REAL ESTATE

Brixmor appoints new chief investment officer

BY Melonie Messina

New York — Brixmor Property Group named Michael Hyun as its new chief investment officer and as a member of the Company's Management Committee, effective Dec. 14. Hyun will be responsible for the strategic and day-to-day oversight of business development, portfolio management and capital recycling for Brixmor.

"Michael's capital markets and finance capabilities, coupled with his broad understanding of real estate dynamics, make him well-suited to oversee our portfolio management and acquisition teams. His proven transaction and diversified investment experience enhances our ability to source and evaluate strategic opportunities,” said Michael Carroll, CEO for Brixmor.

Prior to joining Brixmor, Hyun served as an executive director at Morgan Stanley in its Real Estate Investing group and at Greenstreet Capital Partners. Over the past 10 years at Morgan Stanley, he has been involved in more than $4 billion of transactions, both as a principal investor and investment banker. As an investor, Hyun evaluated and executed on a wide range of transaction types including equity and debt investments in individual assets, portfolios and public REITs. As a banker, his transaction experience includes M&A, asset sales, strategic advisory and issuance of debt, common and preferred equity.

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First Look: Nike’s new Michael Jordan showplace

BY Marianne Wilson

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Anyone who thinks Michael Jordan’s star may have dimmed in the 10-plus years since he retired from professional basketball, should think again.

Nike on Saturday, Oct. 24, in Chicago, debuts its first-ever store dedicated entirely to its Jordan Brand, and fans of the sports legend, along with sneaker enthusiasts, lined up for days in anticipation of the opening. Nike also plans to open Jordan Brand stores in additional locations, including New York, Los Angeles and Toronto.

The Chicago store is named after its address, 32 South State, in the city’s Loop district. But the main exterior signage is the brand’s signature “Jumpman” silhouette logo.

“We are privileged to not only lease space in our building to Nike’s first-ever dedicated Jordan Brand retail location, but also have the store be named after the property’s address,” said Melissa Gliatta, executive VP of Thor Equities, which also owns a number of additional properties in Chicago.

Jordan gave his Twitter followers a preview of the store, including the video above in his tweet: “No place like home. A look inside 32 South State, a retail experience with ‪@Footaction‬.

The spirit of Jordan is evident throughout the store, which feature products in all four of the brand’s categories: basketball, training, sportswear, and kids. The space has an urban industrial look and is accented with images of the athlete, including an oversized stylized mural. Shoes he wore on the court are displayed. A floor drawing features a six-finger hand, reflecting Jordan's six championship rings.

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Westfield adds tech talent to make mall digital

BY Mike Troy

Mall owner Westfield Corporation has created a new big data and analytics unit and made a key hire to oversee the important function.

Westfield named Raghav Lal as its new chief data and analytics officer to lead a newly established big data and analytics group that will be responsible for conceptualizing, developing and deploying the company’s data strategy. The move is a significant hiring investment to centralize the company’s wealth of data effectively, efficiently and safely for its customers and retailers alike, Westfield said in a statement.

“Westfield recognizes the critical importance of both physical and digital research, and is committed to understanding and protecting its big data, to create relevant, compelling and seamless end-to-end retail innovations and experiences,” the company said.

According to Steven Lowy, co-CEO of Westfield Corporation, the hiring of Raghav is part of a major initiative in the way the company collects, analyzes, and uses data across the business.

“We expect big data to have a major impact on how we manage our traditional functions of developing, leasing and managing our assets. The appointment (of Rahhav Lal) continues our increasing focus on the use of technology and is a further addition to the new skills we are bringing into the company.”

Lal will work closely with Kevin McKenzie, chief digital officer who also oversees Westfield Labs, and Denise Taylor, CIO who is responsible for the physical tech infrastructure in Westfield shopping centers. This combination of data, tech and infrastructure will usher a new wave of innovations, based on deep consumer insights, that will continue evolve the physical and retail space, according to the company.

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