Passco Real Estate bought the 113,495 square foot Kaua'i Village Shopping Center in Hawaii from Kaua'i Village Associates for $26.9 million. The center is located in Kapaa, on the island of Kaua'i, and anchored by Safeway and Longs Drugs. It was originally built in 1990.
Retail owner and manager Phillips Edison & Co. acquired eight new community shopping centers adding nearly 750,000 square feet to its portfolio. The company purchased six properties from Edens & Avant. Anchored by Food Lion and BiLo supermarkets; two centers are in North Carolina, while four are in South Carolina. Phillips Edison also bought the 84,170 square foot Portland Village in Tennessee and the 176,502-square-foot Highpoint Village in Bellefontaine, Ohio.
JH Snyder Co. and the Ezralow Cos. are giving a $170 million facelift to Southern California's oldest enclosed mall, The Huntington Beach Shopping Center. The 196mall will be converted into a one million-square-foot open-air lifestyle center known as Bella Terra, with Kohl's, REI and Bed Bath & Beyond as anchors. The architectural firm Jerde Partnership is creating an Italianate, town-center design.
Von's Companies Inc. hired commercial real estate and management firm Charles Dunn Company to handle seven of its shopping centers in Southern California. The centers total about 535,000 square feet. Patrick Conn, vice president of Dunn's Los Angeles office, will be the account manager.
Regency Centers purchased the 117,545 square foot Belleview Square Shopping Center in Greenwood Village, Colo. The center is anchored by grocery-store chain King Scoopers and also includes a Starbucks, Radio Shack, Subway and GNC.
Mark Escaja left DeBartolo Development to become president/CEO of a new venture called United Commercial Property Group, based in Cleveland. Escaja was the executive vice president and director of development for DeBartolo. DeBartolo named Thomas Muraco as new development manager for the Cleveland office. Muraco is the former senior vice president of development and construction at the Amsdell Companies.
Taubman Centers named Steve Kieras senior vice president of development. Kieras, a 14-year veteran of the company, will replace John Simon, who is retiring after 27 years with the company. Kieras has been project leader for such developments as Stony Point Fashion Park in Richmond, Va., and the Northlake Mall in Charlotte, N.C., which is scheduled to open September 2005. The Lund Co., a real estate manager and marketer, named Martin Patzner to vice president, director of commercial property management. Patzner will manage a portfolio of 3 million square feet, including retail, commercial office and industrial space. Patzner joined the company in 1996 and was most recently its director of commercial property management.
Atlanta-based Ronus Properties added two new anchor tenants to its Meyerland Plaza in Houston, Tex.; an 116,000 square-foot Target and a 33,862 square-foot Circuit City. The new Target will open Spring 2005 in space once occupied by K-Mart. Slated to open later this year, Circuit City will be situated in the plaza's Phase II expansion.
JH Snyder will develop the 350,000-square-foot Commerce Town Center in Commerce, California, south of Los Angeles, along Interstate 5. Construction is slated to start next year and will feature shops, eateries and a 3,000-seat theater. The center will include open-air walkways with seating and water features.
CB Richard Ellis promoted David LaPierre to senior vice president from first vice president. LaPierre helped complete the Toys “R” Us's flagship deal in Times Square. CB Richard Ellis also promoted Annette Healey to first vice president in the firm's retail service group from vice president. leveland-based KA Inc. will design a 1 million-square-foot open-air lifestyle center in Maumee, Ohio, known as the Shops at Fallen Timbers. REIT General Growth Properties of Chicago will manage it. The 130-acre rtail development will include a Dillard's, Barnes & Noble, PF Chang's and a 20-screen movie theater. The center is slated for a Spring 2006 opening. It will be part of a 450-acre mixed-use project including single-family homes and an office park.