Strategy

New York – Dallas-based SRS Real Estate Partners said it has negotiated an 11,825-sq.-ft. lease on behalf of Party City for a new store in the Penn Plaza district of Manhattan.

The store, at 223 West 34th St., is scheduled to open in second quarter 2012. This will be the party goods retailer’s second location in Manhattan.
 

Irvine, Calif. -- Hanley Investment Group Real Estate Advisors said that Jonathan Selznick has joined the company as VP.

Selznick was most recently a broker with Pacific Commercial Investments in Irvine, Calif., where he advised clients on the acquisition and disposition of retail investment properties.
 

New York -- Brixmor Property Group announced the addition of 11 leasing associates and the appointment of three Brixmor leasing representatives during the past six months with its focus on increasing the portfolio’s occupancy, further strengthening retailer relationships, and enhancing revenue from ancillary programs.

Denver -- Marcus & Millichap Real Estate Investment Services announced that Jon Hendrickson has been named associate director of the firm’s National Retail Group in Denver.

Hendrickson joined Marcus & Millichap’s sales intern program in 2004, became an agent in 2006 and was promoted to senior associate in 2009.
 
 

Delray Beach, Fla. -- Indianapolis-based Kite Realty Group said Thursday that Republic of Couture will open an 8,000-sq.-ft. store at Delray Marketplace, located in Delray Beach, Fla. The new store is slated to open in November.

Delray Marketplace is a 270,000-sq.-ft. center anchored by Franks Theatres, Max’s Grille and Publix.

Pleasanton, Calif. -- Safeway Inc. reported Thursday that net income for the first quarter rose to $81.6 million, from $25.1 million in the year-earlier period.

Sales edged up 2.4% to $10 billion, from $9.8 billion last year. Same-store sales were flat.

“We continue to believe sales will grow as our new marketing initiatives take hold," said Steve Burd, chairman and CEO.

Mexico City -- A Wall Street Journal report on Thursday said that the Mexico’s Ministry of Public Functions – the country’s public-sector watchdog – will investigate new-store permits secured by Wal-Mart’s Mexico division, Wal-Mart de Mexico.

The agency is looking for misconduct on the part of federal government employees in granting construction and other permits, according to WSJ.

HOUSTON — Mid-price apparel retailer Stage Stores has named Steven Lawrence as chief merchandising officer, effective April 30. Lawrence will be responsible for all of the merchandising, planning and allocation functions of the company.

Prior to joining Stage Stores, Lawrence spent 11 years with JCPenney, where he was most recently co-chief merchant EVP GMM men’s, kids and home.

SECAUCUS, N.J. — More than a year after The Children's Place Retail Stores began its search for a new chief financial officer, following the departure of EVP finance and adminstration, Susan Riley, the company has named Steven Baginski as CFO. He will report to Eric Bauer, COO. 

The Minnesota Vikings are in need of a new football stadium and Target’s EVP property development John Griffith sees a proposed downtown Minneapolis location as one element of a larger development and revitalization plan. That’s according to the Minneapolis Star Tribune, which reported this week on Griffith’s involvement in the downtown deal-making and track record at Target. Read the article here.