FARMINGTON HILLS, MI—Kmart, the department store chain owned by Hoffman Estates, Ill.-based Sears Holding Corp., has extended two leases at Midwest retail properties.
The retailer has exercised five-year options at Central Michigan Commons in Mt. Pleasant, Mich. and Capital Plaza in Frankfort, Ky. The Central Michigan Commons store is 80,399 sq. ft. and the Capital Plaza store is 80,192 sq. ft.
Agree Realty Corp., based here, owns the properties. The company says Kmart retains additional options at the tenant's election in both locations. Agree currently owns and operates a portfolio of 113 properties, located in 30 states and containing approximately 3.3 million square feet of gross leasable space.