REAL ESTATE

Free People to open first Hampton Roads store

BY Michael Fickes

Virginia Beach, Va. — Free People has signed a lease for 3,200 sq. ft. at the Town Center of Virginia Beach. The retailer plans to open its doors in the fourth quarter of 2014.

“Free People will be located on Main Street, in the first floor retail of the Armada Hoffler office tower,” said Gerald S. Divaris, chairman and CEO of Divaris Real Estate, which represented the landlord in the lease transaction. “Like the recently announced Anthropologie, Free People will be the first and only location of its kind to open in all of Hampton Roads, Virginia.”

The McDevitt Co. represented Free People.

The mixed-use Town Center is the core of the Virginia Beach Central Business District. Being developed by Armada Hoffler Properties, the project spans more than 17 city blocks and provides a mix of multilevel upscale retail, Class A office, luxury residential, The Sandler Center for the Performing Arts and an array of cages, restaurants and business hotels.

Other notable retailers in the Town Center include Brooks Brothers, LOFT, Origins, Cache’, Johnston & Murphy, Sunglass Hut, Men’s Wearhouse, Destination Maternity and Dick’s Sporting Goods.

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REAL ESTATE

Trademark expands Saddle Creek in Memphis suburbs

BY Michael Fickes

Fort Worth, Texas — Trademark Property Co. is managing the major expansion and renovation of Saddle Creek in the Memphis, Tenn., suburb of Germantown.

Demolition has commenced on 20,000 sq. ft. of existing space on the southwest side of Poplar Avenue and West Street, with work scheduled to begin soon on 40,000 sq. ft. of new retail space for that area.

Regarded as the first lifestyle center in the United States since opening in 1987, the net gain of 20,000 sq. ft. will bring the property total to 168,000 sq. ft. The expansion is scheduled for completion in the spring of 2015.

The project also includes remodeled building exteriors for Saddle Creek South and West and facade updates for Saddle Creek North. J. Jill and Talbots both opened in late May in new locations with a new tenant, Marmi Shoes, coming this fall between Vera Bradley and Madewell.
Trademark is also planning upgrades to amenities such as plazas, lighting, signage and wayfinding, as well as landscaping.

Saddle Creek is home to the premier collection of more than 40 fashion and specialty retailers including Anthropologie, Apple, Banana Republic, Brooks Brothers, Chico’s, Coach, Free People, J. Crew, kate spade new york, and Madewell.

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REAL ESTATE

Inland Real Estate Group names new CIO

BY Michael Fickes

Oak Brook, Ill. — The Inland Real Estate Group of Cos. has appointed Chong P. Huan chief information officer. He will direct all information technology initiatives for Inland and its member companies. In addition, Huan will serve as CEO of Inland Computer Services, Inland’s in-house IT and computer services department.

Huan most recently served as chief technology officer and head of infrastructure for Cole Real Estate Investments, where he was responsible for aligning IT strategy with business development, as well as strategic planning and information management to enable capital raising, acquisitions and growing shareholder value.

During his tenure there, he oversaw a shift to a cloud-based managed service model that improved efficiency and cost management. Under his leadership, the company was recognized in the 2013 Information Week 500 for business technology innovation.

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