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LOMBARD, IL-Hobby Lobby has signed a lease for 60,000 sf, nearly half of the 126,286-sf Roosevelt Plaza, 255 Roosevelt Rd. The term of the lease is at least 10 years, says Mark Blum, COO with Northbrook-based Next Realty LLC, which owns the retail center.

Hobby Lobby will occupy space vacated by Sports Authority and Famous Footwear. The arts and crafts retail chain is currently at nearby Pines Mall and will move into Roosevelt Plaza in February.

David Leathers, with DE Johnson, represented Hobby Lobby in the lease transaction. Tracey Harnisch, director of leasing for Next Realty, represented building ownership in the transaction. The location in Roosevelt Plaza will give Hobby Lobby a “street presence” on Roosevelt Road and pylon signage, Blum says.

Fruitful Yield, which has been a tenant at the retail center since 1997, is also expanding by 10,000 sf, which is more than 50% of its current space. The original lease was for 10 years and the new lease is for a period of at least 10 years, Blum says. The health food store will move into the expanded area in February. Irv Gilner, with Transwestern, represented Fruitful Yield in the lease transaction. Harnisch represented Next Realty.

Other new tenants include Harbor Freight Tools, which will lease 15,000 sf, and Roundhead’s Pizza Parlor, which is leasing 6,000 sf. Both leases are for terms of at least 10 years, he says. The retail center is 91% leased. The asking lease rate is $11 per sf triple net, Blum says. Next Realty will start a facade renovation at Roosevelt Plaza in the spring and will spend money “updating and modernizing the pylon sign,” he says.

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