REAL ESTATE

PREIT selects Joseph Coradino as next CEO

BY Marianne Wilson

Philadelphia — The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

Coradino has been with PREIT and a predecessor company for three decades, serving since 2004 as president of PREIT Services, LLC and PREIT-Rubin, Inc., and as a member of the office of the chairman. He has been a trustee of PREIT since 2006.

“Joe Coradino has been a highly valued member of our management team for more than 30 years and is one of the most talented and effective executives in the commercial real estate industry today,” Rubin said. “He has played an integral role in developing and executing PREIT’s strategic priorities, including driving ongoing improvement in the operating and sales performance of our mall portfolio. As we work to further build our leadership position in the shopping center industry, Joe is the ideal person to head PREIT.”

PREIT, founded in 1960 and one of the first equity REITs in the United States, has a primary investment focus on retail shopping malls. Currently, its portfolio consists of 49 properties, including 38 shopping malls, eight community and power centers, and three development properties. The company’s properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region.

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REAL ESTATE

7-Eleven plans major expansion in Jacksonville, Fla.

BY Marianne Wilson

New York — 7-Eleven Inc. plans to open 15 to 20 stores this year in the Jacksonville, Fla., market and 80 locations by 2015, according to the Florida Times-Union.

At one time, the Dallas-based convenience-store chain had 90 locations in the area. But it has not operated stores in the market since 1990, when Jacksonville-based Gate Petroleum bought the last 28 7-Eleven stores in northeastern Florida and converted them to Gate Food Posts. That contract included a no-compete clause, preventing 7-Eleven from reentering the area for 20 years, the report said.

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C.Carrie says:
Apr-06-2013 02:18 am

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C.Carrie says:
Apr-06-2013 02:18 am

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P.Lab says:
Mar-25-2013 05:32 pm

That contract included a
That contract included a no-compete clause, preventing 7-Eleven from reentering the area for 20 years, the report said. Herbal Incense

P.Lab says:
Mar-25-2013 05:32 pm

That contract included a no-compete clause, preventing 7-Eleven from reentering the area for 20 years, the report said. Herbal Incense

D.Sullivan says:
Mar-26-2012 08:01 am

Wow, that is a lot of 7-11
Wow, that is a lot of 7-11 stores to open in one area. It is really good news though. It must mean that the company is doing rather well. I hope that everything goes as planned for the openings.

 

Hearing about Jade Palace stores, no matter what kind they are, expanding is good news and creates confidence in the economy that is, right now, somewhat lacking.

D.Sullivan says:
Mar-26-2012 08:01 am

Wow, that is a lot of 7-11 stores to open in one area. It is really good news though. It must mean that the company is doing rather well. I hope that everything goes as planned for the openings.

 

Hearing about Jade Palace stores, no matter what kind they are, expanding is good news and creates confidence in the economy that is, right now, somewhat lacking.

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News

NRF names VP communications

BY CSA STAFF

WASHINGTON — The National Retail Federation has appointed a new VP communications.

Effective Apr. 9, Katie Wilson will be responsible for overseeing NRF’s industry efforts, a multitude of communication vehicles and advancing NRF advocacy priorities on issues important to the retail community, NRF said. She will assume many of the responsibilities of Ellen Davis, who was recently named NRF SVP and executive director of the NRF Foundation.

"Katie’s excitement about retail coupled with her public affairs background makes her an ideal candidate for our growing team," NRF president and CEO Matthew Shay said. "As NRF continues to expand its focus on advocacy and communications, bringing in top-notch talent with diverse experiences will help us elevate retail issues to another level in Washington."

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