Gordon Brothers Group hired Gary M. Talarico as president and CEO reporting to its board of directors. In his new position, Talarico will lead the growth of the firm’s global platform of integrated operating and capital solutions. He will be based at Gordon Brothers’ global headquarters in Boston, Mass.
Michael Frieze will assume the role of chairman of the board of directors.
Talarico has more than 25 years of experience in investment banking and private investments. Previously, he served as managing partner with Cora Street Partners, an advisory boutique. He also worked as managing director with Sun Capital Partners and as managing director of the bank group and head of global corporate finance with Deutsche Bank in Japan. He began his career at Lehman Brothers Kuhn Loeb.
“We look forward to having Gary join our leadership team. His invaluable experience as an investment banker, coupled with his international expertise and overall business acumen, will enable him to take over the daily management, growth and integration of our various divisions and affiliates,” said Frieze in a statement. “In particular, Gary has an impressive record of successfully building businesses, including the recruitment and retention of top talent, which will help us strengthen our current business portfolio and expand into new areas that complement our businesses and provide additional services to our clients and transaction partners.”
Flip Flop Shops Hires Brokers for Major Expansion Initiative
Flip Flop Shops hired Podell Real Estate Advisors LLC and Friedman Retail Consulting to handle it expand in the United States. Flip Flop Shops, which operates approximately 40 stores in the U.S., Canada, Guam and the Caribbean, plans to open 236 new locations globally by 2013.
“This partnership is proof that we’re serious about growing the Flip Flop Shops brand,” said Flip Flop Shops CEO Darin Kraetsch in a statement. “Not only will [this] bring Flip Flop Shops to even more prominent retail locations, but it will also help bring the brand to new areas of the United States through [the firms’] established relationships with national and independent landlords.”
More than 65 new shops are already in the development pipeline. Flip Flop Shops looks for stores that range from 500 square feet to 900 square feet at open-air lifestyle centers, regional malls, airports and theme parks.
IKEA to Open New Store in Colorado
IKEA will open a 415,000-square-foot store in Centennial, Colo. The store will feature the largest commercial rooftop solar installation in Colorado and the largest commercial geothermal system in the state.
Charter Realty to Lease Connecticut Shopping Center
Chase Enterprises appointed Charter Realty & Development Corp. as leasing agent for Cross Roads Plaza in Waterford, Conn. The 300,000-square-foot center features tenants including Lowe’s, BJ’s, Bob’s and Regal Cinema.
Englewood Completes Retail Projects in Chicago and Washington
Englewood Construction completed work on five retail projects in the Chicago and Washington, D.C. areas. The projects included:
- A 21,654-square-foot hhgregg store in Joliet, Ill. Herschmann Architects designed the project;
- A 33,115-square-foot Sears outlet in Naperville, Ill. Sears Holding Management served as the architect;
- A Mrs. Fields/TCBY Yogurt at Westfield Old Orchard in Skokie, Ill. BVM Associates LLC designed the project;
- A 20,000-square-foot American Girl boutique at the Tyson’s Corner Center in McLean, Va. Jacobs served as the architect on the project;
- A Calvin Klein Underwear store in downtown Washington. Projekt WJCA served as the architect on the project.
Ross Dress for Less, Buffalo Wild Wings to Open at Park West Village in North Carolina
CASTO signed two new leases at Park West Village, a 100-acre mixed-use project in Morrisville, N.C. Ross Dress for Less committed to 25,000 square feet of space. The retailer plans to open in the first quarter of 2012. Buffalo Wild Wings, the other new tenant, will open in December.
Compare Supermarket to Anchor Renovated Clifton Plaza in New Jersey
Compare Supermarket signed a lease with Levin Management Corp. for a 16,000-square-foot store at Clifton Plaza in Clifton, N.J. Barry Greenberg, of Levin Management, represented the landlord in the transaction.
The lease coincides with Levin’s renovation/expansion of the 80,127-square-foot property. The project includes an updated façade and common areas, the addition of a pad site and a 16,000-square-foot expansion.
Victorinox Swiss Army to Open New Stores Stateside
Victorinox Swiss Army will open five new stores in the United States throughout the remainder of 2011. The stores will open at The Westchester in White Plains, N.Y.; at Copley Place in Boston; at the Mall at Short Hills in Short Hills, N.J. and at Beverly Center in Los Angeles. In addition, an existing store located on Prince Street in New York City will move to 114 Wooster Street. The stores will feature a new design, including geometric oak wood walls, bold graphics and unique logo treatments.
Carpenter & Co. Breaks Ground on Braintree Redevelopment
Carpenter & Co. and BayNorth Capital broke ground on a redevelopment project in Braintree, Mass. The companies will renovate and redevelop an existing 374-room hotel, formerly known as Sheraton Braintree, into a 204-room Hyatt Place. They will also add a 32,000-square-foot retail building, and renovate an existing restaurant and a 6,000-square-foot retail pad, currently under lease to Jared, The Galleria of Jewelry.
Cambridge Savings Bank, Brookline Bank and Bank Rhode Island will finance the project.
Matanky Gets Indiana Assignment
Matanky Realty Group has been appointed as the exclusive sales and leasing agent for a strip center located at 2050 East Highway 20 in Michigan City, Ind. The strip center contains 45,000 square feet of space.
TJ Maxx Commits to Maine’s Aroostook Center Mall
TJ Maxx signed a lease with Sitt Assett Management for a 25,000-square-foot store at Aroostook Center Mall in Presque Isle, Maine. Charter Realty & Development Corp. negotiated this transaction.
Regency Signs Multiple Deals in Austin, Texas
Regency Centers signed deals with six new retailers totaling 15,000 square feet at its centers in Austin, Texas. Pure Barre signed a 1,750-square-foot lease at North Hills Town Center. The deal brings the center’s occupancy to 100 percent. In addition, CommUnity Care signed a 4,000-square-foot lease, Mr. Gatti’s Pizza signed a 2,373-square-foot lease, T-Mobile signed a 2,060-square-foot lease and Gamerz signed a 2,177-square-foot lease at the Hancock Center. Brush 32 Dental Wellness Center signed a 2,784-square-foot deal at the Market at Round Rock.
Federal Brings New Retailers to Bethesda Row
Federal Realty Investment Trust signed leases with five new retailers at Bethesda Row in Bethesda, Md. The deals included The North Face, Nando’s Peri Peri Chicken, Tandoori Nights, Secolari Oil and Vinegar and Puree Juice Bar.
Handler Real Estate Creates Third Party Management Division
Handler Real Estate Org. launched a third party management division. Ken Abelson, newly appointed senior managing director of third party properties, will lead the group. Abelson has more than 35 years of experience in the leasing and management of commercial and residential properties. Prior to joining Handler Real Estate, he served as director of marketing with Brokers Services Holding LLC/William B. May.
Sierra Opened a San Diego Office to Serve Western United States
Sierra U.S. opened a new regional brokerage office in San Diego, Calif. The office will serve Western United States. Anthony Villasenor will head the new office. Villasenor has 30 years of experience in landlord and tenant representation and shopping center development.
Other Notable News
KPMG LLP appointed Greg Williams as national leader of its building, construction and real estate practice. In his new position, Williams will be responsible for the strategic direction and growth of the practice, which serves REITs, real estate investment funds, engineering and construction firms and hospitality companies. Previously, he served as national account leader and regional leader for KPMG’s real estate, private equity and financial services practices.
SRS Real Estate Partners hired Michael Weiss as senior vice president in its South Florida office. Weiss has more than 26 years of experience in commercial real estate, including brokerage, acquisitions, development and landlord representation.
Vista Equities Group leased 3,100 square feet of retail space at Phase I of its LaCenterra at Cinco Rach development in Katy, Texas. The leases included a 1,880-square-foot deal with Another Round and a 1,225-square-foot deal with the Flip Flop Shops. Donna Keith, vice president of leasing with Vista Equities Group, represented the landlord in the transactions.
Centro Properties Group signed leases throughout its U.S. properties with tenants including Bailey’s Bar & Grille, Gentler Times Stitching, Citi Trends, GameStop, Signature Cuts, Verizon Wireless, New Holland, AT&T, Ulta, El Patron Mexican, P.A.K. Nails, J&M Sports, Smart Simple Wireless, Wild Oats Brewery, Upstate Gold Exchange, Big Tiny’s Restaurant, Pure Sleep, Curves for Women, Taylor & Unique, Little Caesar’s Pizza, Mojitos Restaurant, Willets Sew and We Buy Stuff.
Gadinsky Real Estate negotiated new leases at the Market Square in West Kendall, Fla., including deals with Chase Bank, Haircuttery, Metro PCS, Miami Center for Dentistry, Pink and White Nails and Menchie’s. The retailers plan to open in 2012.
The Brooklyn Chamber of Commerce appointed David Muessel to its real estate and development committee. Muessel serves as managing director with CPEX Real Estate.