Kite Realty begins renovation of Naples, Fla., center
Naples, Fla. — Kite Realty Group Trust has begun work on a $10 million renovation of the 85,497-sq.-ft. Kings Lake Square in Naples, Fla.
The renovation will demolish the center’s Publix anchor and construct a new 45,000-sq.-ft. new Publix. Additional work includes renovated shop facades new sidewalks, a new parking lot, site lighting and landscaping.
Publix will close this month and reopen the new store next spring. All other tenants will remain open during the renovation.
CBRE brokers sale of Houston-area center
Houston — CBRE’s national retail investment group has arranged the sale of Sheldon Forest Shopping Center in Channelview, Texas, east of Houston, on behalf of Weingarten Realty Investors.
Gerland’s Food Fair anchors the 97,380-sq.-ft. center. Major tenants include Family Dollar and Burke’s Outlet. Both Phase I and II of the center are 100% occupied.
Capcor Partners purchased the property for an undisclosed price.
Saint Petersburg Global signs for first Manhattan store
New York — Saint Petersburg Global Trade House, the oldest Russian book, music video, toy and souvenir retailer in the United States, has signed a lease for its first Manhattan location — in the NoMad neighborhood, according to Winick Realty Group, which represented the retailer.
The 10-year lease includes a 1,051-sq.-ft. ground floor and a 653-sp.-ft. mezzanine. The landlord, an entity owned and managed under a partnership controlled by The Feil Organization, was represented in-house.