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Block 37 Watch

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LA-based CIM Group, owner of Block 37, is nearing leases with a "quartet of tenants" that include an AMC Theater and gym, reports Crain's. The focus is on landing an anchor or two for the totally-vacant 4th floor at the derelict downtown mall. Despite sitting atop the CTA and across State Street from Macy's, Block 37 has been in a tragic spiral since opening in 2009 under looming foreclosure and is currently clinging to a 36% occupancy rate. A major movie complex would be a perfect catalyst for upper floor leasing, and there's also the prospect of signing a 3rd-floor food court operator and ground floor restaurant linked to The Gage. If you buy into recent Loop retail trends, Block 37 might finally have "some wind at its back". In the meantime, enjoy the pop-up art. [Crain's, previously]