Real Estate

Los Angeles -- CBRE Group released research findings on Tuesday that showed Hong Kong’s continued top position as the world’s most expensive global retail market, recording prime rents nearly 150% higher than New York City.

London ranked third, with prime rental rates 400% lower than Hong Kong’s.

ELIZABETH, N.J. — Century 21 is opening a new concept store at the Outlet Collection Jersey Gardens in Elizabeth, N.J. The retailer hopes a smaller footprint will offer shoppers an “elevated shopping experience” with a highly edited assortment of fashion and accessories for men and women.

Brooklyn, N.Y. -- Home furnishing retailer West Elm, owned by Williams-Sonoma, will open a store in King of Prussia, Pa., on May 16.

The 8,406.-sq.-ft. store will be the second West Elm store in Pennsylvania, following the Philadelphia store.

Cleveland -- Marcus & Millichap Real Estate Investment Services said it has named Craig M. Fuller director of the firm’s National Retail Group and Net Leased Properties Group in Cleveland.

Fuller joined Marcus & Millichap in June 2008. He specializes in the sale of both multi-tenant and single-tenant net-leased retail investment properties throughout the Midwest with a special focus on Ohio and Pennsylvania.

Dallas -- SRS Real Estate Partners said it has appointed Bob Taylor as senior VP in the New York office.

This is Taylor’s second stint with SRS.  In his first, he directed Hard Rock Café’s national expansion and relocation efforts. Taylor will be focused on tenant and landlord representation for the New York team, and returns to SRS from Cassidy Turley, The Staubach Co., and Staubach Retail.

Boston -- A landmark project in Boston’s Downtown Crossing has launched leasing. Millennium Partners has appointed Cushman & Wakefield as the exclusive retail leasing agent for its Millennium Tower/Burnham Building project, which is the site of the former Filene’s Department Store and consists of the landmark 1912 Burnham Building and a contemporary, mixed-use tower that will rise 625 ft. into the Boston skyline.  

Minneapolis -- Cassidy Turley announced the promotion of five employees at its Minneapolis office.
 
Brian Woolsey has been promoted to managing director; he previously served as senior VP. Jennifer Pelant has been promoted to associate VP from associate; Mark Richardson has been promoted to assistant chief operating engineer, from lead operating engineer; Angela Samargia has been promoted to senior property manager, from property manager; and Robert Franks was promoted to business manager from senior office manager.
 

St. Petersburg, Fla. -- The Sembler Co. has promoted John Paul (J.P.) Guzzardo to the position of VP development, charging him with leading the Build to Suit department focused on ground-up development projects in the U.S.

Previously, Guzzardo held positions as real estate manager and director of real estate for Sembler.