Next Realty Completes Suburban Leases Totaling Nearly 63,000 Square Feet;
Activity Underscores Strengthening Retail Marketplace
NORTHBROOK, IL (May 4, 2015)—Next Realty LLC has completed lease transactions—new leases and extensions—totaling 62,779 square feet of space at retail centers it owns and manages in Lombard, Schaumburg, Lincolnshire and Oak Lawn.
· In largest of the transactions, The Sports Authority has completed a lease extension of the 42,206-square-foot space it occupies at Sports Authority Plaza, 1015 E. Golf Rd. in Schaumburg. An affiliate of Next Realty has owned the center, located next to Woodfield Commons and just west of Woodfield Shopping Center, since 1978. In addition to The Sports Authority, the other tenant of the center is GFS Marketplace.
· At Hobby Lobby Plaza in Lombard, Harbor Freight Tools USA, Inc., whose tagline is “quality tools at discount prices”, has completed a lease renewal for 14,958 square feet of space. The 124,786-square-foot center is located at 225 W. Roosevelt Rd. The center, which an affiliate of Next Realty has owned and managed since 1993, is leased to additional tenants that include Hobby Lobby, X-Sport Fitness, Dollar General and Starbucks.
· Next Realty also has completed leases at Lincolnshire Commons the lifestyle center in Lincolnshire that it acquired last Fall. Menchies Frozen Yogurt, quick serve specialty restaurant, has leased 1,559 square feet of space within the center. ATI, which provides physical therapy services, has also leased 2,776 square feet. Lincolnshire Commons totals almost 130,000 square feet of space; it is located at the northwest quadrant of Milwaukee Avenue and Aptakisic Road.The modern center features a mix of upscale restaurants, fast casual dining, fashion shops and convenience-oriented retail. The largest tenants in the center are Barnes & Noble, DSW Shoe Warehouse, Cheesecake Factory, Fleming’s Prime Steakhouse, Kona Sushi, and Talbots.
· In the final transaction, Fantastic Sams, part of the national hair salon franchise, has completed a lease extension for 1,280 square feet of space at Oak Lawn Promenade. The 32,690-square-foot center is located at 6352 W. 95th Street in Oak Lawn, across the street from Chicago Ridge Mall. Additional tenants of the center include Vitamin Shoppe, Sleepy’s, Payless Shoes and Subway. Since an affiliate acquired the property in 2012, Next Realty has completed a modernization and revitalization of the center to enhance its positioning in the marketplace.
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