Developers Diversified Realty appointed David Oakes as executive vice president of finance and chief investment officer. Previously, Oakes served as senior vice president and portfolio manager with Cohen & Steers Capital Management.
Vista Equities Group and Amstar Group held a grand opening for Phase I of LaCenterra at Cinco Ranch, a lifestyle center in Katy, Texas. Phase I of the project contains 170,000 square feet of retail space and 90,000 square feet of class A office space. Phase II, scheduled to include 160,000 square feet of additional retail space and 250 residential units, will be completed in fall 2008.
Glimcher Ventures Southwest, LLC will develop Shoppes at Surprise Pointe, a $75 million, mixed-use lifestyle and entertainment center in Surprise, Ariz. When completed, the property will feature more than 250,000 square feet of retail and restaurant space and a 2,800-seat, 14-screen UltraStar Cinemas theater. Ground-breaking is scheduled for May 2007, with completion of the first phase expected in March 2008.
Brodyco, Inc. will redevelop 11 Galleria, formerly Carolina East Mall, in Greenville, N.C. The property will be redesigned into an open-air lifestyle environment with a pedestrian-friendly, garden-like setting. Brodyco also plans to add up to 300,000 square feet of new retail space to the center. Construction is expected to take three to five years.
A joint venture of Post Properties, Inc. and Lincoln Harris will develop Wade, a mixed-use development in Raleigh, N.C. When completed, the project will feature 150,000 square feet of retail space, 500,000 square feet of class A office space and 1,500 residential units.
Meridian Capital Group appointed Alan H. Fishman as chairman. Previously, Fishman served as president and COO of Sovereign Bank. He will be replacing Howard J. Zuckerman, who will become vice chairman.
The management of Mockingbird Station, a mixed-use development in Dallas, Texas, held a ground-breaking for Phase III of the project, which will add 23,000 square feet of retail and restaurant space to the property. Mockingbird Station currently features 175,000 square feet of retail space, an eight-screen independent movie theater, 150,000 square feet of office space and 211 loft-style apartments. Completion of Phase III is scheduled for early 2008.
CVX Properties appointed Terry Bortnick as president. Bortnick has 19 years of experience in commercial real estate. Prior to joining CVX, he served as president and managing director of REZA Investment Group, Inc.
Kornwasser Shopping Center Properties, LLC started construction on South Mountain Pavilion, a $40 million, 322,000-square-foot power center in Phoenix, Ariz. Completion is scheduled for the fall of 2007.
KTGY Group, Inc. completed final designs for the retail, entertainment, office and residential portions of Pacific City, a mixed-use development in Huntington Beach, Calif. When completed, Pacific City will feature 161,000 square feet of retail and restaurant space and 30,000 square feet of office space, as well as 516 upscale residences. The property will also include an independently designed boutique hotel.
Robert B. Aikens & Associates, LLC hired David C. Bonten as CFO. Previously, Bonten served as director of internal audits with Origen Financial, a national real estate lender.
THF Realty and Maly Commercial Realty opened Grindstone Plaza, a 480,000-square-foot shopping center in Columbia, Mo. The center is valued at $27 million.
Developers Diversified Realty will redevelop Newnan Crossing, a 426,730-square-foot power center in Newnan, Ga. The $500,000 makeover will include redesign of the center's steel poles to resemble columns, the addition of decorative brick storefronts and enhanced lighting throughout the property.
Aries Capital hired Jeffrey G. Bucaro as vice president in the firm'soffice. In his new position, Bucaro will be responsible for business development and structure finance for commercial real estate transactions ranging between $2 million and $100 million. He has 18 years of experience in the banking/finance industry.
Caruso Affiliated received unanimous approval from the Arcadia City Council for the development of the Shops at Santa Anita, an outdoor shopping center in Arcadia, Calif. The project is scheduled for completion in 2009 and will include a community performing arts theater, in addition to shops and restaurants.
The Bond Companies appointed Brad Simon as COO and general counsel. In his new role, Simon will be responsible for the company's daily operations and the coordination of its legal affairs. Prior to joining the Bond Companies, Simon served as senior vice president and general counsel with RBC Mortgage Company.
Stanbery Development held a grand opening for the Shoppes at Old Bridge, a 125,000-square-foot lifestyle center in Old Bridge, N.J.
Agree Realty Corp. will develop a retail property in Macomb Township, Mich. The company has already secured commitments from a chain drugstore and a bank branch to occupy Phase I of the project.
Sudberry Properties promoted Hang Do to the position of controller. Do has 15 years of experience in the accounting industry. She has been with Sudberry since 2004.
Hill Partners, Inc. hired Christopher Sheppard and Emily Wooten as retail leasing associates and William A. Rooney as retail leasing manager. Prior to joining Hill Partners, Sheppard served as a principal broker with Sperry Van Ness/Lighthouse Commercial Realty. Wooten was a leasing specialist with Madison Retail Group and Rooney served as director of leasing with Shield Properties.
Midland Atlantic began construction on the Belton Marketplace, a $12 million, 58,000-square-foot retail project in Belton, Mo. The development is 60 percent pre-leased.
Bayer Properties, LLC appointed Ben Cooper as director of human resources. Previously, Cooper served as director of corporate human resources for Saks, Inc. He has more than 11 years of experience.
Roosevelt China Investments Corp. appointed Callison LLC as the interior designer for its retail destination on Shanghai's Bund. The project will include leading fashion and lifestyle retailers and a Saks Fifth Avenue flagship store.
CB Richard Ellis Group, Inc. hired Mike Neal as senior vice president of retail services, Stephanie Lipp as vice president, Katie Surette as director of geographic information systems and Rusty Kigelman as financial and market research analyst. Mike Neal has 27 years of experience in commercial real estate and recently served as president of Summit Commercial Real Estate LLC.
Regency Centers appointed Jim Sutphen as vice president of construction for the Midwest. Previously, Sutphen served as vice president of construction with Joseph Freed and Associates.
Jeffrey R. Anderson Real Estate and Duke Realty held a ribbon-cutting for the Shoppes at Montage, a 300,000-square-foot lifestyle center located between Scranton and Wilkes-Barre, Pa.
The Retail Connection, L.P. promoted John Doubleday (pictured left) to vice president ofand Jeremy Zidell to assistant vice president of brokerage.
The Desco Group opened the first stores at its $22 million, 289,000-square-foot shopping center in Sterling Heights, Mich. Completion is scheduled for May 2007.
Saks Inc. appointed Kevin G. Wills as executive vice president and CFO, effective May 4. Wills currently serves as executive vice president of finance and chief accounting officer with the company. He has been with Saks Inc. since 1997.
Wendy's International, Inc. appointed Jay Fitzsimmons as executive vice president and CFO. Prior to joining Wendy's, Fitzsimmons served as senior vice president and treasurer with Wal-Mart Stores, Inc.
Helen Robson Walton, the widow of Wal-Mart Stores, Inc. founder Sam Walton, died on Apr. 19 of natural causes. She was 87 years old.