Inland Diversified announces JV acquisition of Vegas portfolio
Oak Brook, Ill. — Inland Diversified Real Estate Trust announced Monday the acquisition of a majority interest in a portfolio of six grocery/home-improvement-anchored retail properties located in Las Vegas.
The properties were acquired in a joint venture between a subsidiary of Inland Diversified and affiliates of the seller Territory Inc.; the joint venture valued the portfolio at about $296 million.
The portfolio totals 1.7 million sq. ft. and features anchors such as Walmart, Sam’s Club and Lowe’s Home Improvement. The specific properties are Centennial Center, Centennial Gateway, Eastern Beltway, Eastgate, Cannery Corner and Lowe’s Plaza.
“It isn’t very often a portfolio of this magnitude comes along,” said Barry Lazarus, president and COO of Inland Diversified. “We were attracted to the portfolio’s strength and mix of tenants, and as our due diligence progressed we felt the properties were a perfect fit with the demographics of their individual markets. We feel this portfolio is a great addition to Inland Diversified’s asset base.”
Eisenhower Square sees tenant additions
Savannah, Ga. — Brixmor Property Group announced the recent openings of a 34,103-sq.-ft. Save-A-Lot and a 1,000-sq.-ft. Maison De Macarons at Eisenhower Square, located in Savannah, Ga.
Also, a lease has been executed for an 8,640-sq.-ft. Generation One, a hospital-based, senior-related healthy aging program.
Brixmor, based in New York City, is the owner of Eisenhower Square.
Jones Lang LaSalle names COO, announces retail leadership
Atlanta — Jones Lang LaSalle announced Monday that it has promoted Kristin Mueller to COO.
The firm also announced the establishment of new leadership roles, including the promotion of John Bemis and Geno Coradini to Retail Market Lead in Atlanta/Southeast and Dallas/Southwest, respectively.
As the COO of Retail, Mueller will be responsible for executing the firm’s expanded services platform, ensuring consistency in standards across the firm’s shopping center portfolio as well as driving results and efficiencies across the business. She will continue to lead the business development team and will also oversee the Client Accounting, Property Management and Specialty Leasing departments.
John Bemis, formerly director of Leasing & Development, was promoted to Retail Market Lead for Atlanta/Southeast region and will oversee the JLL retail platform which includes tenant representation, landlord representation services including leasing, property management, accounting services and development across the region.
Geno Coradini was also promoted to the Retail Market Lead for Dallas/Southwest region and will have similar responsibilities as Bemis. He joined the firm in 2008, shortly after JLL acquired The Standard Group. With more than 15 years of retail real estate, he has extensive experience in field execution and corporate management at the regional and national level. Prior to joining Jones Lang LaSalle he was a managing director at FedEx Kinko’s and a divisional VP with Family Dollar Stores.
In addition to these promotions, the firm announced that Lew Kornberg will lead the Retail Tenant Representation business, working with the local Retail Market Leads to enhance tenant representation services.