REAL ESTATE

Houston – The Mansour Group has arranged the sale of the 99% leased, 223,223-sq.-ft. Almeda Crossing Power Center located in Houston, for more than $30 million. The seller was a Texas-based developer and The Mansour Group was able to deliver the property to a national REIT.

The center is leased to an array of national tenants including Ross, Marshall’s, Staples, PetSmart, Conn’s, Party City, Show Carnival, Dollar Tree, Anna’s Linens, Aaron’s and many others and is shadow anchored by a Walmart supercenter.

Beachwood, Ohio -- DDR Corp. announced that CEO Daniel B. Hurwitz will be leaving the company next year, as he and the board agreed not to renew his employment agreement, which expires December 31, 2015.

According to DDR, Hurwitz is expected to remain CEO through 2015 to facilitate a smooth leadership transition.

Hurwitz was named CEO on January 1, 2010, after serving as the company’s president and COO for two years prior. He has worked for DDR in various senior executive capacities since June 1999.

Miami Gardens, Fla. — Palmetto Park, the owner of Palmetto Gardens Plaza, has signed three new leases for the seven-acre shopping plaza located in Miami Gardens. T-Mobile and Cell Phone Repair are both national companies; Lee Nails has a number of other locations throughout Florida.  

Construction on this portion of the plaza is scheduled to be complete by the third quarter of 2015. Construction on a Wal-Mart Neighborhood Store, which will serve as anchor tenant, is underway and will open in the fourth quarter 2014.

Cincinnati — Jeffrey R. Anderson Real Estate Inc. and Casto announced that increased leasing activity during the last six months brings the Rookwood shopping center to 99% occupancy with the addition of new Carhartt, J.Crew Factory and Rally House stores.

In addition, negotiations are underway to lease the only remaining 1,500-sq-ft. space at Rookwood, which will then achieve full occupancy.
 

North Plainfield, N.J. — David Reiner has joined retail real estate services firm Levin Management as VP of leasing. Most recently, Reiner served as director of real estate for Body Central Stores Inc.

During the past 25 years, he has also has held executive- and management-level retail leasing positions with property owners such as Urban Retail Properties, Colonial Properties Trust, and Simon Property Group.
 

NEW YORK — 18 | 8 Fine Men's Salons has leased its first New Jersey locations in Somerset and Essex Counties. Winick Realty Group New Jersey broker Alison Cohen, the exclusive broker for 18|8 Fine Men's Salons in New Jersey, represented the salon in both transactions.

Indianapolis — JLL’s Retail Group has been retained to lease and manage Washington Square Mall in Indianapolis. The property’s tenant mix includes more than 80 national, regional and local retailers, and is anchored by Sears, Dick’s Sporting Goods, Target and Burlington Coat Factory.

The nearly one-million-square-foot regional shopping mall was built in 1974 and underwent a comprehensive renovation in 1999. Regional manager Rick Vita is leading the JLL team on this assignment.

Phoenix — Vestar, a privately-held real estate company in the western U.S. that acquires and manages retail and entertainment destinations, has named Jenny Cushing as assistant VP of leasing. Cushing will be responsible for overseeing and growing the leasing efforts throughout Vestar’s California, Arizona & Nevada projects.