REAL ESTATE

Caruso signs first U.S. lease in Manhattan

BY Michael Fickes

New York — Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, has leased a multi-level space at 45 East 58th Street in the Plaza District in Manhattan, to Caruso, the exclusive Italian menswear label.

The new location will be Caruso’s first in the United States. It will be the brand’s New York flagship and showroom.

Formerly the Spanierman Gallery, the unusually large space encompasses more than 11,000 sq. ft. on two levels.

Consolo and Aquino represented the tenant in the transaction. Ripco represented the landlord, 480 Park Avenue.

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REAL ESTATE

SRS wins U.S. MAXI Award at ICSC

BY Michael Fickes

DallasSRS Real Estate Partners earned a silver U.S. MAXI Award at the Encore Hotel in Las Vegas during the ICSC RECon Convention. The awards are open to shopping centers, shopping center companies, specialty retailers, specialty leasing managers, marketing directors and general managers.

SRS received a silver Award in the B2B division of the Traditional Marketing category for its effective brand enhancement campaign.

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REAL ESTATE

Marcus & Millichap brokers Playa Vista sale

BY Michael Fickes

Playa Vista, Calif. — Marcus & Millichap has arranged the sale of The Shops at Concert Park, a portfolio of two 100% triple-net leased retail condominium shopping centers in Playa Vista, California, a master planned community in the Westside region of Los Angeles.

The buyer paid $16.9 million for the properties. That equates to $743 per sq. ft. The Marcus & Millichap Capital Corp. arranged $10,815 000 in CMBS financing to facilitate the sale.

The portfolio comprises the 11,828-sq.-ft. Pacific Promenade and the 10,907-sq.-ft. Seabluff Drive. Each center is on the ground floor of a mixed-use development, with 179 residential condominiums above.

Marcus & Millichap’s Encino, California, office represented the seller, an affiliate of Brookfield Residential. The buyer is a foreign investor.

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