Chicago

The less than one-acre site at 6747 Collins Ave. was the last undeveloped beachfront lot in North Beach, located between the Deauville Beach Resort and Sterling Condominium buildings.

The Wells-Wentworth Connector is part of the first phase of development at The 78, which is bordered by Roosevelt Road, Clark Street, 15th Street and the Chicago River. The 78 could at full build-out include a total of 13 million square feet of mixed-use space.

The REIT plans to use proceeds from the nine centers to advance strategy of acquiring shopping centers located in the top-50 MSAs.

The company states that it signed a 10-year lease for its new headquarters space at the 2.5-million-square-foot complex and will invest more than $200 million annually in the region through headcount, real estate investment and other expenses

The Southern Park Mall, which is adjacent to DeBartolo Commons, is also undergoing some improvements that will include a new entertainment hub that will feature a 37,000-square-foot indoor golf entertainment center, additional entertainment uses and new food and beverage offerings.

The seven new spec buildings were delivered 78% vacant, adding 2.6 million square feet of new vacant space to the big box market.