Inland Real Estate Corporation today announced that it has signed leases with Office Depot at two Chicagoland shopping centers, Rivertree Court in Vernon Hills and Ravinia Plaza in Orland Park. The new leases are the result of proactive moves to rightsize existing Office Depot locations into a new, smaller store format and will create opportunities for Inland Real Estate Corporation to bring additional national tenants to the area.
“We are pleased we were able to work with Office Depot to help them launch their new store format, which they are aggressively pursuing in the Chicagoland market,” said Mike Fitzgerald, vice president and director of leasing for Inland Real Estate Corporation. “These new stores will strengthen Office Depot’s presence in our centers while allowing us the flexibility to use the additional square footage to attract new junior anchor tenants to our very desirable infill locations.”
The Office Depot at Rivertree Court is relocating from within the shopping center. The new store will be 6,155 square feet and is expected to open in the first quarter of 2013. The retailer is also moving to Ravinia Plaza from Orland Park Place, also owned and managed by Inland Real Estate Corporation, and the new location will be 7,040 square feet.
Rivertree Court is located at 701 N. Milwaukee Ave. in a high-traffic retail shopping area in Vernon Hills. Tenants at the approximately 310,000-square-foot center include T.J. Maxx, Gordmans, Michaels and Best Buy. Ravinia Plaza is located in the heart of Orland Park’s bustling retail market. It totals approximately 102,000 square feet, and tenants include Whole Foods, Pier 1 Imports, Chipotle and Panera Bread.
—Inland Real Estate Corporation submitted this information.