REAL ESTATE

JLL names president of Americas Retail Brokerage Services
Houston - JLL has appointed Naveen Jaggi as president of JLL Americas Retail Brokerage. Jaggi comes to JLL from CBRE, where he was a senior managing director of Retail Services.

In his new role at JLL, Jaggi will oversee more than 100 brokers, spanning 25 major markets, who serve the firm’s 500 retail owner and occupier clients. Jaggi is also tasked with creating deeper integration, collaboration and consistency across the Americas retail platform and globally.
Project Spotlight: Steelpointe Harbor
Bridgeport, Connecticut - A major Northeastern waterfront project has achieved lift-off. Bridgeport Landing Development, a subsidiary of The RCI Group, announced that it has completed the $15-million Phase I infrastructure improvements at its mixed-use Steelpointe Harbor project in Southern Fairfield County Connecticut and it has begun going vertical.

Metropol Instanbul will debut as one of largest mixed-use projects in Turkey

Istanbul, Turkey - Annapolis, Maryland-based architectural firm Roy Higgs International has been retained to design the retail portion of Metropol İstanbul, a global mixed-use project and architectural landmark of Istanbul that is rising within the borders of the Istanbul International Financial Center in Ataşehir.

“Metropol İstanbul will breathe new life into this vibrant city, elevating its architectural significance,” said Elif Ozbay, design manager for Metropol İstanbul.
The Amazon Effect: Retail’s Santa Clause or Grinch?

By Leela Rao-Kataria
Lululemon opens West Coast flagship

New York - Lululemon on Thursday will open a 5,766-sq.-ft. flagship at Third Street Promenade in Santa Monica, Calif.. The visual centerpiece of the store is an intricately-laid domed mosaic ceiling—in a vibrant blue hue—that reads, "Breath deep & appreciate the moment." The storefront boasts a colorful, two-story, illuminated glass corner.
Sprouts Farmers Market to join Strong Station

Huntsville, Alabama - GBT Realty Corp. announced the expansion of Strong Station, a 180,000-sq.-ft. neighborhood center in Huntsville, Alabama, currently tenanted by Academy Sports + Outdoor. Nearly 96% leased, the $16-million Phase II adds 95,000 sq. ft. of retail on nine acres to the east of the existing sporting goods store.
Mattress Firm meets Street with Q3 profit, plans store growth

Houston - Mattress Firm Holdings met Wall Street expectations with its financial performance in the third quarter of fiscal 2014. In addition, the company increased its guidance for store growth in the fiscal year 2014, and now plans to have opened a total of 200-220 new stores and acquire 665 stores by the end of the fiscal year.

The new store total includes 163 stores opened and 619 acquired so far this year.
One Daytona breaks ground on early site work

Daytona Beach, Florida - One Daytona, the proposed mixed-use and entertainment destination across from Daytona International Speedway in east Central Florida, began early site work November 24, according to joint-venture owners International Speedway Corp. and Jacoby Development. The work underway includes phase one infrastructure improvements by P&S Paving.
Mid-America arranges sale of Point Loomis to Phillips Edison

Milwaukee - Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of Point Loomis Shopping Center located in Milwaukee. Cincinnati-based Phillips Edison purchased the 160,533-sq.-ft. center.

Point Loomis Shopping Center is located at the southwest corner of 27th Street and Loomis Road in Milwaukee, and features Kohl’s, Pick ‘n Save, and Chase Bank.

Terms of the deal weren’t disclosed.
JLL closes sale of One and Olney Square

Philadelphia - Investors are feeling bullish on upcoming retail opportunities in Philadelphia, and it’s evident as JLL’s Capital Markets experts announced the sale of One and Olney Square on behalf of BLDG and The Feil Organization. Wharton Realty Group purchased the center.

Anchored by ShopRite, the community shopping center totals 339,784 sq. ft. and includes tenants such as Dollar Tree, Modell’s and Burger King.