REAL ESTATE

Wal-Mart to open a superstore on site of former racetrack

BY Katherine Boccaccio

Cicero, Ill. — The town of Cicero, Ill., and Wal-Mart Stores announced an agreement on Tuesday to build a Walmart Supercenter on a portion of a former racetrack site.

Under the contract, Wal-Mart will pay $7.5 million for 24.67 acres of land at the long-vacant and dilapidated Sportsman’s racetrack to construct a 190,000-sq.-ft. store.

Cicero will continue to own 10 acres of the remaining Sportsman’s property, which is reserved for future retail expansion and development.

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REAL ESTATE

Johnny Rockets acquired by Sun Capital

BY Staff Writer

New York — Johnny Rockets has been acquired by an affiliate of private-equity group Sun Capital Partners Inc. Terms of the deal were not disclosed.

Johnny Rockets operates about 300 corporate and franchise-owned hamburger restaurants in 30 states and 16 countries, including 17 Six Flags amusement park locations and 11 Royal Caribbean cruise ships.

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REAL ESTATE

Englewood Construction builds Chicago area’s first Ports 1961

BY Marianne Wilson

Chicago — Englewood Construction announced its retail group has begun work on the Chicago market’s first Ports 1961, a luxury apparel retailer, in Rosemont, Ill.

“Ports 1961 chose to enter the Chicago area by locating within Fashion Outlets of Chicago,” said William Di Santo, president of Lemont, Ill.-based Englewood Construction. “The retail world is anxiously awaiting the August 1 opening of this world-class fashion outlet mall in Rosemont.”
Fashion Outlets of Chicago will be home to more than 120 leading designer and top brand retail stores.

Englewood is building the 2,162-sq.ft. Ports 1961 store, which marks the third Ports 1961 in the United States. Santa Monica, Calif.-based Montalbo Architects Inc. is designing the space. Ports 1961 has a location in New York City, and a store in the new Livermore Premium Outlets, in the East Bay area of San Francisco.

Also within the 530,000-sq.ft. Fashion Outlets of Chicago, Englewood has performed 20,000 square feet of prep work for one of the anchor tenants: Saks Fifth Avenue OFF 5th.

Englewood has also begun two other retail projects: a 1,509-sq.-ft. build out of a Motherhood Maternity store in Huntington Beach, Calif., and a 1,068-sq.-ft. build out of a Marbles – The Brain Store in the Westfield Old Orchard Mall in Skokie, Ill.

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