(For more retail coverage, click GlobeSt.com/RETAIL.)
WHEATON, IL-Three spa-related retailers have taken an aggregate of 8,258 sf in the 251,000-sf Rice Lake Square, while Optical Expressions has renewed its lease for 2,673 sf at the center for another 10 years. The four agreements take occupancy in the center to 95%, according to Marget Arthur, senior leasing representative at Oakbrook Terrace-based Mid-America Asset Management Inc. She represented the owner, London-based Grosvenor in all four negotiations.
Reliance Medspa, a franchise based in Scottsdale, AZ, will open its first Illinois location in 2,355 sf at the center this fall. The company provides non-surgical skin care procedures, such as laser hair removal, dermabrasion, facials and Botox treatments. Mike Leonard of MAS Commercial Real Estate represented this tenant in the lease negotiation.
Massage Envy, also a Scottsdale based franchise firm, will occupy 2,903 sf beginning this month. This will be the company's second location in this area. The other is on Clybourn Avenue in Downtown Chicago. Peter Scannell of Mid-America, represented the tenant.
Sanctuary Day Spa, an independent full-service salon and spa, has signed a lease for 3,000 sf. It will open this fall. Tom Zumm of TBS Development Services spoke on this tenant's behalf. Optical Expressions, an independent optical store, has been at Rice Lake Square since 1996. Citing confidentiality agreements, Arthur declined to disclose the rental rates.
Rice Lake Square is located east of the northeast corner of Butterfield and Naperville roads. Its anchor tenants are Whole Foods, Linens 'n Things, Stein Mart, Borders Books & Music and PetSmart.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
