NEW LENOX, IL-Ryan Cos. US landed its third anchor tenant at its 300,000-sf retail center under construction at 2306-2480 E. Lincoln Hwy. Arts and crafts retailer Michaels signed a 21,390-sf lease, joining Target and Lowe’s in the power center on US Route 30, east of Schoolhouse Road.

Although terms were not disclosed, CB Richard Ellis is marketing space at New Lenox Retail Center at $26 per sf. Only 8,400 sf remains on the market at the center, scheduled to open in October 2005. CBRE first vice president Joseph Parrott represented Ryan Cos. US in negotiations with Mid-America Asset Management.

Besides a population base that has more than doubled since 1990, CBRE reports the five-mile trade area that includes the Will County suburbs of New Lenox, Mokena and Frankfort has an average household income of $93,000 a year.

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