An affiliate of Radiant Partners appointed Jones Lang LaSalle as the leasing and management agent for Kirkwood Mall, an 845,000-square-foot enclosed mall in Bismarck, N.D. The center was built in 1970 and is considered to be the retail hub for the Bismarck/Mandan region. It houses 80 stores, including anchors Herberger’s, I. Keating Furniture World, JCPenney and Target.
“Kirkwood Mall is not only a premier mall in the heart of North Dakota but it’s the second largest in the state,” said Greg Maloney, president and CEO of Jones Lang LaSalle Retail, in a statement. “It’s a great mix of retail, dining and entertainment choices, drawing a large customer base from all around the capital. We are thrilled to handle both leasing and management for this mall and look forward to bringing out national expertise to bear.”
Kimli Cross, regional director of retail leasing with Jones Lang LaSalle, along with Chad Macy, Russell Petty and Paul Schable, will handle this assignment.
The Radiant Partners affiliate recently purchased the mall from Metropolitan Life Insurance Co.
Brookfield Launches $40M Redevelopment Project at LA’s FIGat&7th
Brookfield Office Properties began a $40 million redevelopment project on FIGat7th, a 330,000-square-foot retail center in downtown Los Angeles. The project will encompass the introduction of “Taste,” a 500-seat indoor/outdoor dining destination, new stores, a 60-foot-wide grand stairway and a structural glass canopy showcasing the stairway and new retail concourse. A new, 100,000-square-foot CityTarget will anchor the redeveloped center. The redevelopment is scheduled to be completed concurrent with the store’s opening in the fall of 2012.
Gensler Los Angeles is serving as the leadfirm for the project and Turner Construction Co. is general contractor. Kevin Dee and Ted Slaught, of Charles Dunn, serve as the exclusive leasing agents for Figat7th.
“We are excited to have begun the redevelopment at FIGat7th, which when completed will redefine the shopping and dining experience in downtown Los Angeles,” said Bert Dezzutti, head of Brookfield Office Properties’ Southern California operations, in a statement. “We are investing $40 million to dramatically transform this centrally located commercial hub to reflect the rapid growth and evolution of downtown’s 24-hour, multi-faceted community. With the high caliber of apparel brands, retailers and restaurateurs we are in discussions with for tenancy, FIGat7th will not only be the primary retail center in downtown Los Angeles, it will truly become a destination center for shopping and dining in the entire region.”
Hudson Cos., Related to Help Refresh Retail Corridor on Roosevelt Island in NYC
The Roosevelt Island Operating Corp. (RIOC) reached an agreement with Hudson Cos. Inc. and Related Co. to form a joint venture for the master lease of the retail corridor on Roosevelt Island in New York City. RIOC currently controls 34 retail stores totaling 100,000 square feet on the island. Today, Roosevelt Island is a community of about 12,000 residents and workers. Planned development in the area will increase the housing stock by 5,500 units. The Hudson/Related team will start work on the retail corridor by July 1. The agreement is subject to a formal approval by the RIOC board of directors.
“We want to have a dramatic impact on how retail is experienced on Main Street,” said Kimberly Sherman Stamler, vice president of Related, in a statement. “We are going to be looking at upgrading the storefronts, signage, street furniture and displays. And we plan to hold all of our tenants to a very high standard with their products and displays.
The Wilder Cos. to Lease, Manage Wayside Commons in Massachusetts
UBS Realty Investors appointed The Wilder Cos. as leasing and management agent for Wayside Commons, a 195,100-square-foot open-air shopping center in Burlington, Mass. Tenants at the center include LL Bean, Arhaus Furniture and Coldwater Creek, among other stores.
Africa Israel Signs Up Restaurant Tenants for Times Square Space
Adventure Entertainment LLC signed a lease with Africa Israel USA (AFI USA), which was acting on behalf of its joint venture with Five Mile Capital Partners LLC, for a 23,452-square-foot theme-based restaurant at the Times Square Building in New York City. The restaurant will occupy the ground and second floors of the six-floor retail complex at the property.
Laurie Golub, general counsel and managing director of business affairs with AFI USA, and Joshua Strauss and Spencer Levy, of Robert K. Futterman & Associates, represented AFI in the transaction. Jeffrey Roseman, of Newmark Knight Frank, represented Adventure Entertainment.
New Grocer, Restaurant Tenant Bring Occupancy at Galloping Hill Center in New Jersey to 100%
Levin Management Corp. signed leases with two new tenants at the Galloping Hill Center, a 67,973-square-foot retail center in Union, N.J. Seabra Foods, an ethnic grocer, signed for a 30,861-square-foot space and Koki Japanese Buffet signed for a 5,500-square-foot space.
Ethan Goldsmith, of Levin Management, negotiated both transactions. The leases bring the center to full occupancy.
New Tenants Open Doors at Citadel Outlets in LA
Several new retailers signed leases at Citadel Outlets, a 900,000-square-foot mixed-use center in Los Angeles.
The Children’s Place signed a lease for 4,994 square feet of space. The retailer opened its doors on March 29.
Tilly’s signed a lease for 5,162 square feet of space. The chain opened the store on March 21.
Earlier this year, Rockport signed a 2,062-square-foot lease and Sprockets Kids signed a 4,393-square-foot lease at the center.
Movie Theater to Open at Freeport Village Station in Maine
Nordica Theatre signed awith Berenson Associates to open a six-screen cinema complex at Freeport Village Station, a lifestyle center in Freeport, Maine. The project’s estimated cost is $2.6 million.
Tir Na Nog Signs Manhattan Lease
Tir Na Nog, an Irish pub and restaurant chain, signed a lease for 12,000 square feet of space at 315 W. 39th St. in New York City. Scott Galin, principal of Handler Real Estate Org., and Jason Pennington, of Ripco Real Estate, represented the landlord in the transaction.
Burroughs & Chapin Co. Inc. signed leases with 22 new merchants at Broadway at the Beach, a $250 million, 350-acre festival entertainment complex in Myrtle Beach, S.C. These include Yours and Mayan, FantaSea, Boardwal Winery, Palmetto Paradise, Allure, Flip Flop Shop, Crabby Jack’s General Store, Lucy Lou’s, Reigning Cats and Dogs, SOL, Caribongo, Everyday is a Holiday, Devo Olive Oil Co., Capriz, Tilted Kilt Pub & Eatery, Carolos’n Charlie’s Restaurant, Good Time Charlie’s, Baja Bistro and Froyoz.
Tri-Land Properties Inc. signed new leases throughout its properties in Indiana and Kansas City. The transactions included:
- Lee Lee Nails signed a 1,200-square-foot lease at 300,592-square-foot Century Plaza in Merrillville, Ind.
- Fashionista Exchange signed a 1,270-square-foot lease, Pride Cleaners signed a 1,202-square-foot lease and Dr. Holly Xu signed a 976-square-foot lease at the 118,000-square-foot Cherokee South Plaza in Overland Park, Kan.
- Party Time Liquor signed a 2,313-square-foot lease at the 50,000-square-foot Devonshire Village in Olathe, Kan.
- Jimmy John’s signed a 1,830-square-foot lease at the 180,000-square-foot 10 Quivira Plaza in Shawnee, Kan.
Winick Realty Group LLC has been appointed as the exclusive leasing agent for the multi-level retail space at 3 West 57th St. in New York City. Lori Shabtai, executive vice president, Monica Kass, director, and Kelly Gedinsky, associated director, will handle this assignment on behalf of Winick. The team is seeking luxury tenants to occupy the space.
Robert K. Futterman & Associates promoted Gary Alterman to executive vice president, Sal Ferrigno to vice president, Jackie Totolo to director and Elyse Bandel to executive vice president of marketing and communications. Alterman previously served as senior vice president. Ferrigno previously served as senior managing director. He has more than 20 years of experience in retail real estate and has represented such landlords as Vornado Realty Trust, RFR Realty, The Lefrak Org. and Reckson Associates, among others. Jackie Totolo previously served as associate. She joined the firm in 2007 as a marketing assistant and later transitioned toassignments. Bandel previously served as senior vice president of marketing and communications. She has more than 20 years of experience in commercial real estate marketing.
Colliers International hired Bruce Beegel as managing director in its tenant representation division. Previously, Beegel served as senior associate with CB Richard Ellis.
CB Richard Ellis Group Inc. hired Lee Ann Korst as first vice president in charge of the company’s public institutions and education solutions group in the Southeast region. In her new position, she will overss the provision of real estate services to state, county, city and education institutions. Korst has 20 years of experience in commercial real estate. Previously, she served as deputy executive director with the Department of Highway Safety and Motor Vehicles for the State of Florida.
FRCH Design Worldwide hired James Harkin as vice president and market sector leader. In his new position, Harkin will lead all business activities for retail, mixed-use environments, higher education and healthcare. Previously, he worked as director of architecture with MKC Architects. He has 23 years of experience in the business.
RHYS Commercial hired Tyler Lyman as senior associate in its retail division. In his new position, Lyman will be responsible to tenant representation, project leasing, site selection and disposition services on behalf of retail tenants and landlords, with a particular focus on New England and Westchester County. Prior to joining RHYS Commercial, he worked for CB Richard Ellis.