July 26, 2019
Fast-fashion retailer Reformation will open its first Chicago store in Acadia Realty Trust’s Gold Coast portfolio, Crain’s Chicago Business reported. The 8,900-square-foot location at 56 E. Walton St. was formerly occupied by snowboard maker Burton.
Reformation’s lease will fill the last remaining vacancy in Acadia’s Gold Coast portfolio, a collection of five retail properties totaling 32,500 square feet, Crain’s reported. The properties include storefronts at the corner of Rush and Walton streets leased to tenants including Lululemon Athletica, Marc Jacobs and Saint Laurent.
“The intersection of Rush and Walton has really become a very attractive location for retailers that are looking in Chicago,” said Chris Conlon, EVP and COO for the Rye, NY-based REIT. One reason is that rents at the intersection tend to be lower than on nearby Oak Street, reported Crain’s.
Acadia owns nearly 700,000 square feet in Chicago, comprising nearly half its street and urban retail portfolio.
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