Sembler to introduce new developments at ICSC Florida
St. Petersburg, Fla. — The Sembler Company will introduce the newest additions to its portfolio as the company participates in the International Council of Shopping Centers’ Florida conference Aug. 24-26 in Kissimmee.
As part of a strategic shift back to traditional grocery-anchored shopping centers, Sembler recently inked deals on two Florida centers: North Port Center, Heron Creek, a grocery-anchored neighborhood center in North Port, Sarasota County, Florida; and The Shoppes at Trinity Lakes in Pasco County, Florida.
North Port Center will feature a 42,000-sq.-ft. grocery store accompanied by 4,800 sq. ft. of retail shop space and three outparcels. The year-long construction schedule will commence in second quarter 2015.
The Shoppes at Trinity Lakes includes a 45,000-sq.-ft. grocery store accompanied by 15,000 sq. ft. of retail shop space and three outparcels. The project is in partnership with Adam Smith Enterprises.
“We are actively seeking shopping center acquisitions throughout the southeast U.S. and Puerto Rico,” said Sembler CEO Ron Wheeler. “These two developments were perfect additions to our active pipeline, and we’re excited to move forward with adding value for both the tenants of the centers and the local communities.”
With nearly three million sq. ft. in various stages of ground-up development, Sembler’s development portfolio is as robust as it has been in several years, according to Wheeler.
That includes two major new developments in northern Alabama: Midtown MarketPlace, a 135,000-sq.-ft. neighborhood shopping center in the city of Madison; and Town Madison, an 800,000-sq.-ft. regional shopping center within a 300-acre development that local officials called a “game-changer” for the Madison-Huntsville market.
RMC Property Group names VP leasing
Tampa, Fla. — RMC Property Group announced that Nicholas Roth has joined the company as VP leasing.
Roth joins RMC from Sandor in Indianapolis, where he was its U.S director of leasing. Roth also worked previously in landlord representation as director of leasing/Florida with Edens & Avant and as senior VP leasing/Florida with Equity One.
Cushman & Wakefield appoints new head of U.S. property management
New York — Cushman & Wakefield announced that Michael Prabhu has joined the firm as the U.S. head of Property Management.
Based in downtown Los Angeles, Prabhu’s focus will be on the strategic growth of the firm’s property management business in the U.S.
“Property Management is a critical part of our Investor Services platform,” said Shawn Mobley, U.S. Leader, Investor Services. “Michael’s experience with managing client relationships and providing unmatched customer service were critical factors in our selection process.”
Prabhu most recently was head of Property Management regionally for JLL. He has also held positions with Maguire Partners and Heitman Properties.