Pottery Barn Signs 15,000 SF Lease At Westfield Old Orchard In Skokie
4905 Old Orchard Ctr
Building Size
15,000 SF
Asset Type
Retail
Closing
Dec 19, 2023
AI
Pottery Barn has signed a lease for a 15,000-square-foot retail space at Westfield Old Orchard in Skokie, near Chicago. The space was previously occupied by Lord & Taylor and is part of a redevelopment plan that includes new residential space, restaurants, and wellness facilities. The opening of Pottery Barn is scheduled for summer 2024.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 4905 Old Orchard Ctr, Skokie
- Market: Skokie
- Asset Size: 15,000 SF
- Tenant: Pottery Barn
- Tenant's Representative: Marta Benson
This lease agreement adds Pottery Barn to the roster of retailers in the 115,000-square-foot space at Westfield Old Orchard. Marta Benson, representing Pottery Barn, played a key role in securing the lease at this prime location near Chicago.
Players
Skokie Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93