Real Estate

Ridgefield, Conn. — Spanish fast-fashion retail giant Zara has chosen Schimenti Construction Company to build its new flagship at 666 Fifth Avenue in Manhattan. The 39,000-sq.-ft. store is located in the former home of the NBA Store.

“We have begun the first phase (demolition and structural work) of the project which has included lowering the second floor to provide a higher ceiling and installing new steel beams,” said project executive Joseph Schimenti.

New York City -- Centro Properties Group US announced it has officially changed its name to Brixmor Property Group, Inc., effective immediately. 

The name change follows the acquisition of the company in June by an affiliate of Blackstone Real Estate Partners VI L.P. 

Brixmor is the second largest owner of community and neighborhood shopping centers in the United States with 585 properties aggregating approximately 92 million sq. ft.

Austin, Texas -- Jacksonville, Fla.-based Regency Centers said it closed on the acquisition of Tech Ridge Center, an 187,529-sq.-ft. neighborhood shopping located in Austin, Texas, on Sept. 26.  

Built in 2001, Tech Ridge Center is anchored by an 84,352-sq.-ft. H-E-B alongside national retailers including Office Depot, Petco, Subway and Massage Envy.  The center is 93% occupied.

Madison, Wis. -- Lee & Associates’ Madison office said it has completed $2.8 million of leases at The Shoppes at Hartford; a 24,000-sq.-ft. retail center in Hartford, Wis. 

Located next to a new Wal-Mart Super Center, Lee Madison had the center 75% pre-leased before construction commenced and 100% leased before construction was finalized. Construction commenced April 1, and all tenants are expected to open before Christmas 2011.

Fort Worth, Texas -- Dallas-based Cypress Equities said that its West 7th mixed-use development in Fort Worth, Texas, has signed specialty women’s fashion retailer Peruvian Atelier for a 2,357-sq.-ft. shop slated to open in late 2011.

The new store will be located between Flirt Boutique and the soon-to-open Keena’s.

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. 

Thousand Oaks, Calif. -- Shoe repair store Shoe Lab has opened at Janss Marketplace, in Thousand Oaks, Calif., joining tenants such as Burlington Coat Factory, Marshalls, Buca di Beppo, Qdoba Mexican Grill, Panera Bread, Gold’s Gym, Old Navy, Mann Theaters, and TGI Friday’s. 

Janss Marketplace is managed by NewMark Merrill Cos., LLC.

Indianapolis -- Kite Realty Group said that Dibella’s Subs will join Traders Point II shopping center, in Indianapolis, with a 3,200-sq.-ft. Indiana debut. The 447,507-sq.-ft. center is anchored by Bed Bath & Beyond, Books-A-Million, Dick’s Sporting Goods, Marsh Supermarket, Michael’s, Old Navy, Petsmart and AMC Theatre.  

At Cool Creek Commons in Carmel, Ind., Kite leased 5,554 sq. ft. to Boom Bozz Pizza & Tap House, which will open its first location in Indiana.

Houston -- Baker Katz, X Team International partner and full-service commercial real estate brokerage firm in Houston, said it has completed the sale of one of Houston’s modern landmark properties formerly occupied by a men’s fine clothing retailer.  

The 14,000-sq.-ft. building was sold to Braun Enterprises for an undisclosed amount. It had been occupied for more than 61 years by Harolds, one of the area’s most well known men’s fine clothing retailers until the retailer closed its doors in August. 

Fort Lauderdale, Fla. -- Columbia, S.C.-based Edens & Avant said it has purchased Union Planters Plaza, a 155,000-sq.-ft., Whole Foods-anchored retail center in Fort Lauderdale, Fla. 

Located in one of Broward County’s most active regional corridors, Union Planters Plaza was originally built in 1989 and expanded in 2000 and sits on a total of 14.6 acres. Union Planters Plaza is the 25th retail center owned by Edens & Avant in the Florida market, including 12 centers in South Florida.