Flagler and AMB Property Corp. appointed Continental Real Estate Cos. (CREC) as the exclusive leasing and marketing agent for the Shops at Beacon Lakes, a 45-acre retail development in Miami-Dade County, Fla. Flagler and AMB Property Corp. are developing the Shops at Beacon Lakes through a joint venture. The center will be located at the intersection of the Florida Turnpike and the Dolphin Expressway and will be the first major new retail project in the West Miami-Dade sub-market in more than two years.
â€śThe Shops at Beacon Lakes offers major national retailers an opportunity to locate in an easily-accessible, build-to-suit location proximate to a large population base,â€ť said Sabrina Meerbott, senior vice president of CREC, in a statement. â€śFuture tenants can commit with confidence knowing this project is backed by two well-capitalized, well respected real estate developers who have depth of knowledge and years of experience.â€ť
When completed, the Shops at Beacon Lakes will include up to 470,000 square feet of retail space. The center will be part of a 6-million-square-foot master-planned business park being developed by Flagler and AMB.
CBL Starts Second Phase of Settlers Ridge
CBL & Associates Properties Inc. started construction on the second phase of Settlers Ridge, a 500,000-square-foot open-air retail center in Robinson Township, Pa. The 78,000-square-foot expansion will feature anchors Ross Dress for Less and Michaels, in addition to a junior anchor store and 18,000 square feet of in-line retailers and restaurants. Opening is scheduled for the spring of 2011.
Simon to Build Outlet Center in Malaysia
The Genting Group and Simon Property Group broke ground for Johor Premium Outlets, a $47 million, 330,000-square-foot outlet shopping center in Johor, Malaysia. The ceremony marked the start of construction for Phase I of the project, which will include 175,000 square feet of upscale outlet space.
Johor Premium Outlets will be located at the intersection of the North-South Expressway and the Second Link Expressway and have easy accessibility for all traffic going to and from Johor and Singapore. It will also be a short drive away from Senai International Airport.
The grand opening for the center is scheduled for the second half of 2011. Genting and Simon will be joint venture partners in the development, on a 50/50 basis.
Other Notable Announcements
Robin DeLotell launched Robin DeLotell & Associates (RDA). Based in Corona Del Mar, Calif., RDA will offer services including strategic positioning, marketing plan development and implementation, alliance formation and company diversification and expansion. DeLotell has 25 years of experience in real estate business development and marketing.
Macerich continues to open new stores at the redeveloped Santa Monica Place, the 524,000-square-foot open-air center in Santa Monica, Calif. On Aug. 27, Nordstrom will open its doors, followed by Tory Burch and Tiffany & Co. in September. The property is currently 92 percent leased and has secured commitments for up to 97 percent of its GLA.
Marcus & Millichap Real Estate Investment Services appointed Brandon Michaels, Dean Zang, Jason S. Vitorino and Philip J. Levy as vice presidents of investments.
NAI Hunneman promoted Evan Gallagher to vice president and Bonny Doorakian, Brendan Daly and Michael McCarthy to assistant vice presidents.
Winick Realty Group LLC promoted Steven E. Baker to president. He is already a partner at the firm.
Jones Lang LaSalle hired Steve Yenser as executive vice president and director of open-air properties in its retail division. Based in Atlanta, Yenser will be responsible for growing the firmâ€™s open-air and lifestyle practice.
Meridian Capital Group LLC hired Robert Beni, Jr. as vice president in its commercial originations group. Beni will be based in Meridianâ€™s New York City office.
Centro Properties Group promoted Matthew Berger to vice president of leasing for the West region and David Gerstenhaber to director of national accounts.