property management

Los Angeles — Target Corporation has installed solar panels on the roof of its Napa, Calif., store, marking the 500th Target location to utilize solar energy. In 2015, Target had set a goal to install solar panels on 500 of its stores by 2020, and now it has achieved that goal with this Napa, Calif., installation. “At Target, we’re committed to making our operations even more sustainable to create a better future for our guests, team members and the planet,” says John Leisen, vice president of property management at Target. “Ambitious …

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— By TJ Durham — Four keys to successful property management.   Often flying under the radar, a trusted property manager is among the most valuable assets a retail owner can have in its corner. The role goes far deeper than landscape and curb appeal — it also includes managing the finances and operations of the asset, creating a budget and working within that budget to hire contractors for routine maintenance, fit-outs and overseeing basic improvements on the property. The ability to rely on a professional who can seamlessly maximize …

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Chattanooga, Tenn. — CBL Properties has made significant year-end progress on its strategy to transform its properties through redevelopment and the addition of new uses. In 2019, CBL completed a dozen projects totaling approximately 650,000 square feet, with an additional five projects totaling approximately 490,000 square feet currently under construction. Each redevelopment plan is unique and customized based on market demand. Strategies range from repurposing expansive parking fields to add new uses such as hotels, restaurants and self‑storage facilities to backfilling anchor vacancies with exciting concepts that resonate with today’s …

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Cincinnati — Phillips Edison & Company (PECO), an internally-managed real estate investment trust (REIT) and one of the nation’s largest owners and operators of grocery-anchored shopping centers, has released its insights on the top shopping center trends to watch in 2020 as part of ICSC’s New York Deal Making event. As experience continues to drive success, retailers are finding new and innovative ways to make it more fun to shop in-store. Moreover, the increasing demand for custom experiences is leading to a rise in the number of boutique specialty concepts …

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Reading, Pa. — Ambius, the global leader in creating enhanced commercial spaces and North America’s largest interior landscape organization, has acquired Marshall Gardens of Lake Oswego, Ore., and Glenn’s Greenery of Ft. Lauderdale, Fla. These acquisitions expand the Ambius presence in the Pacific Northwest and Florida markets to better serve a growing customer base, and further cement Ambius as the nationwide provider of interior landscapes. The deals were finalized in August and September, respectively; terms were not disclosed. Marshall Gardens was founded in 2009 by Abigail Marshall and Patrick Alexander. …

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Philadelphia — Global commercial real estate services firm Cushman & Wakefield has welcomed food, beverage and hospitality industry veteran Chef Michael Traud, J.D., Ed.D., to its national Specialty F&B, Entertainment & Hospitality Consulting team. In his new role as specialty food & beverage project management director, Traud will focus on food hall development, operations and programming, strategic restaurant curation, and music and special events procurement for real estate owner and investor clients across the U.S. He will be based in Philadelphia and will work directly with consulting team leaders Phil …

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Chicago — Pinstripes, Inc., a best-in-class experiential dining and entertainment concept, has formed a partnership with Simon Property Group that includes new leases for three future locations within the Simon portfolio, in addition to its existing Clearfork development in Fort Worth, Texas (pictured), and a minority equity investment in Pinstripes. The parties have also identified several potential Pinstripes locations at various Simon assets throughout the United States, all to be announced at a later date. Pinstripes currently has 10 locations throughout the U.S., with three new openings slated for 2019 …

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Chicago — A new wave of urban, experiential and independent retail concepts catering to changing consumer demands has led to the rise of 100 “Cool Streets” across the U.S. and Canada, according to a report released earlier this mo nth by global real estate services firm Cushman & Wakefield. The firm’s Cool Streets of North America report explores what’s driving the rise of the hottest retail districts across the U.S. and Canada. It outlines the top 20 Cool Streets in depth: Portland (whole city); Austin (whole city); Denver (whole city); …

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Roseville, Minn. — Fifty years after it first opened, Rosedale Center plans to significantly expand the center by redeveloping a part of the property to create new housing, a hotel, a grocery store and other new retail space. JLL, Rosedale’s management team, will soon submit formal plans to the City of Roseville, Minn., to begin the process of review and permits for the proposed expansion. The company hopes to begin initial construction work next year on what will be a phased project. “Rosedale Center is a very successful shopping and …

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Kissimmee, Fla. — Southeast Centers has secured a new lease for Chipotle Mexican Grill’s first Florida location offering drive-thru service at Rolling Oaks Commons, an approximately 155,547-square-foot power center in Kissimmee, near Orlando in Central Florida. The new drive-thru concept, dubbed ‘Chipotlanes,’ was announced by the Newport Beach, California-based eatery in 2017 and initially rolled out to 10 locations. The new restaurant at Rolling Oaks Commons is expected to open in November and is part of Chipotle’s plan to establish “a few dozen more Chipotlanes in 2019,” an initiative intended …

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