STRUCTURED LEASES SPACE FOR NEW RETAIL DEVELOPMENT ON CHICAGO'S NORTH SIDE

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CHICAGO — Chicago-based Structured Development has signed leases with PetSmart and buybuyBaby to occupy 45,000 square feet at 1415 N. Kingsbury St., a 2.3-acre retail development that will break ground early this year in Chicago. The Kingsbury Center project will also include an additional 8,500 square feet of retail space for lease. Structured Development moved forward with the project after its partner, Commonfund of Wilton, Conn., withdrew from the LLC. Structured paid off the existing PNC loan through a refinancing provided by The Private Bank in the amount of $14 million.

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