"Our Kildeer project is fully leased with tenant openings scheduled for the fall of this year," executive vice president Daniel B. Hurwitz said in a recent earnings conference call. "Major tenants expected to open include Bed Bath & Beyond, Circuit City, Cost Plus, Old Navy and Ulta 3."

While the 506,000-sf Deer Park Town Center exemplifies the lifestyle center trend, smaller community centers such as Shops at Kildeer are enjoying a renaissance of sorts.

"Tenants today, because there are no new super-regional malls being built in the country today, are looking wherever they can in order to do business," CEO and chairman Scott Wolstein said in the same conference call. "What I would've considered the historical snobbery of saying, 'I want to be in a mall of one million sf that does sales of X,' has gone by the wayside. Tenants are a lot less interested in their neighboring tenants than they are in doing volume."