We were surprised to see this article in a Chicago-area newspaper about a lifestyle center coming along in the suburb Mt. Prospect. Casto Lifestyle Properties' $190-million Randhurst Village is apparently on target for an opening in the spring of 2011.It sounds like many of the anchor tenants are in place, like AMC Theatres, Sports Authority and a Hampton Suites hotel, but Casto is still looking for some smaller stores to sign.We've heard that lifestyle centers are, and will be for quite some time, the hardest-hit asset type in the retail sector because of overbuilding in areas that couldn't support them. But maybe it depends on the location? Mt. Prospect is certainly in a densely populated area in Chicago's Northwest suburbs.Do you think this property type can survive, or were these centers way too overbuilt?
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