Sustainability

Beachwood, Ohio -- DDR has named a new financial chief, and the shopping center company reached from within its own ranks for the appointment. Luke J. Petherbridge, age 35, assumes the role of CFO effective immediately.
 
"Luke is an accomplished executive with a proven track record within our company, overseeing the balance sheet, fostering strong banking and capital partner relationships, and sourcing large scale transactions during his tenure with us," said David Oakes, president and CEO.

Do more with less. That’s an overall trend in retail facilities services, where retailers have less resources to run their properties even as they come under pressure to increase service levels while also reducing costs.

Four metatrends are reshaping the industry

Focus on concrete moisture and mitigation

Damage to flooring from concrete slab moisture costs U.S. companies upwards of $1 billion each year. When we interviewed flooring industry experts, more than 70% of them reported that they experience moisture issues “often,” with 100% of those surveyed in unanimous agreement that they had experienced some moisture issues.

Moisture issues show up as distorted flooring (such as curling and buckling), adhesive coming through the joints and alkalinity.

Technology evolves to let smaller stores maximize energy savings

Largest U.S. retail development to open since 2006

Perhaps nothing signifies the resurgence of the U.S. retail market, both on a macro and micro level, more than the long-delayed opening of Downtown Summerlin, in Las Vegas. Opened in October, the open-air center is the largest retail development to debut in the United States since the economic downturn. It has quickly ramped up to become not only one of the hottest retail destinations in the Las Vegas region, but in the entire Western part of the country.

Mahwah, N.J. - Ascena Retail Group Inc. has named board member Randy L. Pearce to the newly created role of lead independent director. As lead independent director, Pearce will preside at executive sessions of the independent directors, will serve as liaison between the independent directors and the chairman of the board and between the independent directors and senior management, and will call meetings of the independent directors.

Conshohocken, Pa. -- Ikea announced that it has chosen VCC to serve as construction manager both for the site work and store development of its new, larger store in Burbank, California. The new location will replace the chain’s existing Burbank store, which is also Ikea’s oldest store in the Western United States.

Pending remaining approvals and permits, groundbreaking is on track for fall 2015 and store opening in spring 2017. Until the new, roomier store opens on the new site, customers can continue to shop at the existing Ikea Burbank.

Walmart is all about leveraging its scale to drive performance, but the application of that mindset can play out in many different ways, as Kathleen McLaughlin, president of the Walmart Foundation, will explain on March 3.

New York -- Brixmor Property Group announced that in 2014, it completed lighting upgrade projects at 39 shopping centers, for an estimated combined energy reduction of 68%, or 6,100,000 kilowatt hours annually. That is equivalent to the annual carbon emissions from electricity used in 585 homes or the greenhouse gas emissions from more than 10 million passenger vehicle miles.