Georgetown Co. acquires Old Navy Chicago flagship building for $23 million
New York City — Robert K. Futterman & Associates said that it represented buyer The Georgetown Co. in the acquisition of 35 North State Street, a 60,000-sq.-ft. building in Chicago, for $23 million.
The building is currently net-leased to Old Navy and serves as the retailers’ Chicago flagship.
“This was a rare opportunity for a buyer to acquire an iconic retail building in the heart of the city,” said RKF executive VP Ariel Schuster. ”State Street is a dominant retail corridor and is anchored by Macy’s and Block 37. Target will be opening a 124,000-sq.-ft. city store at the corner of State Street and Madison Street, which affirms the strength of this market,” he said.
Wilder Cos. announces hirings, promotions
Boston — The Wilder Cos. announced several new hires, including Howard A. West II, who joins the company as asset manager to assist in monitoring various properties’ financial and operating performance, act as a liaison to ownership groups on management and reporting issues, provide assistance on property acquisitions, and oversee daily operations for various shopping centers throughout the portfolio.
Diane E. Lichauer was named general manager for Settlers Ridge, a 500,000-sq-ft. shopping center in Pittsburgh that Trademark added to its management/leasing portfolio in December 2010.
Alison Galgay was promoted to senior leasing representative, focusing on specialty centers, urban properties and mixed-use developments within the Wilder portfolio.
Ryan Feinberg was promoted to leasing and marketing associate for Wilder. Based in the company’s Boston office, Feinberg will assist in all facets of retail leasing, trade show coordination and social media efforts.
JCPenney earns diversity accolades
PLANO, Texas— JCPenney announced that has been named the number one retailer on DiversityInc’s annual ranking of "Top 50 Companies for Diversity," which recognizes leading organizations for best practices in diversity management. This is the second consecutive year that the company has earned its place on the list, moving up 11 spots to No. 35 overall. The company also snagged the seventh position on DiversityInc.’s "Top 10 Companies for Latinos."
"With more than 150,000 associates working across more than 1,100 stores and units, our success depends on our ability to deliver on the increasingly diverse needs of the more than half of America’s families that shop jcpenney each year," said Myron Ullman, III, chairman and CEO of JCPenney. "Infusing diversity throughout every aspect of our business – from our multicultural marketing to associate recruiting and retention programs to leveraging our strong relationships with suppliers – has been a key driver to achieving associate engagement levels within the top quartile of all U.S. companies and to continually improving on our industry-leading customer service."
DiversityInc surveyed 535 companies with more than 1,000 employees that participated in this year’s survey.