Development/Redevelopment

North Plainfield, N.J. -- Levin Management Corp. said that Timothy G. DeCola has been named VP and CFO of the company, replacing the retired Harold Harris.

DeCola joins Levin from Pettinaro Construction Co., where he served as CFO. He will be responsible for all aspects of corporate finance and risk management at Levin for company-owned and managed properties as well as for real estate tax and financing reviews.

Katy, Texas -- Houston-based Vista Equities Group said that a lineup of new retailers and restaurants will open at its mixed-use development in Katy: LaCenterra at Cinco Ranch.
 
Three new retailers opened for business in fourth quarter 2012, and six others have plans in place for first and second quarter openings this year. Lease locations include existing retail space in Phase I and in the new Phase II-A, currently under construction.
 

Miami -- Jones Lang LaSalle’s Capital Markets experts announced Tuesday the firm has closed the sale of Miracle Marketplace in Miami on behalf of AWE Talisman.  

Heitman purchased the power center, which is located in the Coral Way submarket. The 243,047-sq.-ft., seven-story Class A vertical retail property is located along the Miracle Mile/Coral Way and is anchored by Nordstrom Rack, Ben Bath & Beyond, Marshalls, LA Fitness, PetSmart, DSW Shoe Warehouse and Ulta.

NEW YORK — Limited access to healthy, affordable food choices, is an oft-cited reason for poor food habits among the nation's less fortunate. In order to address this issue, hunger relief organization Philabundance has teamed up with retail design consultancy CBX to create a prototype for a not-for-profit grocery store.

Miami -- Swire Properties and Bal Harbour Shops announced Wednesday they have agreed to an equity partnership to jointly develop the retail component of Brickell City Centre, currently under construction in the Brickell financial district of downtown Miami.

The 2.9 million-sq.-ft. Brickell City Centre will include 500,000 sq. ft. of high-end retail along with condominiums and hotel slated for completion in latter 2015.
 

Canton, Mass. -- Dunkin’ Donuts has signed a franchise agreement with Vietnam Food and Beverage Co. Ltd. for the development of Dunkin' Donuts restaurants across the country over the next several years, with the first locations planned for the Ho Chi Minh city area.
  
“We are excited to partner with Vietnam Food and Beverage Co. Ltd., which has a deep knowledge of the Vietnamese consumer, to open the first Dunkin' Donuts restaurants in Vietnam,” said Giorgio Minardi, president, Dunkin' Brands International.”

New York City -- Saks Inc. announced Tuesday it will shutter its Saks Fifth Avenue store in the Dallas Galleria on June 15. The retailer has operated a store in Dallas since 1982, and the summer closing will leave some 120 associates with the choice of transfer or severance.

Simultaneous with the Saks departure announcement was news from department store chain Belk that it will fill the vacated Galleria space with a $20-million, 170,000-sq.-ft. flagship store that starts construction in July and is slated to open spring 2014. 

New York -- Barnes & Noble is planning to shutter approximately one-third of its stores during the next 10 years, CEO Mitchell Klipper said in an interview with the Wall Street Journal. As of Jan. 23, the company operated 689 stores. (The company also operates a separate division of 674 college book stores.)

“In 10 years we'll have 450 to 500 stores,” said Klipper in the interview, who noted that, even with the reduced store count, “it’s a good business model.”