Regency Centers to launch construction of East Washington Place
Petaluma, Calif. — Jacksonville, Fla.-based Regency Centers said it will begin construction of East Washington Place, a 378,000-sq.-ft. community center anchored by Target.
Located in Petaluma, Calif., the new development is strategically located at the intersection of two main arterial roads, East Washington Street and Highway 101, with daily traffic counts in excess of 92,000. Regency Centers will invest approximately $61 million into the project, which will create approximately 380 construction jobs and 720 permanent jobs.
The center will include a 138,324-sq.-ft. Target along with 121,000 sq. ft. of anchor space and 118,676 sq. ft. for junior anchors, small shops and office space. It is slated to open in summer 2013.
Casto names property manager
Columbus, Ohio — Casto announced that Bruce Engelhardt has joined the firm’s property management team where his primary focus will be on a retail portfolio totaling 1.8 million sq. ft. of shop space.
Most recently, Engelhardt was the group manager of the Open-Air Division at Jones Lang LaSalle.
Marcus & Millichap announces promotion
Dallas — Marcus & Millichap Real Estate Investment Services said it has named Jason S. Vitorino senior director of the firm’s National Retail Group in Dallas.
Vitorino joined Marcus & Millichap’s sales intern program in September 2003. He became an agent in April 2004. During his career, Vitorino has closed more than 200 transactions valued at over $660 million, according to the company.