Champps fans, never fear—AmREIT has executed a lease amendment that’ll keep it in Uptown Park. Champp’s parent company filed for bankruptcy at the end of the year and sold to junior lenders led by Cerberus Business Finance on Feb. 28. The lease restructuring means not only that Champps will continue to operate, but it also helps AmREIT accelerate its redevelopment plans for the 17-acre Uptown Park. AmREIT will have increased control of adjoining parking areas and reduces the remaining term from five years to two years, allowing the firms to assess options for downsizing and/or relocating within the center.
| “ | The lease restructuring means not only that Champps will continue to operate, but it also helps AmREIT accelerate its redevelopment plans for the 17-acre Uptown Park. | ” |
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