Strategy

Houston -- Wulfe & Co. announced that Bob Sellingsloh has been named president of the company.

Taryn Sims has been named president of Wulfe Management Services, a commercial real estate property management firm affiliated with Wulfe & Co.

Ed Wulfe, founder, announced the firm’s new top management structure which will be effective January 1, 2011. Wulfe will assume the position of chairman and CEO of the companies, maintaining his full time day-to-day activities with both organizations.

Detroit -- X Team, an international alliance of retail real estate advisors, has announced a partnership between Detroit X Team Partner Stokas Realty Advisors and Detroit-based Bieri Co., resulting in the formation of Stokas Bieri Real Estate.

SBRE specializes in site selection for retailers nationwide and offers additional services, including project leasing, disposition of excess properties, restructuring, market analysis and legal services. 

Chevy Chase, Md. -- Steuart Investment Co. said that Giant Food has signed a lease to anchor a mixed-use project slated for development in Washington, D.C.

The project, called 360º H Street, is a nearly 290,000-sq.-ft., LEED-certified development and features street-level retail topped by 215 rental units. Torti Gallas and Partners, Inc. of Silver Spring is the architect. 

Plano, Texas -- J.C. Penney reported a better-than-expected increase in third-quarter profit Friday, crediting controlled costs and positive response to its newest exclusive brands, which include Liz Claiborne and MNG by Mango, and its Sephora in-store cosmetic boutiques.

The chain posted a profit of $44 million in the period ended Oct. 30, compared with $27 million a year ago. Total sales increased 0.2% to $4.19 billion, up from $4.18 billion in the third quarter last year. Same-store sales rose 1.9%.

Miramar Beach, Fla. -- New Balance announced that it opened its first factory store in Northwest Florida at Silver Sands Factory Stores on Thursday.

The 4,825-sq.-ft. store offers New Balance shoes and apparel for women, men and children. New Balance Factory Store is located near Swarovski at the east part of the center.

“We chose Silver Sands because we wanted to open in a high-performing center that has a great portfolio of brands,” said Stephen Dix, general manager of retail operations for New Balance.

Northbrook, Ill. -- Pine Tree Commercial Realty announced it has acquired Loch Leven Plaza in the Orlando, Fla. suburbs, expanding Pine Tree’s portfolio to include the state of Florida.

The company purchased the Publix-anchored shopping center in Mt. Dora, Fla., on Nov. 5. Pine Tree will be handling the property management and leasing for the center.

Publix occupies 54,340 sq. ft. at the new plaza and opened last May. The center, which was completed in March, is 99% leased.

Santa Barbara, Calif. -- Investec announced it has raised $130 million for acquisition of grocery- and drug-anchored centers located in the coastal region of California.

Portland, Texas  -- Hibbit Sports has opened a 4,000-sq.-ft. store at Northshore Plaza, in Portland, Texas.

The shopping center is owned by New York City-based Centro Properties Group.