REAL ESTATE

Mixed-Use project gets go-ahead in Minnetonka
St. Pau, Minnesota - Paster Properties and Bader Development announced that the City of Minnetonka City Council has approved the development of a six-story, 155,000-sq.-ft., mixed-use development at 1730 Plymouth Road, Minnetonka, Minnesota.
SRS to drive nationwide store expansion for Walgreen Co.
Dallas - SRS Real Estate Partners has executed an exclusive agreement with Walgreen Co. to assist the retailer’s nationwide new store expansion and relocation strategy. SRS has been a long-time strategic consultant to Walgreens; leading the team for SRS are executive vice presidents Patrick A. Smith and Matthew D. Alexander, who will work closely with Walgreens to enhance the company’s existing store base while evolving its real estate management structure.

Weitzman/Cencor names new CEO

Dallas - For the first time since its founding in 1989, affiliated Dallas-based commercial real estate services firms The Weitzman Group and Cencor Realty Services has a new chief executive. Marshall Mills, previously the firm’s COO, has been promoted to CEO. He takes the reins from company founder and longtime CEO, Herbert D. Weitzman, who will now serve as executive chairman of the statewide retail-focused commercial real estate services firm.
JLL closes sale of two Louisiana shopping centers

Baton Rouge, Louisiana - JLL’s Capital Markets experts announced the sale of Coursey Commons Shopping Center on behalf of Blue Ridge Real Estate Company. Wal-Mart Stores purchased the Baton Rouge, Louisiana shopping center for $10.9 million. The 67,775-sq.-ft. center is anchored by a Walmart Neighborhood Market and includes Sally Beauty Supply, AT&T Mobility, UPS store and Weight Watchers.
Jeweler Charles Krypell to open on Long Island

North Shore, Long Island, New York - Faith Hope Consolo, chairman, and Joseph Aquino, executive VP, of Douglas Elliman's Retail Group are the exclusive leasing and marketing team for the newly named Krypell Plaza at 15 Northern Boulevard, a two-building retail center being completed at the corner of Glen Cove Road. The center will be anchored by international jewelry designer Charles Krypell in a multi-level location.
Colorado Mills and Denver West Village debut a new Dine and Discover program

Lakewood, Colorado - Colorado Mills, the largest outlet and value retail shopping destination in the state, in conjunction with the full-priced Denver West Village located on the Colorado Mills campus, is introducing a Dine and Discover program, allowing restaurant goers to Colorado Mills or Denver West Village participating eateries to claim gift cards for continued shopping at some of Colorado Mills’ retail store.
Project Spotlight: Rouzan Village

Baton Rouge, Louisiana - A new south Louisiana mixed-use development will introduce Alamo Drafthouse Cinema to the state, as architectural firm KTGY Group and developer JTS announce the development of Rouzan Village, the retail center of Baton Rouge master-planned residential community Rouzan.
Sembler and Forge acquire two new shopping centers

St. Petersburg, Florida - The Sembler Company and Forge Capital Partners, in their Forge Real Estate Partners III investment fund, have recently purchased two shopping centers: Causeway Shopping Center in Indian Harbour Beach, Florida, and Springdale Shopping Center in Austin, Texas. FREP now owns five shopping centers, and the joint venture is actively seeking additional investments in grocery-anchored shopping centers throughout the Southeast.
DICK's and ULTA to join Janesville Mall as part of anchor redevelopment

Janesville, Wisconsin - CBL & Associates Properties announced that DICK'S Sporting Goods and ULTA Beauty are coming to Janesville Mall in Janesville, Wisconsin. The two new stores will be situated in the former JC Penney location. Construction is expected to begin in January with the grand opening for both stores scheduled for fall 2015.
ICSC names U.S. design and development award winners

New York City - The International Council of Shopping Centers has named 12 shopping centers as winners of its 2014 U.S. Design and Development Awards competition. ICSC’s U.S. Design and Development Awards are designed to recognize outstanding projects for excellence in the creation of new retail projects, and in the expansion or redevelopment of existing projects, solely within the continental United States.