.

Eastern Consolidated’s new retail leasing division represented both the landlord and the tenant in the transaction.

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REAL ESTATE

JLL names vice chair of New York retail brokerage

BY Michael Fickes

New York — JLL has named Robert Gibson vice chairman of New York retail brokerage. He will be responsible for the growth of retail tenant and agency leasing in New York.

Most recently, vice chairman with Cushman & Wakefield Inc.’s Midtown Manhattan office, Gibson has more than 26 years of retail leasing experience in New York and nationally.

Gibson has represented H&M, Ferragamo USA, Capital One Bank, Burton Snowboard Company, Citibank N.A., Filene’s Basement, Sixty USA, Ricoh Corporation and Verizon Wireless in the New York metropolitan area and Salvatore Ferragamo, Burton Snowboards, Furla, and Trina Turk nationally.

Property owners he has represented include Fisher Development Associates, LLC, Northwestern Mutual Investment Management Company, Alchemy Properties, Jamestown Properties, Digby Management, Colby Capital, and Marx Realty & Improvement Corp.

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REAL ESTATE

Inland acquires Mokena Marketplace in Mokena, Ill.

BY Michael Fickes

Oak Brook, Ill. — Inland Real Estate Corporation has announced the acquisition of Mokena Marketplace in Mokena, Ill., an affluent suburb located within the Chicago metropolitan area for $13.7 million in cash.

The 49,000-sq.-ft. Mokena Marketplace has leased approximately 76% of its space to PetSmart, Party City, Sally Beauty and Lee Nails, plus a free-standing Chase Bank on a ground lease and five developable out parcels. The community shopping center is shadow anchored by J.C. Penney and a new Meijer’s grocery store scheduled to open this summer, which provide outstanding regional drawing power to the center.

Mokena Marketplace is located approximately 30 miles southwest of downtown Chicago in the Mokena/Frankfort/New Lenox regional submarket, along the busy U.S. Route 30 retail corridor. The corridor is home to major national big-box retailers including Kohl’s, Target, Lowe’s, Wal-Mart and Menards among others.

The center’s surrounding population has a strong demographic profile, with average household income of $110,000 and population of 96,400 within a five-mile radius.

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