X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NORTH RIVERSIDE, IL-More than a year after being sold for $108 million, then undergoing a major renovation, the 1.1-million-sf North Riverside Park Mall here is getting more scrutiny. New York City-based Feil Organization has hired Berns & Associates LLC to analyze the tenant mix at the shopping center on Cermak Road west of Harlem Avenue.

Anchored by J.C. Penney, Carson Pirie Scott, Sears and Steve & Barry’s, the center also includes 140 retailers including Old Navy, The Gap, Baby Gap, Gap Kids, Victoria¹s Secret, and an 11-unit food court. Although occupancy stands at 95%, the tenant roster could use some tweaking, says Tom Castagnoli, general manager at the property since 1997. “There’s probably 7% to 8% of the mix that isn’t on long-term leases,” Castagnoli tells GlobeSt.com, adding the center may have two many specialty stores in the cell phone, jewelry and gym shoe arenas.

A former executive vice president with Pennsylvania Real Estate Investment Trust, Pat Berns also will analyze whether the center needs additional upgrades. While Feil Organization has appointed Rob Ebel as leasing agent, it also retained Castagnoli, who ran the shopping center for former owner Urban Retail Properties. Ebel previously was involved in leasing and property management with General Growth Properties and Feldman Properties.

Discount collegiate sportswear retailer Steve & Barry’s has been a welcome addition, Castognoli notes. “That’s a great tenant,” he says of the store that replaced TJ Maxx.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.