Cedar Shopping Centers Inc. hired Phillip R. Mays as CFO, effective June 13. Mays will succeed Lawrence E. Kreider, who will serve as a consultant to Cedar through the end of the year.
Mays has 19 years of experience in finance and accounting, including experience with REITs. Prior to joining Cedar Shopping Centers, he served as vice president and chief accounting officer with Federal Realty Investment Trust. Over the course of his career, he also worked at CRIIMI MAE Inc. and at Ernst & Young LLP.
“We are delighted to be able to announce that Phillip Mays will be joining our company as CFO,” said Leo Ullman, CEO of Cedar, in a statement. “We believe his background and solid financial experience will further strengthen the company’s financial operations and capabilities. He brings to our company an extraordinary history of quality, experience and capability in our industry. Phillip is expected to be a critical member of the company’s team as we execute on our previously-announced business plan for enhancing the quality of our portfolio and our operating results in the coming years. We also acknowledge the four years of dedicated serve to our company by Larry Kreider and the opportunity to be able to benefit from his counsel in the coming months.”
Kimco’s David Henry Elected ICSC Chairman for 2011-2012
ICSC elected David B. Henry as its chairman for the 2011-2012 term. He will succeed William S. Taubman, COO of Taubman Centers Inc.
Henry serves as president, CEO and vice chairman of Kimco Realty Corp. He has 30 years of experience in the capital markets industry. Over the years, he has contributed to ICSC’s educational programs, including the University of Shopping Centers and the debt workout seminars. Henry also serves on the board of the ICSC Foundation.
“David Henry is an exceptional choice, given his strong institutional and financial background, coupled with his prominent place in the shopping center industry,” said Michael P. Kercheval, president and CEO of ICSC. “He will be a great asset to ICSC and the shopping center industry during this pivotal point of recovery in the economic cycle.”
ICSC Presents Service Awards, Scholarships at RECon
ICSC presented a number of awards during the recent RECon conference in Las Vegas.
ICSC presented Developers Diversified Realty with The Albert Sussman International Community Support Award for 2011 for its “Giving Children Hope” campaign at the Buena Park Downtown Shopping Center in Buena Park, Calif. The campaign collected non-perishable food to feed 1,047 local children.
Wolfgang R. Bays, CEO of Brune Consulting GmbH, Lawrence E. Kilduff, president of The Kilduff Co., and Michael E. Stevens, executive vice president of retail leasing with Forest City Enterprises, received ICSC Trustee’s Distinguished Service Award. The award recognized ICSC members who have made special contributions to the industry.
Devony Jackson, of Cleveland, Ohio, received the Mary Lou Fiala Fellowship for 2011. Over her one-year fellowship term, Jackson will pursue a project designed to benefit and promote the retail real estate industry. Jackson is currently a retail leasing associate with Forest City Enterprises.
Jared Toothman, of Columbia Business School, and Ben Zamzow, of Boise State University, were awarded the Charles Grossman Graduate Scholarship for 2011. The award will provide each recipient with $10,000 in academic scholarship. The scholarship is available to graduate students who are members of ICSC and want to pursue a career in retail real estate.
Michael Bowen, of the University of Georgia, received the Schurgin Family Foundation Scholarship, while Michael Arnovitz, of the University of Cincinnati, received the Schurgin Family Entrepreneurial Scholarship. Bowen and Arnovitz each received a $5,000 scholarship to help continue their education and prepare them for a career in retail real estate.
Jones Lang LaSalle Appoints CEO of Corporate Solutions Business
Jones Lang LaSalle appointed Tod Lickerman as CEO of its Americas corporate solutions business. In his new position, Lickerman will be responsible for leading the corporate solutions business and maximizing opportunities to develop new innovations for tenants. Previously, Lickerman served as CEO of the commercial solutions group.
At the same time, Stuart Hicks, who previously served as CEO of corporate solution, will become president of the strategic clients group. He will focus on integrating client solutions and creating stronger executive relationships at client businesses. Prior to his tenure at Jones Lang LaSalle, Hicks worked at JMB Realty Corp. and at Spaulding & Slye.
“The corporate marketplace is a challenging and competitive environment and appointing Tod to this new role will ensure that our services not only meet, but exceed, the needs of our clients,” said Peter Roberts, CEO of Jones Lang LaSalle Americas, in a statement. “This move also allows Stuart to leverage his two decades of experience to focus directly on solving client needs.”
General Growth to Renovate Hulen Mall in Fort Worth
General Growth Properties will renovate Hulen Mall, a 940,000-square-foot mall in Fort Worth, Texas. The project will include new porcelain tile flooring, new soft seating areas, new directional signage, new lighting fixtures, a new coat of paint, the addition of a 22,000-square-foot restaurant plaza, a renovated food court, a new family restroom area, escalator enhancements and an upgraded energy management system. General Growth plans to complete the renovation within a six-month period. During that time, the mall will remain in operation, with the work taking place after mall hours.
Colliers Appoints National Director of Retail
Colliers International hired Mark Keschl as national director of retail. In his new position, Keschl will lead new client pursuits, oversee the group’s best practices and recruit new talent. He will be based in Collier’s Four Lauderdale, Fla. office.
Prior to joining Colliers International, Keschl served as principal with Millennium Retail Partners. In the past, he has also held in-house real estate positions with OfficeMax Inc. and Toys “R” Us.
In a separate announcement, Colliers International South Florida hired Alan Sperling as a commercial associate. Prior to joining Colliers, Sperling worked at Brenner Real Estate Group. While there, he specialized in working with large banks and asset managers on distressed assets.
C&W Appoints Matthew Winn U.S. Retail Services Leader
Cushman & Wakefield appointed Matthew Winn as senior managing director and U.S. retail services leader. Winn will be based in the firm’s Atlanta office and will work closely with the U.S. retail services team, the corporate occupier and the investor services group to help guide strategic initiatives for retail tenants and institutional owners. Previously, Winn served as managing director with Cushman & Wakefield’s retail consulting group.
CNL Commercial to Lease Volusia Square in Daytona Beach, Fla.
Cole Real Estate Investments appointed the retail brokerage services division of CNL Commercial Real Estate as the leasing agent for Volusia Square, a 228,139-square-foot shopping center in Daytona Beach, Fla. Cole acquired the center from Retail Planning Corp. in December 2010. Its tenants include Hobby Lobby, hhgregg and T.J. Maxx.
Simon Signs Leases Throughout the Country
Simon Property Group signed leases with Christian Louboutin, Rimowa, Panerai, Hublot and Coach Mens at The Forum Shops at Caesars in Las Vegas< Nev. In addition, Burberry, Cartier, St. John, Ermenegildo Zegna, Gucci, Versace and Nike expanded their occupancy at the center.
Simon also signed leases with Zegna Outlet, G by Guess, Crocs, Bijoux Terner, Express and Coach Mens Factory at Sawgrass Mills in Sunrise, Fla. Some of the retailers already operate at the center, while others will open later this summer.
In a separate transaction, Ann Taylor signed a lease to open its new concept store at Simon’s Town Center at Boca Raton in Boca Raton County, Fla. The chain’s new concept features a more discernable fashion point of view and offers customers a more intimate shopping experience in a boutique-like setting.
Party City, Gap Sign Leases in Tri-State Region
Party City signed a lease with Starrett Development LLC for a 12,707-square-foot store at 670 Columbus Ave. in New York City. Patrick A. Smith and Matt J. Ogle, of SRS Real Estate Partners, represented the tenant in the transaction. Amira Yunis and Jared Lack, of Newmark Knight Frank, represented the landlord.
In addition, SRS represented 125 Main Street Associates LLC in a 17,448-square-foot lease with the Gap at 125 Main St. in Westport, Conn. Patrick A. Smith, Christa Minogue and Erin Grace served as the brokers in the transaction.
DSW to Open at Chicago’s Sullivan Center
DSW Shoe Warehouse Inc. signed a lease with Joseph Freed and Associates LLC for a 26,000-square-foot store at the Sullivan Center in Chicago, Ill. The retailer plans to open its doors in the spring of 2012. The lease brings retail occupancy at the center to 77 percent.
Other Notable News
ALDI opened a 20,000-square-foot store at Westfield Chicago Ridge in Cook County, Ill.
National Amusements’ Cinema de Lux opened a 20-screen movie theater at Ridge Hill in Yonkers, N.Y.
NAI James E. Hanson has been appointed as the exclusive sales agent for 12-01 River Road, a 2,307-square-foot retail building in Fair Lawn, N.J. The property contains a drive-through and 12 parking spaces. Darren M. Lizzack will handle this assignment on behalf of NAI James E. Hanson.
Pennsylvania Real Estate Investment Trust hired Peter Elliott and Amy MacLaren as directors of retail leasing. In his new position, Elliott will direct leasing efforts for Exton Square Mall in Exton, Pa. and The Gallery at Market East in Philadelphia, Pa. MacLaren will be responsible for leasing Dartmouth Mall in Dartmouth, Mass., Jacksonville Mall in Jacksonville, N.C., Magnolia Mall in Florence, S.C. and Patrick Henry Mall in Newport News, Va. Prior to joining PREIT, Elliott served as a senior executive with Charter Realty & Development. MacLaren was a senior executive with Liz Claiborne. They both have more than 20 years of leasing experience.
The Shopping Center Group hired Ray Jones as leasing agent and tenant representative and Jonathan Lindsey as tenant representative and investment sales associate. Jones and Lindsey will be based in the firm’s Birmingham, Ala. office. Prior to joining the Shopping Center Group, Jones worked for Coldwell Banker Commercial. Lindsey worked for Southpace Properties.
Coyote Management L.P. hired Michael Carey as general manager for Lakeshore Mall in Gainesville, Ga. Prior to joining Coyote Management, he worked as assistant general mall manager with CBL & Associates. He has more than 9 years of experience in retail real estate.
The Lightstone Group signed renewal leases with two retailers at the 25th Street Shopping Center in Easton, Pa. Radio Shack signed a three-year renewal on a 2,510-square-foot space. Long John Silvers signed an eight-year renewal on a 1,728-square-foot space.