REAL ESTATE

Coco Fruit to open at Cherry Hill Mall

BY Staff Writer

Cherry Hill, N.J. — Philadelphia-based Pennsylvania Real Estate Investment Trust said that Coco Fruit will open a 180-sq.-ft. kiosk in the Macy’s wing of Cherry Hill Mall, located in Cherry Hill, N.J.

The company also announced that Chicken Now has opened in the mall’s food court, in a 441-sq.-ft. location.

In 2012, Cherry Hill Mall has welcomed The Art of Shaving, Henri Bendel is opening this summer, and additional will be announced shortly, including an upscale home furnishing retailer, according to PREIT.

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REAL ESTATE

SRS Real Estate announces new hires

BY Staff Writer

Dallas — SRS Real Estate Partners announced two new hires in marketing for the Phoenix and Mobile, Ala., offices.

Susan Riddle and Kelly Anderson have joined the team as marketing coordinators and will be responsible for executing the national and local marketing strategies.

Riddle comes to SRS from Rowland Constructors where she was the marketing coordinator/executive assistant to the managing partner. Anderson joins SRS from Pilot Catastrophe where she served as an independent contractor for Allstate Insurance.

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OPERATIONS

Best Buy CEO Brian Dunn resigns

BY Katherine Boccaccio

Minneapolis — In a surprise announcement, Best Buy Co. said Tuesday that CEO Brian Dunn has resigned from the company. Company director G. Mike Mikan has been named interim CEO. Richard Schulze, the founder of Best Buy, continues to serve as chairman.

The change was a “mutual agreement” that new leadership was needed, Best Buy said in a statement, and there were no disagreements or specific problems related to the electronic retailer’s operations, financial controls or procedures A committee of directors has been created to search for a new CEO.

“I have enjoyed every one of my 28 years with this company, and I leave it today in position for a strong future,” said Dunn.

Dunn’s announced departure comes only two weeks after Best Buy unveiled its intentions to close 50 of its U.S. big-box stores and open 100 smaller-format mobile stores.

Best Buy last month posted a $1.23 billion net loss for its fiscal 2012, its first annual loss in more than two decades, as sales rose less than 1%.

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