Dunkin’ Donuts expands in China
Canton, Mass. As part of its greater China expansion strategy, Dunkin’ Donuts has opened its first two locations in Shenzhen, Guangdong Province.
The first store is located in the Luohu District, while the second is in the Nanshan District.
Additionally, a third shop is expected to open mid-October in the Futian Central District.
Shaanxi Stellerich Restaurant Management Co. Ltd., Dunkin’ Donuts’ franchise partner in Guangdong, is set to open more than 150 shops in Guangdong over the next 10 years. The company is expected to open two additional locations in Shenzhen by the end of this year.
Phillips Edison acquires Bridgewater Falls
Cincinnati Phillips Edison’s Strategic Investment Fund said Tuesday it has acquired Bridgewater Falls, a 600,000-sq.-ft. regional shopping center located in Fairfield Township, Ohio.
The shopping center, which is anchored by TJ Maxx, Best Buy, Bed Bath & Beyond, Pet Smart, Dick’s Sporting Goods, Michaels and Target, was acquired with all cash.
“This is a significant purchase not only due to the fact that it is one of the few REO assets to close this year but also because very few companies have the ability to close something of this magnitude at a time of severe market contraction,” says David Birdsall, chief development officer for Phillips Edison.
The nearly 54 acres sold also includes ground leases to J.C. Penney, Chili’s, Max & Erma’s and Huntington Bank.
Colliers names investment execs
Los Angeles Colliers International said Tuesday that Jeff Albee, Jeff Gould and Chris Itule have joined the company, specializing in office, retail and multifamily investment properties throughout the San Fernando Valley.
Based out of the company’s Encino office, Albee will serve as senior VP and Gould and Itule will serve as senior associates.
The investment sales team, named the Corridor Investment Group, previously worked in Sperry Van Ness’ Calabasas office, where they consistently ranked among the top advisors nationwide, according to the company.