Development/Redevelopment

7-Eleven is in the process of widening its presence in New Jersey from the New York City suburbs to southern shore towns.   The convenience store chain’s leasing company in the area, R.J. Brunelli, says it is searching for 2,800-sq.-ft. to 3,000-sq.-ft. free-standing or end cap units in Union, Ocean, Monmouth, Mercer, and Middlesex counties. Suburban sites must be situated on roads with minimum traffic counts of 15,000 vehicles a day and must have lot sizes of at least 12,000 sq. ft. to accommodate 10 parking spaces.

Phillips Edison & Company, a leading national player in grocery-anchored centers, has promoted David Wik to senior VP of acquisitions.   In his past six years with the company, most recently spearheading growth in the Southeast, Wik sourced the acquisition of more than 100 assets representing $1 billion-plus in investments for the company’s several REITs. He previously worked in acquisitions at Midland Atlantic Development.