DDR signs anchors for Seabrook Commons in N.H.
Beachwood, Ohio — DDR Corp. has announced he lease-up and construction of Seabrook Commons, a 380,000-sq.-ft. power center slated to open in the summer of 2014 in Seabrook, N.H.
Anchored by Wal-Mart, Dick’s Sporting Goods, PetSmart, Michaels, Ulta, Five Below and Panera, the center will open 95% leased.
The trade area has a population of 251,000 people and an average household income of approximately $90,000.
The opening of Seabrook Commons next year will mark DDR’s second-consecutive year of developing a power center from the ground up. In May of this year, the company opened Belgate Shopping Center, a 900,000-sq.-ft. center in Charlotte, N.C., anchored by Ikea, Wal-Mart, Marshalls, Ulta, Old Navy, PetSmart, Cost Plus World Market, Hobby Lobby and Shoe Carnival.
JLL expands into Phoenix
Phoenix — Jones Lang LaSalle is expanding its retail brokerage platform into Phoenix. Tyson Switzenberg will lead the firm’s new Phoenix practice. Senior Associate John Reva and Associate Trask Switzenberg will join him.
All three have come to JLL from SR Commercial Real Estate and have brought with them a strong roster of local and national clients. In their new roles, they will be responsible for developing and executing strategies that serve the full range of clients’ real estate needs, while developing new business opportunities for current and future investor and retailer clients.
JLL names new Midwest property management lead
Chicago — Jones Lang LaSalle Retail has announced the expansion of its Midwest platform with the addition of Sylvia Payette as the new Midwest property management lead.
Based in the firm’s Chicago headquarters, Payette will partner with Larry Kilduff, the Midwest retail market lead to maximize client’s property values and net operating income by developing and executing strategic operational efficiencies. She will also oversee the firm’s 11.5-million-sq.-ft. portfolio of shopping centers under management in the Midwest.
Payette joins JLL from Inland American Retail Management, where she served at regional property manager/VP of property management. A 20 year industry veteran, she is experienced in developing and managing regional offices, financial reporting, negotiating, steering legal matters, business accounting, and commercial associations.