Younkers signs Westdale lease extension

CEDAR RAPIDS - Younkers has signed a lease extension for its 100,000-square-foot anchor store at Westdale, which is expected to help speed up deals for additional tenants at the retail center.

Younkers, which has been an anchor tenant since Westdale opened in 1979, is owned by Bon-Ton Stores Inc.

'Customers can look forward to some exciting interior upgrades at Younkers that will take place over the next six months, providing an updated store environment for shoppers,” said Steve Byers, Bon-Ton executive vice president of stores, in a news release. 'Younkers has enjoyed serving customers in this community for over three decades and looks forward to continuing as a premier anchor store at Westdale.”

Lisa Rowe, vice president, retail and Westdale general manager, said the signing of the Younkers lease extension will help with the overall $90 million redevelopment of Westdale.

'With our existing anchor tenants secured, we will move several junior anchor and specialty retailer deals to completion very soon,” Rowe said. 'It gives the retailers we are talking to the comfort of knowing they have long-term anchor tenants in the development.

'I hope to have a 40,000-square-foot retailer announced within days. I have a news release ready to go and we have a signed letter of intent for a junior retailer in the former Von Maur building.”

J.C. Penney also signed an extension of its lease as an anchor tenant at Westdale. The retailer recently completed a $3.5 million extensive interior and exterior remodeling project.

Rowe said the reconfiguration of Westdale's infrastructure is in its final phases and most of the common area spaces and roadways are scheduled for completion this summer. She said the community will see significant changes to the $90 million Westdale redevelopment by the fall.

'There will be some proposed site plan changes, just as there have always been,” Rowe said. 'We listen to retailers and take into account what they say they are going to need to be successful and part of our development.

'In order for our development to be successful, we need to meet the needs of retailers.”