Deals

Denver — Forecasting a brisk pace for investor activity in the Denver commercial real estate market due to growth in the oil/gas and technology industries, Jones Lang LaSalle has announced the appointment of industry veterans Patrick Devereaux and Jason Schmidt as investment sales experts in the Rocky Mountain region. The two join JLL as executive VPs.

With more than 20 years of experience as an industrial broker, Devereaux previously served as senior director in the Capital Markets Group at a national brokerage.

Orlando, Fla. — Jones Lang LaSalle has announced the appointment of Justin Greider to its Florida retail leasing business. Greider joins as a VP to oversee the firm’s retail leasing portfolio. Greider will work with Florida retail market lead John Lambert and senior VP Sean McConnell to provide strategic planning and execution of merchandising plans for the firm’s neighborhood, community and premier shopping centers throughout Florida.

Jupiter, Fla. — Burger & Beer Joint has announced plans for an expansion of 50 stores through franchised and corporate units over the next few years. The expansion is already well underway.

The company recently opened a third store in South Florida and has signed a 10-store franchise agreement to open stores throughout Florida and Georgia.

Boston — The Wilder Companies has been awarded five new leasing and management contracts for nearly 900,000 sq. ft. in five shopping centers on the north and south shores of Boston.

The Crossing at Walkers Brook in Reading, Mass., is a 480,000-sq.-ft. center featuring Jordan’s Furniture, an IMAX Theatre and The Home Depot. An 80,000-sq.-ft. pedestrian-friendly lifestyle portion of the center features Staples, Golfsmith, the Paper Store, Macaroni Grill, Chili’s, and Starbucks.

Los Angeles — CBRE Group has appointed Chris Ludeman global president of Capital Markets.

Ludeman will oversee the global growth and integration of CBRE’s Capital Markets Service business line, which includes Investment Sales, Debt & Structure Finance and Capital Advisors activities worldwide, working with CBRE’s Capital Markets leaders around he world.

A 33-year veteran of CBRE, Ludeman most recently served as president of the Capital Markets business in the Americas.

Meriden, Conn. — A TJX Marshall’s store has leased a 23,137-sq.-ft. space at the Meriden Mall in Meriden, Conn. Charter Realty and Development represented the TJX Company in the transaction. Charter Realty is TJX’s exclusive broker for Connecticut, and this is the 25th lease TJX lease the company has arranged.

Anchored by Best Buy, Dick’s Sporting Goods and Macy’s, the 894,435-sq.-ft. mall, owned by The Westfield Group, has 142 stores and ranks as the seventh largest mall in Connecticut.

Burlington, Mass. — Torchlight Investors has sold the property at 476 Boston Turnpike. KeyPoint Partners represented Torchlight in the transaction.

B-W Warrenville Operations bought the property, a former Borders Books store, prominently located in a retail-intensive section of Route 9 near Stop & Shop, Home Depot, Bed Bath & Beyond, Bob’s Stores and Staples.

The new owner plans to redevelop the site for Buffalo Wild Wings and Tile Shop.

Dallas — A fund managed by Cypress Equities has acquired Promenade Tannehill in Bessemer, Ala., a suburb of Birmingham.

Tannehill is a 347,151-sq.-ft. regional power center that opened in 2008 and presently houses more than 30 retailers, including Target, Publix, J.C. Penney, Michaels, PetSmart, Premiere Cinemas, Charming Charlie, Anna’s Linens and Ross Dress For Less.

Norton, Va. — Rivercrest Realty Associates has acquired the 81,297-sq.-ft. Norton Commons shopping center in Norton, Va., for $6,910,000.

Divaris Real Estate represented the seller, General Electric Credit Equities, in the transaction. At the time of the sale, the center, anchored by Burke’s Outlet, was 98% occupied.

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the sales of two power center properties. In two separate transactions, PREIT sold Christiana Center in Newark, Del., and Commons at Magnolia in Florence, S.C. for $87.3 million. The proceeds represent a blended cap rate of 6.8%. Gains on the sales totaled approximately $45.4 million.

In connection with these transactions, the buyer assumed the $49.2 million mortgage loan secured by Christiana Center.