REAL ESTATE

Phillips Edison-ARC names CFO

BY Michael Fickes

Cincinnati — Devin I. Murphy has joined Phillips Edison-ARC Shopping Center REIT Inc. (www.phillipsedison-arc.com) as CFO, treasurer and secretary.

“With over 25 years of experience in the real estate investment industry, including executive leadership positions with Morgan Stanley and Deutsche Bank Securities Inc., Devin brings significant experience to the company,” said Jeffrey Edison, co-chairman of the board and CEO.

Murphy is an advisory director of Hawkeye Partners, a real estate private equity firm headquartered in Austin, Texas and Trigate Capital, a real estate private equity firm headquartered in Dallas. He is a member of the Urban Land Institute, the Pension Real Estate Association and the National Association of Real Estate Investment Trusts.

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REAL ESTATE

WindStar takes Papa Murphy’s to Lamar Crossing

BY Michael Fickes

Arlington, Texas — Papa Murphy’s has leased a 1,340-sq.-ft. space at Lamar Crossing Shopping Center in Arlington, Texas, according to WindStar Properties.

The Take ‘N’ Bake pizza shop, which prepares fresh pizzas for customers to bake at home, has 1,350 shops in 38 states and ranks as the fifth largest pizza company in the United States.

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REAL ESTATE

$6 million redevelopment brings Whole Foods to Greenway Town Center

BY Michael Fickes

Portland, Ore.Regency Centers Corp. has announced a $6 million redevelopment of Greenway Town Center, a 93,000-sq.-ft. neighborhood center in Tigard, Ore., a suburb of Portland. Among the center’s enhancements, Whole Foods Market will open a 37,500-sq.-ft. anchor store in 2014.

The redevelopment will include a new exterior façade with cedar wood accents, upgraded architectural components, parking lot improvements and new site lighting, landscaping and signage.

In addition, Regency’s greengenuity program to reduce the environmental impact of developing and operating shopping centers will incorporate a number of sustainable elements at the center: energy-efficient lighting, an upgraded storm water retention system and water-efficient landscaping.

Existing stores will remain open during the redevelopment, slated to begin in August.

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