REAL ESTATE

Simon launches retail innovation initiative

BY Michael Fickes

IndianapolisSimon Property Group has launched a new dedicated Simon Venture Group, a business that will invest in retail innovation, with a focus on opportunities that enhance the shopping experience.

Mikael Thygesen, chief marketing officer of Simon Property Group said: "We believe we have only scratched the surface on applying technology to the retail environment in innovative, interesting ways."

Simon Venture Group will invest in early-stage technology companies as well as high-growth companies. The Group will make a full range of venture capital investments from Seed investments to get started through Series A and B investments to build the company to Series C+ investments to shift growth and stay on top of competition.

J. Skyler Fernandes will lead the Simon Venture Group. He will identify, evaluate and make investments. Fernandes comes to Simon from Centripetal Capital Partners, a multi-stage venture capital fund. As a partner, he concentrated on consumer Internet, retail and high-tech with commercial applications.

In addition, Fernandes founded One Match Ventures, a seed fund focused on consumer Internet and high-tech companies. Fernandes gave the first TED Talk (Technology, Entertainment, Design Talk) on Venture Capital, entitled "Innovating the Financing of Innovation," and he leads a number of global initiatives, including the Missing Middle Initiative, launched at the World Economic Forum in Davos, which is focused on creating funds that invest $100,000 to $3 million.

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REAL ESTATE

Stanbery names partner for leasing and acquisitions

BY Michael Fickes

Bexley, Ohio Stanbery Development has named Marc Hays as a partner. He will focus on finding locations for new developments and acquisitions as well as leasing.

Hays joins Stanbery from DDR Corp., where h oversaw leasing and site feasibility analysis for acquisitions and investments primarily in the Northeastern, Midwestern and Western United States. During his 11-year career at the retail real estate investment trust, he attained senior-level experience in Brazil, Puerto Rico and specialty center leasing in the United States.

Hays will continue to work primarily from his home base in Cleveland.

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REAL ESTATE

Four new retailers sign into Fashion Valley

BY Michael Fickes

San DiegoSimon Property Group has announced that AllSaints, Pink, lululemon athletica and Free People plan to open stores at San Diego’s Fashion Valley in coming months.

British fashion house, AllSaints will open a 5,200-sq.-ft. space in late March. The international retailer now has 107 stores in eight countries.

PINK plans a July opening in a 5,500-sq.-ft. standalone store. This summer, lululemon athletic will open a 3,800-sq.-ft. store. Free People will follow along later this year.

In addition, Victoria Secret plans to expand its space, and Lorna Jane will re-locate.

Fashion Valley spans more than 1.7 million sq. ft. and offers more than 200 stores. Anchors include Neiman Marcus, Nordstrom, Bloomingdale’s, Macy’s and J.C. Penney.

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