REAL ESTATE

Jones Lang LaSalle Retail expands under new corporate banner

BY CSA STAFF

Las Vegas Jones Lang LaSalle Retail has broadened its retail rollout expertise under a new banner called Corporate Retail Solutions (CRS). Formerly known as Retail Outsourcing Services, the expanded client service team provides a full range of outsourced real estate services for its retail clients, managing both their new store rollout process and their existing store portfolios.

Jones Lang LaSalle, a financial and professional services firm specializing in real estate, is in its third year of building a robust and comprehensive service offering for retail tenants/occupiers following the firm’s acquisition of The Standard Group in 2008.

“Being able to provide an end-to-end lifecycle solution for all of our client’s real estate requirements is critical in today’s rapidly changing retail environment,” said co-lead and managing director of corporate retail solutions Joe Brady. “Retailers are facing increasing challenges as a result of a continuing volatile economy and they need our help now more than ever.” 

The team’s portfolio of clients includes financial institutions, sporting goods and electronics retailers, automotive, grocery and furniture stores. Over the past 18 months, the practice has nearly doubled in size and tripled the number of clients it serves.

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REAL ESTATE

Rooftop solar program awarded top honors by ICSC

BY CSA STAFF

Las Vegas Developers Diversified Realty Corp. announced that the International Council of Shopping Centers (ICSC) presented the company with the “Best-of-the-Best” award during its annual conference in Las Vegas, called RECon, for the company’s innovative rooftop solar panel program.

“Best-of-the-Best” awards honor and recognize the top examples of shopping center design and development, sustainability, marketing, and community service worldwide. Developers Diversified was awarded top honors in the marketing category.

Developers Diversified entered into a partnership last year with solar energy services provider, SunEdison, for the rights to deploy solar energy systems at over 200 shopping centers throughout the United States. Between December 2009 and February 2010, solar panel arrays were activated at Developers Diversified shopping centers in New Jersey.

The active projects in New Jersey are located at Nassau Park Pavilion in Princeton; Hamilton Marketplace in Hamilton; and Route 22 Retail Center in Union. These projects total over 143,000 sq. ft. of available roof space for solar panels and will generate approximately 1.4 million kilowatts (kWh) of solar energy in the first full year of operation. Over 20 years, the sites will generate approximately 26 million kilowatt-hours, enough energy to power over 2,400 homes for one year.

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Regency Centers wins best retail project award at Pacific Coast Builders

BY CSA STAFF

Los Angeles Regency Centers, a national owner, operator and developer of grocery-anchored and community shopping centers, has been honored with a Gold Nugget Award of Merit from the Pacific Coast Builders Conference (PCBC) for its Brea Marketplace shopping center in Brea, Calif. The project won the nomination in the best retail project category among other companies in the United States and Canada.

The project was redeveloped by Regency and designed by Perkowitz+Ruth Architects with completion in 2009. The Award of Merit places Regency Centers in the running for a Grand Award at the Gold Nugget Luncheon on June 10 in San Francisco.

Brea Marketplace is a property with more than 352,000 sq. ft. of retail space and one of Target’s first prototype podium stores.

“We were gratified to be selected along with Perkowitz+Ruth Architects on this extensive redevelopment project,” said John Hayes, Regency Centers’ VP construction. “During the redevelopment, we worked with all of our tenants who remained open during the two construction phases. The center’s tenant mix features national and regional retailers along with large anchor tenants including Sprouts Farmers Market and 24 Hour Fitness.”

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