REAL ESTATE

JLL names vice chair of New York retail brokerage

BY Michael Fickes

New York — JLL has named Robert Gibson vice chairman of New York retail brokerage. He will be responsible for the growth of retail tenant and agency leasing in New York.

Most recently, vice chairman with Cushman & Wakefield Inc.’s Midtown Manhattan office, Gibson has more than 26 years of retail leasing experience in New York and nationally.

Gibson has represented H&M, Ferragamo USA, Capital One Bank, Burton Snowboard Company, Citibank N.A., Filene’s Basement, Sixty USA, Ricoh Corporation and Verizon Wireless in the New York metropolitan area and Salvatore Ferragamo, Burton Snowboards, Furla, and Trina Turk nationally.

Property owners he has represented include Fisher Development Associates, LLC, Northwestern Mutual Investment Management Company, Alchemy Properties, Jamestown Properties, Digby Management, Colby Capital, and Marx Realty & Improvement Corp.

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REAL ESTATE

Inland acquires Mokena Marketplace in Mokena, Ill.

BY Michael Fickes

Oak Brook, Ill. — Inland Real Estate Corporation has announced the acquisition of Mokena Marketplace in Mokena, Ill., an affluent suburb located within the Chicago metropolitan area for $13.7 million in cash.

The 49,000-sq.-ft. Mokena Marketplace has leased approximately 76% of its space to PetSmart, Party City, Sally Beauty and Lee Nails, plus a free-standing Chase Bank on a ground lease and five developable out parcels. The community shopping center is shadow anchored by J.C. Penney and a new Meijer’s grocery store scheduled to open this summer, which provide outstanding regional drawing power to the center.

Mokena Marketplace is located approximately 30 miles southwest of downtown Chicago in the Mokena/Frankfort/New Lenox regional submarket, along the busy U.S. Route 30 retail corridor. The corridor is home to major national big-box retailers including Kohl’s, Target, Lowe’s, Wal-Mart and Menards among others.

The center’s surrounding population has a strong demographic profile, with average household income of $110,000 and population of 96,400 within a five-mile radius.

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REAL ESTATE

SRS opens Toronto Office

BY Michael Fickes

Dallas — SRS Real Estate Partners, in partnership with Cresa Toronto, has opened an office in Toronto, Canada. It is the company’s first Canadian office and second international location. Jamie Grossman, managing principal for Cresa Toronto will oversee the new office, while SRS has brought in Lindsay Ryder as first VP for SRS.

Grossman has more than 16 years of experience in the commercial real estate industry. He will manage and oversee activities in the SRS Toronto office while remaining the managing principal of Cresa Toronto. At Cresa, Grossman focuses on assisting companies across North America in the analysis and development of detailed office and industrial real estate strategies.

Ryder joins SRS with more than eight years of commercial real estate experience assisting tenants as well as developers and landlords.

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