Real Estate

Los Angeles -- CBRE Group announced that Robert E. Sulentic assumed the position of president and CEO, effective Dec. 1.
   
Sulentic succeeds Brett White, who, as previously announced, retired on Nov. 30.

Sulentic, most recently the company’s president, also joined CBRE’s board of directors, which has expanded to 11 members. White also remains a member of the board.
 

Fort Worth, Texas -- Trademark Property Group announced that together with Coventry Real Estate Advisors, Southern Land Co. and PCCP, it has recapitalized the Watters Creek at Montgomery Farm mixed-use project near Dallas in a joint-venture arrangement.
 
The Joint Venture acquired the note on the property from a multi-bank syndicate led by PNC Bank. PCCP provided the capital for the transaction from its opportunistic fund, PCCP Equity VI, L.P.

Boston -- DJM Realty announced that Josh Podell has joined the company as a specialty retail and outlet consultant.

Podell, who will continue to operate his own real estate consultancy Podell Real Estate Advisors, counts among his retail experience a lengthy stint as VP real estate for Jones Retail Corp., a division of Jones Apparel Group.

Naples, Fla. -- New York City-based Brixmor Property Group has announced the Dec. 6 grand re-opening of its redevelopment of Naples Plaza, one of the oldest shopping centers in Naples, Fla.

Melrose, Mass. -- Charter Realty & Development Corp. announced that shortly after acquiring Towers Plaza in Melrose, Mass., it has signed a 20-year lease for 29,980 sq. ft. to Whole Foods Market.

Whole Foods will move into a space currently occupied by Johnny’s Foodmaster. The space will undergo a major renovation that will coincide with Charter’s renovation of the balance of the center.

Philadelphia -- Metro Commercial Real Estate said that David’s Bridal will open an 8,164-sq.-ft. store at Great Northeast Plaza, located in the northeastern part of Philadelphia.

The new store is slated to open by spring 2013.

When Simon Property Group completes its transformational redevelopment of Del Amo Fashion Center in Torrance, Calif., it will be with a new Nordstrom department store in place.

The iconic 2.3-million-sq.-ft., super-regional center will feature a 138,000-sq.-ft. Nordstrom, which is relocating to Del Amo from South Bay Galleria. Nordstrom is slated to open in 2015.

Los Angeles -- Multiple reports on Tuesday said that British billionaire and Topshop owner Sir Philip Green is negotiating with Leonard Green & Partners to sell a 25% stake in the TopShop and Topman chains.

The two brands, which would be broken off from Philip Green’s other Arcadia Group retail holdings, are valued at $1.61 billion. An announcement is expected as early as Thursday.

Neither Philip Green nor Leonard Green has commented directly on the impending transaction.

Indianapolis -- Simon Property Group said Wednesday it has acquired Paragon Outlets Grand Prairie in Grand Prairie, Texas, and Paragon Outlets Livermore Valley in Livermore, Calif.

Simon now owns 100% of each asset.

The 417,000-sq.-ft. Grand Prairie center is tenanted by Saks Fifth Avenue Off 5th, Bloomingdale's The Outlet Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Michael Kors, Nike and Tommy Hilfiger. The center opened in August 2012 and is 100% leased.

Ridgefield, Conn. -- Schimenti Construction announced it has completed an expansion of its company headquarters in Ridgefield, Conn., doubling the size of the space from 10,000 sq. ft. to 20,000 sq. ft.

The expansion also includes a redesign of the main floor with the creation of a new reception area. A new executive conference room has been added on the first floor, as well as new waiting areas on both floors. A training space has been incorporated into the new design and a new employee café features a Starbucks coffee bar.