NAPERVILLE, IL-H Mart, headquartered in Maspeth, NY, has signed a lease for 55,811 sf at Ogden Mall, located here at 1199-1295 E. Ogden Ave. A Super H Mart will be an anchor tenant at the 272,654-sf shopping center, which is owned by Newcastle Properties LLC, based in Northbrook, IL.

The term of the lease is 20 years, says Katie Hennegan, leasing representative with Mid-America Asset Management Inc. Newcastle Properties was represented in the lease transaction by Hennegan and John Gross with Newcastle Properties.

The Super H Mart will occupy space formerly occupied by Walgreen’s and Dominick’s Finer Foods, which vacated in March. The specialty grocer, which has 22 locations primarily on the East Coast, is expected to open next month, Hennegan says. “We expect it to be a huge draw to the shopping center,” she says.

The mall is currently 86% occupied. Other anchors include K Mart, Citibank and Panera Bread. Tenants include Ogden Theatres, Peter’s Paper & Party Outlet, Ginny’s Hallmark and Pizza Hut. Tong’s Polynesian Village has signed a new five-year lease for 1,800 sf for carry-out food service and is closing its 4,000-sf restaurant location in the mall. Insight Optical has signed a three-year lease for 900 sf. The asking lease rate for the building is between $14 per sf and $22 per sf net, depending on the size of the space, Hennegan says.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 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.

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 © 2024 ALM Global, LLC. All Rights Reserved.