May 11, 2021 10:00 AM
Newmark announces three new retail leases totaling 12,000 square feet at Renaissance Place in Highland Park, Illinois. The leases include a new 6,200-square-foot lease to the Summer Inn; a new, 4,847-square-foot lease to Compass Real Estate and a new, 1,008-square-foot lease to RealGood Stuff Co. Newmark Senior Managing Director James Schutter and Managing Director Larry Kling represent the landlord, Tabani Group, in property leasing.
“The leasing momentum at Renaissance Place is indicative of the continuing strength and resiliency of mixed-use product and the value of live-work-play environments throughout COVID-19, particularly in the Chicagoland area,” said James. “The quality of the asset and the desirability of the area continues to be incredibly attractive to retail tenants and consumers.”
Renaissance Park is a luxury, mixed-use property featuring 30 residential apartments, three-levels of office space and ample parking of 519 spaces. Existing tenants at Renaissance Place include Pottery Barn, Starbucks and more. Adjacent to Renaissance Place is the former Saks Fifth Avenue building, for which redevelopment plans were recently approved by the Highland Park City Council. The new multifamily asset–being developed by Albion, which already has a 150-unit property across the street–features 90 units and commercial components and is expected to open in 2023.
The Summer Inn–a highly anticipated restaurant concept–is under construction and scheduled for a summer opening; the restaurant will feature indoor dining with a three-season, heated outdoor patio. Compass Real Estate will be occupying its space later this year. RealGood Stuff Co.–a juice and smoothie concept that has received press mentions everywhere from Eater Magazine to Forbes–will also be opening this summer.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.
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