Phillips Edison acquires Arlington, Texas, center
Phillips Edison & Company has expanded its presence in Texas with the acquisition of Seville Commons, a center anchored by Walmart Neighborhood Market in Arlington.
Other tenants at the 113,472-sq.-ft. center include Chipotle, La Madeleine, GNC, Merto PCS, and Chase Bank.
“We are excited to further expand our footprint in the suburban Dallas region,” said David Wik, senior VP of acquisitions at Phillips Edison. “This acquisition supports our goals to provide first-class grocery-anchored shopping centers to add tremendous value to the communities in which they serve and to our shareholders.”
Seville Commons gives PECO a total of 12 centers in the Lone Star State.
Swinehart named CFO at RPAI
Retail Properties of America has promoted Julie M. Swinehart to the positions of executive VP, chief financial officer, and treasurer. She previously was chief accounting officer.
Swinehart had worked at the prestigious accounting firms of Arthur Andersen and Deloitte & Touche before joining RPAI’s accounting department in 2008. In subsequent years, she rose to senior VP/corporate controller and then to chief accounting officer.
“Julie has been a tremendous asset to the company for the last 10 years, and I could not be more pleased to announce her promotion,” stated Steve Grimes, president and chief executive officer.
Swinehart’s new role will include the oversight and execution of all of RPAI’s financial activities, including internal and external reporting, capital markets, investor relations, internal audit and treasury.
West Elm in Canadian expansion
A division of Williams-Sonoma is expanding its footprint north of the border.
The home furnishings retailer will open its second Toronto store, in the Yonge-Eglinton neighborhood, on Thursday, Feb. 15 at 10 a.m. The 16,295-sq.-ft. store will support seven Toronto-based makers and designers, offering customers an array of locally made products alongside the brand’s assortment of home furnishings and décor.
The store will also offer Williams-Sonoma’s cross-brand design consultation program Design Crew, which pairs customers with experts who can provide design and installation services. The new location comes three months after the launch of Williams-Sonoma’s e-commerce websites in Canada.
Each West Elm location features design details inspired by the local architecture and landscape. The cash-wrap at West Elm North Toronto is inspired by the waterfront view of Toronto and depicted in a hand-painted art panel of the skyline featuring iconic local landmarks and historic buildings alongside modern skyscrapers. A mirror image of the skyline sits beneath it in front of the cash-wrap, paying homage to Lake Ontario.
West Elm operates more than 100 stores as well as e-commerce websites in the United States, Australia, Canada and the U.K., ships internationally to customers around the world, and has unaffiliated franchisees that operate stores in the Middle East, Philippines and South Korea, and stores and e-commerce websites in Mexico.