REAL ESTATE

Douglas Elliman team complete leasing of iconic Harlem Co-op

BY Katherine Boccaccio

New YorkWith the signing of Capital One at 700 St. Nicholas Avenue, on the northeast corner of 145th Street, the Douglas Elliman Retail Group team of Faith Hope Consolo, chairman, Joseph Aquino, executive VP and Arthur Maglio have repositioned the retail profile of Hillview Towers, comprising the block-front that stretches along West 145th Street between St. Nicholas and Edgecombe Avenues in the Sugar Hill section of Harlem.

With the addition of the bank, they have arranged approximately 25,000 sq. ft. of space for seven tenants that include Sugar Hill Medical Plaza, Metro PCS, Smart-Aid Pharmacy, Unity Wines, W Dental andDry Clean NYC.

Hillview Towers is a full-service cooperative with 236 units. Built in 1964, it was part of an early Harlem renaissance and has long represented a strong residential base in the area.

"This transaction is the proverbial icing on the cake," said Consolo. "Our goal was to bring quality retail tenants to a celebrated co-op and with this last lease, we have achieved it."

Consolo, Aquino and Maglio represented both the property owner, Hillview Towers, and each of the tenants in the transactions, encompassing more than 25,000 sq. ft. of space.

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REAL ESTATE

High-end retailers give Beverly Center the nod

BY Katherine Boccaccio

Los Angeles —A round-up of new additions to Los Angeles shopping destination Beverly Center have further elevated the shopping experience at the Bloomingdales- and Macy’s-anchored center.

Uniqlo opened on Oct. 10, introducing a Los Angeles flagship for the fast-fashion retailer in 30,000 sq. ft. of space that is the largest storefront in the Uniqlo portfolio.

Salvatore Ferragamo re-opened on Oct. 10, reflecting the recent evolution of the brand, spearheaded by creative director Massimiliano Giornetti. The redesign features both the men’s and women’s ready to wear collections, accessories, jewelry, and small leather goods; it is located on level 7 near the Macy’s wing.

True Religion Brand Jeans also re-opened in October, debuting a new state-of-the-art omnichannel kiosk shopping system exclusive to the flagship Beverly Center store, the brand’s only new concept store in California.

Bloomingdale’s completed its second-floor renovation in September, featuring the first completed floor of a multi-floor renovation project for the Beverly Center’s anchor store. The new second floor boasts visual updates and an expanded selection of cosmetics, fine jewelry, ladies shoes, handbags and fashion accessories.

A Versus Versace Pop-Up opened in September with a limited run extending through early 2015.

Giuseppe Zanotti opened in August with 1,300 sq. ft. of retail space; this is the Italian shoe designer’s second LA outpost. Unlike the nearby Beverly Hills location, this store features full looks from Zanotti’s debut fall ready to wear collection, handbags and jewelry.

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REAL ESTATE

The Villagio at Cinco Ranch lifestyle center changes hands

BY Katherine Boccaccio

HoustonMarcus & Millichap announced the sale of The Villagio at Cinco Ranch, an 111,963-sq.-ft. lifestyle shopping center in Katy, Texas. The asset had a list price of $31,290,000; however, the terms of the sale of were not released.

Derek Hargrove, senior associate, and Justin Miller, vice president investments, had the exclusive listing to market the property on behalf of the seller, The Marcel Group.

“At the time of the sale, The Villagio at Cinco Ranch was 89% occupied,” said Miller. Built in 2007 on almost eight acres, the property is located at 22764 Westheimer Parkway. Tenants include Italian restaurant 3 Olives, The Public House, Charter Title Company, Steeplechase Pediatric Center, Keller Williams and De Vero Salon & Day Spa.

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