Development/Redevelopment

New York City -- Prudential Douglas Elliman's Retail Group said it has successfully orchestrated a buy-out/lease disposition at 46 East 57th Street for jewelry house Buccellati, and simultaneously arranged its move to 810 Madison Avenue.

The Milan, Italy-based company has closed the East 57th Street store after more than four decades and will open in a new location on the "Jewel Mile" between 67th and 68th Streets.

Buccellati will take immediate possession of the former Bonpoint store at 810 Madison Avenue.
 

Atlanta -- Aaron's announced that it has reached an agreement to purchase 11.5% of Perfect Home Holdings Limited, a privately-held U.K. rent-to-own company, which operates under the PerfectHome brand.

PerfectHome currently has 45 stores open throughout England and has plans to approximately double the number of stores over the next several years.

Menomonee Falls, Wis. -- Kohl’s Department Stores’ new store prototype has achieved LEED Gold precertification using the LEED for Retail: New Construction rating system, making Kohl’s the first U.S. company to achieve this designation in the LEED Volume Program. The program, administered by the United States Green Building Council, launched in November 2010.

New York City -- Brixmor Property Group announced Tuesday a series of corporate and regional enhancements to its leasing and redevelopment capabilities as it re-focuses on growing portfolio occupancy, strengthening retailer relationships and ramping-up redevelopment efforts.

Timothy J. Bruce has been appointed executive VP, leasing and redevelopment and as a member of the company’s Management Committee.  

New York City -- Saks Fifth Avenue will close its store in downtown Pittsburgh in 2012, the Pittsburgh Tribune-Review reported. The news follows negotiations between the retailer, the store’s landlord and city officials over funding for renovations to the building.

Paraiso Town Center in the Thousand Oaks, Calif., master-planned community of Dos Vientos Ranch is being renamed The Village at Dos Vientos Ranch, announced Peter Cohen, president of Paradise Capital Group, which acquired the 50,000-sq.-ft. mixed-used retail and office complex in June 2010.

A new name was very important toward rebranding and marketing the property, said Cohen. “We wanted to give the center a fresh start with a new name that was easy to pronounce and remember,” he said.

New York City -- O'Connor/Wafra Retail Partners, a fund sponsored by O'Connor Capital Partners and Wafra Investment Advisory Group, said it has acquired a 278,209-sq.ft., open-air center, Baybrook Village, in Houston.

Baybrook Village is anchored by Sports Authority, Ross and Toys ‘R’ Us, and also features PetSmart, Ulta, Jos. A. Bank and Jo-Ann Fabric & Crafts.  

Dallas -- SRS Real Estate Partners announced the hiring of Brandon L. Singer as a first VP in the New York office.

Singer will join SRS’ newly formed SRS Urban team, which consists of seasoned retail specialists focused on major urban retail markets in the United States. In the Metro New York market, he will help lead the SRS Urban push into landlord services and investment sales.

Singer was most recently a senior director at Robert K. Futterman and Associates.