REAL ESTATE

SVN Crossroads to manage Hoffman Estates, Ill., center

BY Michael Fickes

Schaumburg, Ill. — Caruso Development has awarded the property management contract for Barrington Square, a 101,500-sq.-ft. retail center in Hoffman Estates, Ill., to SVN Crossroads Management. Situated in high-traffic areas in Chicago’s northwest suburbs, Barrington Square’s tenants include America’s Bar and Grill, GiGi’s Playhouse and Poplar Creek Bowl.

Currently SVN Crossroads manages a portfolio of more than two million sq. ft.

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REAL ESTATE

CBRE: VERTS expands to Dallas and Houston

BY Michael Fickes

Austin, TexasCBRE has announced three more Austin-area locations for local fast casual restaurant VERTS, bringing its store count to 10. In 2014, VERTS plans to open 13 new locations, including expansions into Dallas and Houston.

The newest locations are in North Austin. Locations in Round Rock and Cedar Park will open in the next two months.

In Houston, VERTS has signed leases at Washington Heights, Vintage Marketplace, River Oaks Plaza and Cyfair Town Center, and there are more on the way.

The first Dallas-area location will open at Jellico Square in Southlake.

VERTS is built around Döner Kebap, Germany’s favorite street food, and is one of the first to bring authentic Döner Kebap to the United States. CBRE is the exclusive tenant representative for VERTS throughout Texas.

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Whole Foods opens two stores in Chicago area

BY Michael Fickes

Chicago — Two new Whole Foods Market grocery stores will be coming to Shops on Main and Hinsdale Lake Commons, according to Regency Centers, the owner of both centers.

Currently under construction for opening this spring, the Shops on Main is a 200,000-sq.-ft. community shopping center in Schererville, Ind., which is located 25 miles southeast of downtown Chicago. An additional location benefit is the centers’ strategic location at the intersection of two main arterial roads, U.S. Route 41 and Main Street. Whole Foods Market will be joining other previously announced tenants, including Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse, in a 40,000-sq.-ft. space.

The 178,960-sq.-ft. Hinsdale Lake Commons center is located in Willowbrook, Ill., at the intersection of Robert Kingery Hwy (SR 83) and 63rd Street, approximately 22 miles southwest from Chicago. The center serves a local population of more than 100,000 with 67,000 – plus vehicles per day trafficking the intersection. Whole Foods Market will take over the 69,540-sq.-ft. space vacated by the recently closed Dominick’s Finer Foods. Other tenants in the center include Hallmark, Phillies Pizza Bar & Grill, and LaVida Massage.

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