REAL ESTATE

Three retailers to open at Cherry Hill Mall this spring and summer

BY CSA STAFF

Cherry Hill, N.J. — Philadelphia-based Pennsylvania Real Estate Investment Trust said that its Cherry Hill Mall property, located in Cherry Hill, N.J., will welcome three new retailers this spring and summer.

Lids Locker Room opened in March, and two shoe retailers, Traffic and Clarks, are slated to open this summer.

The 3,027-sq.-ft. Lids Locker Room is the only store of its kind in New Jersey and Pennsylvania. The 1,500-sq.-ft. Traffic store will be located in the J.C. Penney wing, and Clarks will open a new prototype at Cherry Hill Mall, the fourth to open to date, measuring 1,800 sq. ft.

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REAL ESTATE

Georgetown Co. acquires Old Navy Chicago flagship building for $23 million

BY CSA STAFF

New York City — Robert K. Futterman & Associates said that it represented buyer The Georgetown Co. in the acquisition of 35 North State Street, a 60,000-sq.-ft. building in Chicago, for $23 million.

The building is currently net-leased to Old Navy and serves as the retailers’ Chicago flagship.

“This was a rare opportunity for a buyer to acquire an iconic retail building in the heart of the city,” said RKF executive VP Ariel Schuster. ”State Street is a dominant retail corridor and is anchored by Macy’s and Block 37. Target will be opening a 124,000-sq.-ft. city store at the corner of State Street and Madison Street, which affirms the strength of this market,” he said.

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REAL ESTATE

Wilder Cos. announces hirings, promotions

BY CSA STAFF

Boston — The Wilder Cos. announced several new hires, including Howard A. West II, who joins the company as asset manager to assist in monitoring various properties’ financial and operating performance, act as a liaison to ownership groups on management and reporting issues, provide assistance on property acquisitions, and oversee daily operations for various shopping centers throughout the portfolio.

Diane E. Lichauer was named general manager for Settlers Ridge, a 500,000-sq-ft. shopping center in Pittsburgh that Trademark added to its management/leasing portfolio in December 2010.

Alison Galgay was promoted to senior leasing representative, focusing on specialty centers, urban properties and mixed-use developments within the Wilder portfolio.

Ryan Feinberg was promoted to leasing and marketing associate for Wilder. Based in the company’s Boston office, Feinberg will assist in all facets of retail leasing, trade show coordination and social media efforts.

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