Home furnishings retailer expanding
West Elm is expanding in Texas.
The retailer, a division of William-Sonoma, will open its first Fort Worth location this summer. The 10,502-sq.-ft. store will be located at West 7th Fort Worth, an open-air center in the heart of the ‘Cultural District” in Fort Worth, Texas.
The West 7th development encompasses nearly five blocks of pedestrian-friendly urban elements. It is managed by Vestar.
West Elm operates 87 stores in the United States, Australia, Canada and the U.K. The new Fort Worth location will feature a selection of Texas-based makers and designers who will sell their products in the store's fall assortment of modern furnishings and décor as part of the west elm Local program and a design lab will offer West Elm’s style services.
"The Cultural District is truly special, and West 7th is proud to be an integral part of this community," said Peter Jacobsen, senior VP at The Woodmont Company, which is responsible for the center’s leasing. "We believe the commitment by West Elm and our upcoming announcements of other new retailers and restaurants is further testament to the neighborhood's evolution into one of the top urban, walkable shopping and entertainment districts in Texas."
Walmart-shadowed center in Orlando up for sale
Sand Lake Corners North, a 151,487-sq.-ft. community center in Orlando, Florida, has been put up for sale. Transwestern is serving as broker for the property at 8115 – 8379 S. John Young Parkway.
According to Transwestern, tenants with long-term leases fill more than 90% of the center, which is located in Orlando’s tourist corridor and is surrounded by corporate campuses, including the SouthPark Center that comprises 2.9 million sq. ft. of office space.
Built in 1999 and remodeled in 2005, Sand Lake Corners North’s main tenants are Old Time Pottery, PetSmart, and Dollar Tree. It is shadow-anchored by Wal-Mart Supercenter and Lowe’s Home Improvement Store.
JLL expands Houston team with three new hires
Three experts have joined JLL’s brokerage team in Houston. Donna Kolius, Pierce Owens, and Kaylie Walker will be focusing on multi-market dispositions, national portfolio strategies, and sale leasebacks, which will help expand JLL’s disposition business.
Kolius, formerly the senior VP of CBRE's Portfolio Services group, has been named executive VP. The 33-year real estate veteran has negotiated the sale of real estate portfolios totaling $4.2 billion on behalf of real estate investment trusts, Fortune 100 companies, financial institutions. and international retailers.
Owens joins JLL as senior VP. Throughout his 15-year career, he has negotiated the sale of real estate portfolios valued in excess of $2 billion for corporations, private equity firms, financial institutions and real estate investment trusts. He recently was first VP at CBRE Portfolio Services.
Walker, who comes to JLL from CBRE, has been added to the JLL team as an associate. She brings to the firm experience in the sale of national real estate portfolios on behalf of Fortune 500 companies, real estate investment trusts and private equity firms.
"The addition of this dynamic team will take our Houston platform to the next level and complement our leasing and tenant representation services in the multi-markets," said Mark Raines, senior VP and retail lead, JLL Houston.