We rounded out our second quarter leasing activity with a 76,400-square-foot commitment by Old Time Pottery. The rapidly expanding national home décor retailer will open a new location in our Mark Twain Village shopping center in St. Charles.
The transaction – representing the largest lease (by square feet) in the national retail investment our seven-year history – bolstered a record-breaking six months in leasing volume. To date in 2022, we have closed 49 new lease transactions totaling over 255,000 square feet. David Roth, our Vice President of Leasing – southeast, negotiated the Old Time Pottery lease, representing the 300,000-square-foot shopping center. Steven Bodner of SRS represented the tenant in the transaction.
We have built our acquisition strategy on the durability of grocery-anchored essential retail assets, which are able to weather economic changes more than almost any other asset class. The flurry of first-half leasing activity – which filled over 25% of the vacancy in our portfolio – not only reflects its own growth, but it provides a snapshot of the overall health of the firm’s target market.
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