REAL ESTATE

Cushman & Wakefield appoints new head of U.S. property management

BY Katherine Boccaccio

New York — Cushman & Wakefield announced that Michael Prabhu has joined the firm as the U.S. head of Property Management.

Based in downtown Los Angeles, Prabhu’s focus will be on the strategic growth of the firm’s property management business in the U.S.

“Property Management is a critical part of our Investor Services platform,” said Shawn Mobley, U.S. Leader, Investor Services. “Michael’s experience with managing client relationships and providing unmatched customer service were critical factors in our selection process.”

Prabhu most recently was head of Property Management regionally for JLL. He has also held positions with Maguire Partners and Heitman Properties.

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REAL ESTATE

Winick Realty Group NJ leases a pair of Jersey Mike’s locations in Bergen County, New Jersey

BY Katherine Boccaccio

New York — QSR sandwichchain Jersey Mike’s signed leases for two locations in Bergen County, New Jersey. Winick Realty Group NJ’s Gary Krauss acted as the brand’s exclusive broker in both transactions as Jersey Mike’s continues its aggressive expansion within its home state.

The sandwich shop leased 1,736 sq. ft. at 557 North Franklin Turnpike in Ramsey, New Jersey. The site, which formerly housed a TCBY, is expected to open by early September.

Jersey Mike’s also secured a location in Northvale, New Jersey, leasing 1,750 sq. ft. at 246 Livingston Street. The store sits in a newly constructed shopping center anchored by Shop Rite.

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REAL ESTATE

Kroger-anchored Lynnwood Place changes hands

BY Katherine Boccaccio

Jackson, Tenn. — Transwestern announced that it brokered the disposition of Lynnwood Place, a 96,666-sq.-ft. shopping center in Jackson, Tennessee. The seller was Columbia, South Carolina-based Edens, and the buyer of the Kroger-anchored retail center was Phillips Edison & Company.

Completed in 1986, Lynnwood Place encompasses 11.73 acres and is 89% eased to retailers including Kroger, Charter Communications Inc., Cato Fashions and Youfit Health Clubs.

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