REAL ESTATE

Edens names former Lowe’s exec as CIO and managing director

BY Staff Writer

Columbia, S.C. — Edens announced that Joyce Vonada has joined the company as chief information officer and managing director, charged with establishing a team positioned to deliver innovative technology solutions that empower Edens’ employees, enrich customers’ shopping experiences and create a connection between their centers, retailers and communities.

"Today, we know that over 80% of shoppers are using social media and mobile devices to gather information and share reviews and comments before they ever visit our retail centers. Retailers must be where their shoppers are and participate by delivering personal, relevant, and engaging experiences across the entire path to purchase," said Terry Brown, CEO, Edens.

Prior to joining Edens, Vonada served as senior VP IT business solutions at Lowe’s Cos., overseeing significant investments in technology to empower retail associates with the tools they need to improve customer service and make it simple for customers to engage on their terms whether in store, online or mobile.

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REAL ESTATE

Agree Realty announces re-tenanting and disposition of Borders assets

BY Staff Writer

Farmington Hills, Mich. — Agree Realty Corp. said it has executed two leases and completed a disposition of the company’s remaining assets that were formerly leased to Borders.

The company has executed a lease with HomeGoods for the building formerly occupied by Borders in Monroeville, Pa. HomeGoods, a TJX Cos. banner, will occupy the space effective third quarter of 2013.

Agree also closed on the sale of a 21,000-sq.-ft. single-tenant property formerly leased to Borders located in Columbus, Ohio. The property was sold for approximately $1.7 million. Also, Agree entered
into a lease with the City of Lawrence for the former Borders location in Lawrence, Kan. Rent is anticipated to commence during the fourth quarter of 2012.

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REAL ESTATE

Regency Centers upgrades Carriage Gate

BY Staff Writer

Tallahassee, Fla. — Jacksonville, Fla.-based Regency Centers has announced the completion of two new anchor leases and the renovation of Carriage Gate, a 78,583-sq.-ft. neighborhood center, located in Tallahassee, Fla.

New to the market, Trader Joe’s will open a 13,000-sq.-ft. store in 2013. In addition, Regency secured a long-term lease with existing anchor T.J. Maxx, which was formerly subleasing the 25,600-sq.-ft. space. Built in 1978, the center will be renovated with a new exterior façade and awnings, plus the parking lot will be reconfigured for improved traffic flow and additional parking.

Tenants will remain open during construction, which will begin in January 2013. As part of Regency’s greengenuity program to reduce the environmental impact of developing and operating shopping centers, the project will incorporate basic sustainable elements such as recycling building materials and employing environmentally friendly paint and coatings.

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