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Retail Signed to Near-Empty Shops at Roosevelt

CHICAGO—McCaffery Interests and Canyon-Johnson Urban Funds, joint owners of the mixed-use Roosevelt Collection project on the South Side, announced Thursday that they have signed nine retail tenants to the 330,000 sq. ft. of retail space.

The deal is significant, as the companies bought the project in June 2011 after it failed to fill open more than a new movie theater in the retail section of the property. Aside from the Shops at Roosevelt Collection, the site also includes 342 fully leased apartments, a new park and approvals for more than 1,100 more residential units.

The announced tenants include H&M, ULTA Beauty, Francesca's Collection, BlackFinn American Grille, Z Gallerie, Fleet Feet Sports, White House Black Market, Republic of Couture and Chica Loca (by Restaurants-America). The tenants should be open by fall 2013, according to a statement by the partnership.

It’s not clear how much retail space is left vacant. When the partnership garnered a $145 million loan to refurbish the property this past May, McCaffery Chairman and CEO said he would not announce tenants until the retail property is at least 75 percent signed. The partnership plans to build another apartment building on the site.

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