REAL ESTATE

Cole Real Estate executes 1.7 million sq. ft. in retail leases in 2012

BY Katherine Boccaccio

Phoenix — Cole Real Estate Investments announced it executed leases totaling 1,658,000 sq. ft. at Cole-related properties throughout 2012.

The transactions included 390,000 sq. ft. of new leases and 1,268,000 sq. ft. of lease renewals, bringing Cole’s multi-tenant retail property occupancy rate to 97.7%.

Notable new leases, according to Cole, included five separate transactions with retailer Five Below at locations nationwide, including Camp Creek Marketplace in East Point, Ga. (10,000 sq. ft.); Cumming Town Center in Cumming, Ga. (8,000 sq. ft.); Waterside Marketplace in Chesterfield, Mich. (8,000 sq. ft.); Mueller Regional Center in Austin, Texas (7,500 sq. ft.); and Sunset Valley Homestead also in Austin (8,000 sq. ft.).

Additionally, Cole’s Asset Management team signed 1.1 million sq. ft. of lease extensions and new development across its portfolio in 2012.

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REAL ESTATE

New retailers and restaurants to open at LaCenterra

BY Katherine Boccaccio

Katy, Texas — Houston-based Vista Equities Group said that a lineup of new retailers and restaurants will open at its mixed-use development in Katy: LaCenterra at Cinco Ranch.

Three new retailers opened for business in fourth quarter 2012, and six others have plans in place for first and second quarter openings this year. Lease locations include existing retail space in Phase I and in the new Phase II-A, currently under construction.

New retailers and restaurants include Brothers, The Flower Girls, Lavo Collections, The Sweet Boutique, Bonefish Grill, Emmanuel Salon, Grimaldi’s Pizzeria, World of Beer and Zoës Kitchen.

VEG and partner Amstar began construction on LaCenterra’s Phase II-A in October. According to Vista’s VP development, Dana Garnett, the additional 39,000 sq. ft. of retail space and the Willow Fork Drainage District’s Central Green amphitheater will be completed this spring.

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REAL ESTATE

Bayer Properties names VP asset management

BY Katherine Boccaccio

Birmingham, Ala. — Bayer Properties said Tuesday that Scott Laslo has joined the company as VP asset management.

Laslo more recently served as VP/general manager and VP for Forest City Enterprises. His asset management role at Bayer will focus on value creation and oversight of the company’s growing portfolio of over 10 million sq. ft.

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