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Seritage Growth Properties Appoints Interim CFO

by Katie Lee

New York City — Seritage Growth Properties, a national owner and developer of 170 retail, residential and mixed-use properties, has named John Garilli, an existing consultant to the company and former CEO of New York REIT, as interim chief financial officer. He will assume this position on a full-time basis upon Amanda Lombard’s departure, effective January 14, 2022. “We are pleased to have an executive of John’s caliber to step into the CFO role,” says Andrea Olshan, president and chief executive officer of Seritage Growth Properties. “John has been engaged …

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Demonstration: Smarter Cleaning for Retail, Grocery & Restaurant Facilities

by Sarah Daniels

  The Dec. 1 “Smarter Cleaning for Retail, Grocery & Restaurant Facilities” demonstration, hosted by Retail & Restaurant Facility Business, focused on important topics for any facility interested in cleanliness. Kaivac’s vice president of business development, Mike Perazzo, also makes note of easy ways to promote employee satisfaction (in a time when there is a shortage of labor) and making cleaning easier (in a time when hygiene has never been more important). Check out some of the important topics and their video timestamps below, or click to hear Perazzo talk …

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Trademark Completes Initial Renovation of Zona Rosa Mixed-Use Center in Kansas City

by Katie Lee

Kansas City, Mo. — Trademark Property Company, mixed-use investor, developer and operator, completed the initial renovations of Zona Rosa, a 1.1 million-square-foot mixed-use town center located in Kansas City’s Northland. “By carefully considering each amenity addition and renovation, we’ve reinvigorated the overall Zona Rosa experience to be a vital part of the community,” says Terry Montesi, CEO of Trademark Property. Zona Rosa improvements included tearing down a building to create open green space featuring outdoor seating, lawn games and event activities, including The Rink at Zona Rosa, an outdoor ice rink available …

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Post-COVID Capital

by Katie Lee

— By Carty Davis — The evolving restaurant facility, changing priorities in CAPEX and capital through and post-COVID.   As regulations and mandates end, owners and operators continue to adapt to a post-COVID society. Declining COVID cases and vaccine availability on a large scale show hints of the virus fading into the past, which is encouraging to business owners and the overall economy. While COVID may be on the decline, consumer behaviors, preferences and the distribution systems that support these evolving consumer tastes are here to stay. The quick-service restaurant …

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Levin Management Promotes Senior Property Manager to Portfolio Manager

by Katie Lee

North Plainfield, N.J. — Denise Ciaravino has been promoted to portfolio manager at Levin Management Corporation (LMC), according to Erika Toscani, vice president of property management. Ciaravino joined the North Plainfield, N.J.-based commercial real estate services firm in 2006 as property manager and was named senior property manager in 2009; for the past decade she has overseen the day-to-day operation of a shopping center portfolio totaling approximately 1 million square feet. In her new role as portfolio manager, Ciaravino will also be the single point of contact for a 9-property, …

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Washington Prime Group Files for Chapter 11 Bankruptcy Amid Pandemic-Related Struggles

by Katie Lee

Columbus, Ohio — Washington Prime Group, an Ohio-based owner-operator of regional malls and shopping centers, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. WPG cited insurmountable operating challenges tied to the COVID-19 pandemic as the primary catalyst behind the move. Against that backdrop, both CNBC and Reuters reported that many of the company’s tenants were unable to pay rent at various points in time over the last 16 months as public health mandates and lockdowns decimated foot traffic throughout the brick-and-mortar …

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Powerhouse Acquires Exterior Services Management Company DENTCO

by Katie Lee

Crowley, Texas — Powerhouse, a national construction, facilities maintenance and rollout service provider, has acquired DENTCO®, a national exterior services provider headquartered in DeWitt, Mich. The 44-year-old company offers a complete suite of all-season property management solutions addressing exterior services issues for active as well as idle facilities. This deal is Powerhouse’s second major transaction, resulting in it becoming one of the four largest national managed services companies in the exterior space. As a result of the partnership, all Powerhouse Exterior Services Management (ESM) programs will be powered by DENTCO, …

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Kimco Realty and Weingarten Realty Plan to Merge

by Katie Lee

Jericho, N.Y., and Houston — Kimco Realty Corp., one of North America’s largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets, and Weingarten Realty Investors, a grocery-anchored Sun Belt shopping center owner, manager and developer, have entered into a definitive merger agreement under which Weingarten will merge with and into Kimco, with Kimco continuing as the surviving public company. The transaction will create the preeminent open-air shopping center and mixed-use real estate owner in the country. The combined company is expected to have a pro …

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William S. Taubman Promoted to President & COO of The Taubman Company LLC

by Katie Lee

Bloomfield Hills, Mich. — The Taubman Company LLC has promoted William S. Taubman to president of the company; he will also retain his role as chief operating officer. Taubman will continue to report to Robert S. Taubman, chairman and chief executive officer, while leading the company’s development, center operations, leasing and strategic communications functions. “Billy grew up in our business and is a creative, extremely well-respected thought leader within the retail real estate industry,” says Robert Taubman. “He has deep and productive relationships throughout retailing, and particularly with our luxury …

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Retail in the COVID Era

by Katie Lee

— By Gary Glick — Top 3 lease provisions negotiated by landlords and tenants.   Almost a year into this pandemic, retailers are still facing uncertainty in light of the recent spike of COVID-19 cases accompanied by a new wave of lockdowns and regulations across the nation. Eager to protect themselves from ever-changing governmental restrictions and closures, retail tenants, whether traditional retailers, restaurants, fitness centers or theaters, are now requesting a variety of specific lease provisions in almost every newly negotiated retail lease. In addition, prior to the COVID-19 outbreak, …

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