REAL ESTATE

Major mixed-use project for Conway, Ark.

BY Michael Fickes

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Montgomery, Ala. — Jim Wilson & Associates and Conway Development Corporation have announced the development of Central Landing, a 150-acre mixed-use project with retail, office, residential and hospitality components, in Conway, Ark.

Conway City officials estimate the project will create an additional $2 billion in retail sales and $34 million in additional sales taxes for the city over a 10-year period.

The site plan indicates that the development will feature a lifestyle component anchored by large retail stores. Specialty stores, restaurants, offices and multifamily components will round out Central Landing. The retail phase of the project will be about 750,000 sq. ft.

Jim Wilson & Associates is a privately owned real estate company specializing in shipping centers, residential real estate investments, offices, condominiums, hotels and mixed-use developments.

Conway Development Corporation is a Conway agency that promotes the industrial and economic growth and development of the City of Conway.

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REAL ESTATE

RKF arranges three NYC leases for Carlo Pazolini

BY Michael Fickes

New York — RKF has arranged three long-term leases, totaling 13,055 sq. ft., in Manhattan for Carlo Pazolini, the European shoe and accessories brand. RKF represented Carlo Pazolini in each transaction.

The first store is in the Meatpacking District at 410 West 14th Street and spans 5,000 sq. ft., with 2,500 sq. ft. on the ground floor and another 2,500 sq. ft. in the basement. The location has opened for business. RKF represented the landlord Amcojor Realty Corp.

The second store, at 555 Madison Avenue, is in the Plaza District. It consists of 4,895 sq. ft. with 3,056 sq. ft. on the ground floor and the balance in the basement. Cushman & Wakefield represented the landlord, Rodney Corporation in the transaction.

The third store at 1131 Third Avenue on the Upper East Side is 3,160 sq. ft. of ground floor space. Vornado Realty Trust, the landlord, represented itself.

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REAL ESTATE

The Forum in Wilmington, N.C., sells for $24.7 million

BY Michael Fickes

Wilmington, N.C. — Marcus & Millichap Real Estate Investment Services has arranged the sale of The Forum, a 105,000-sq.-ft boutique retail center in Wilmington, N.C. The $24,680,000 sales price equates to $233 per square foot.

Marcus & Millichap’s Fort Lauderdale office represented the seller, the developer of the property, Swain & Associates, as well as the buyer, L&B Realty Advisors LLP, a pension fund. Swain & Associates will maintain its offices at The Forum and continue to handle leasing responsibilities.

The property serves an affluent neighborhood with an average annual household income of $115,000.

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