CRE Midwest

Lee & Associates negotiates four leases for Red Robin for $8.9 million

Red-Robin

Rick Scardino, director of retail brokerage of Lee & Associates of Illinois LLC, represented Red Robin in four new leases in Illinois, two in Northern Illinois and two in Central Illinois.

Rick Scardino, director of retail brokerage of Lee & Associates of Illinois LLC, represented Red Robin in four new leases in Illinois, two in Northern Illinois and two in Central Illinois.

The first lease is a 5,710-square-foot space located in the Harlem and Irving Plaza in Norridge.  The second lease is a 5,901-square-foot space located in Oakbrook Center Mall in Oakbrook.  Fred Murray of Harlem Irving Cos. represented building ownership in the Norridge transaction and Randy Guse, formerly of General Growth Properties, represented building ownership in the Oakbrook transaction.

Scardino also represented Red Robin in two new leases in Central Illinois. The first lease is a 4,001-square-foot building located at W. Washington Street and Altorfer Lane in East Peoria. The second lease is a 5,735-square-foot building located at 2881 S. Veterans Parkway in Springfield. Kathleen Cullinan of Cullinan Properties represented ownership in the East Peoria transaction and Mike Liyeos of Quattro Development represented building ownership in the Springfield transaction.

“We’re continuing to see strong demand in the best Chicago metro markets with vacancy dwindling and more tenants chasing less existing options,” Scardino said.