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Around the Portfolio

2023 is off to a productive start with the signing of new leases, the opening of stores, and the buildout of tenant space occurring across Next Realty’s portfolio of properties. Some highlights include:

  • Roosevelt Plaza—a lease was executed with Aldi Foods for a new, 22,951-square-foot grocery store. Aldi approached Next because of the center’s excellent location and great visibility and will occupy the former XSport space with an estimated opening in late 2023. The ability to lease space to Aldi is a great value-add story for Next. As underscored by performance during the pandemic, grocery-anchored centers have been among the most popular retail property investments.
  • Niles Center—two new retailers will be opening in the near future at Next’s center in Niles. Chill Bubble Tea has leased 1,694 square feet and is expected to be opening in May. Friends Bakery expects to open its 1,440-square-foot store in the Fall.
  • Lincolnshire—Next has welcomed two new tenants and leased two other spaces at its 133,000-square-foot lifestyle center. Stretch Zone, a fitness center, has opened a 1,200-square-foot store and Red Wing Shoes is a 1,478-square-foot shoe store. 3Bs, featuring Asian cuisine, signed a lease for 1,800 square feet and plans to open in May. In the last of the new tenants, Sola Salon Suites has leased 5,697 square feet of space for a salon that rents out spaces to beauty consultants and technicians—stylists, colorists, etc.
  • Merrillville—Urban Air Adventure Park, an entertainment and kids’ activity franchise, has leased more than 28,000 square feet of space for a fun center. A late Summer opening is anticipated.