Spa di da became the latest tenant to leave Metropolitan Square, the retail development in downtown Des Plaines, at the end of January. The retail spaces have been predominantly vacant since the multi-use development was completed in 2006; some spaces have never been occupied.
Prior to Spa di da’s closure, the tenant next door, World Gym, shut down in November 2012. Before that, Flower Art Studio left the center in April 2012, and Cheeseburger in Paradise closed its doors in March 2011.
An owner of Spa di da, 1473 Market St., declined to comment for this story.
A voicemail message for Spa di da stated the business was temporarily located at Phenix Salon Suites, and the corresponding address is listed on Spa di da’s website, 91 Randhurst Village Drive in Mount Prospect.
A representative of Phenix Salon Suites declined to comment for this story.
Matt Kurucz, asset manager for World Class Capital Group, the Austin, Texas-based investment company that owns Metropolitan Square, said they agreed to a mutual termination of the lease with Spa di da, which ended on Jan. 31.
Kurucz said they agreed to terminate the lease with Spa di da, in part, to make room for a new tenant to take over the space.
While final details have not yet been finalized, Kurucz said plans were being made for a new gym to move into the spaces formerly occupied by Spa di da, World Gym and Coldstone Creamery.
“We agreed to let them out of their lease in order to make room for a new gym,” Kurucz said.
Click here for more information about the plans for a new gym to open in Des Plaines.
Metropolitan Square underwent foreclosure, whereby World Class Capital Group took ownership.
In the past, many tenants in Metropolitan Square cited inflated rent costs as a primary reason for closing their doors. Now that the development has gone through the foreclosure process, Kurucz said, rents for current and prospective tenants have been reduced.
“Rent has been reset to market,” Kurucz said.
Current tenants recently renewed their leases in Metropolitan Square, he added.