Development/Redevelopment

New York City -- Spain’s The Inditex Group of Spain will pay $400 million for a flagship Zara retail store at 666 Fifth Avenue in Manhattan.

According to a report by the Wall Street Journal, who cited people familiar with the matter, the transaction is one of the largest retail condominium deals ever. Zara bought out a 32,000-sq.-ft. lease from former occupant NBA store, which had less than three years remaining, according to the report.

Shanghai, China -- Mattel announced Monday that it has closed its much-acclaimed Barbie flagship store, which opened March 2009 in Shanghai.

The El Segundo, Calif.-based toy manufacturer, which officially closed the store’s doors on Monday, cited a change in strategy as reason for the closure. Mattel said in a statement that it plans to promote the Barbie brand via road tour -- on a pink tour bus.

Pembroke Pines, Fla. -- Indianapolis-based Kite Realty Group said Thursday that five new tenants will open at Cobblestone Plaza, located in Pembroke Pines, Fla.

The center is anchored by Whole Foods, All Pets Emporium and Party City.

New York City -- The District of Columbia came out on top on The U.S. Green Building Council’s 2010 list of Top 10 states for LEED-certified commercial and institutional green buildings per capita, based on the U.S. 2010 Census information. The district had 25 sq. ft. of LEED-certified space per person in 2010, followed by Nevada, with 10.92 sq. ft. per person in 2010.

The top LEED states per capita, including the District of Columbia: 

Houston -- Square Mile Capital Management and Pacific Retail Capital Partners, owners of West Oaks Mall in Houston, announced an agreement with Regal Entertainment Group to bring its Edwards Theatres to the center with a 14-screen multiplex.

The Edwards Theatre will be the entertainment anchor for the redevelopment of the mall.

Columbia, S.C. -- Edens & Avant has announced the promotion of Carol Hall to VP portfolio management. In her new position, she will be responsible for creating value through the delivery of technology-enabled process and analytical tools to the investment management, property management and leasing teams.