REAL ESTATE

Crosland Southeast announces plans to develop Flowers Crossroa

BY Staff Writer

Clayton, N.C. — Charlotte, N.C.-based Crosland Southeast announced Monday it plans to develop a Harris Teeter-anchored shopping center in Clayton, N.C. Flowers Crossroads will be part of the master-planned Flowers Plantation development. Construction on phase one of the 125,000-sq.-ft. center is slated for a late fall 2012 launch, with an anticipated opening date of fall 2013.

Flowers Crossroads will be a 28-acre multi-use site anchored by the first Harris Teeter grocery store in Johnston County, just southeast of Raleigh, N.C.

The shopping center will feature extensive green space and gathering areas, two small shop buildings and three outparcels.

The 53,000-sq.-ft. Harris Teeter store is expected to have a drive-up pharmacy window and express lane ordering. The store will also be built with green building features such as a white reflective energy efficient roof, motion detection lighting, low-flow faucets, non-ozone depleting refrigerant as well as heat reclamation and energy management systems.

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REAL ESTATE

Simon names chief investment officer

BY Staff Writer

Indianapolis — Simon Property Group announced the appointment of Matthew Lentz as executive VP and chief investment officer.

In this newly created position, Lentz will be responsible for SPG’s investment activity including the company’s international investments. Lentz, who will be based in Simon’s New York office, will serve as a key member of SPG’s executive team and report directly to David Simon, SPG’s chairman and CEO.

Lentz previously was a managing director and portfolio manager at PointState Capital in New York.

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REAL ESTATE

New retail center to be developed in prime San Francisco district

BY CSA STAFF

Dallas — The Carlyle Group and Cypress Equities announced plans to develop a 250,000-sq.-ft., multi-level retail center on Market Street in the popular shopping district of San Francisco.

The one-acre site, formerly known as CityPlace, will be rebranded Market Street Place. The project is fully entitled, groundbreaking is slated for the fall of 2012 and the grand opening is scheduled for the first quarter of 2015.

The six-level urban redevelopment project will feature an exterior facade of translucent glass, up to 270 ft. of frontage, as well as ceiling heights up to 18 ft. and large floor plates of up to 45,000 sq. ft.

Cypress will develop the project and Carlyle is the lead equity partner. SRS Real Estate Partners will serve as the retail leasing representative for Market Street Place.

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