Real Estate

CINCINNATI — Phillips Edison & Company has named John S. Kokinchak, SCSM, SCLS, as GM of Parmatown Mall in Parma, Ohio, Cleveland's largest suburb.

Kokinchak, a veteran executive of the shopping center industry, will assist in leading the transformation of the historic retail location into The Shoppes at Parma, a "Main Street" destination for shopping and dining that will act as a town center for residents of Parma and surrounding communities.

Bryn Mawr, Pa. -- WP Realty has acquired Plaza at the Pointe, a 149,016-sq.-ft. center located near Pittsburgh in the Parkway West retail submarket.

Anchor tenants include Bed, Bath & Beyond, Old Navy, La-Z-Boy and Party City. An additional 21,556 sq. ft. anchor space is currently vacant.

Latitude 40, a recently redeveloped 60,000-sq.-ft. entertainment center, and a number of national retailers shadow-anchor Plaza at the Pointe from adjacent properties.
 

Atlanta -- Jones Lang LaSalle has announced that it has closed the sale of Tifton Corners in Tifton, Ga., to Tifton Retail. JLL represented RCG Ventures in the transaction.

Anchors at the 186,629-sq.-ft. Tifton Corners include Big Lots, Save A Lot, Tractor Supply Co., Dollar Tree, Citi Trends and Hibbett Sports. The property is currently 84% leased.

JLL noted that Tifton is near I-75, a major north-south interstate, in south central Ga., two hours north of Tallahassee and three hours south of Atlanta.

Fort Lauderdale, Fla. -- Marcus & Millichap Real Estate Investment Services has promoted Douglas K. Mandel to first VP investments. Mandel also serves as senior director of the firm’s National Office and Industrial Properties Group and director of the National Retail Group.

In 2012, Mandel was the firm’s top office and industrial agent nationwide.

Dallas -- Regency Centers Corp. has closed on an off-market acquisition of Preston Oaks, a 103,503-sq.-ft. infill neighborhood center anchored by H-E-B Central Market. National retailers include Gap, Pier 1 Imports and White House Black Market.

Located in the Preston Hollow neighborhood of Dallas, Preston Oaks serves a market of 109,000 within a three-mile radius. Average household income is $144,000. The market’s population swells to 118,000 during the day.

Vineland, N.J. -- Ulta Beauty will open a new superstore  this fall at Cumberland Mall in Vineland, N.J. The 10,500-sq.-ft. store will feature a full-service salon as part of its offerings.

Cumberland Mall is anchored by Boscov’s, Marshalls, J.C. Penney, Burlington Coat Factory, Michaels, Old Navy and Bed Bath & Beyond.

Houston -- Baker Katz has announced the completion of the sale of a 47,395-sq.-ft. freestanding property leased to Gold’s Gym in Corpus Christi, Texas.

Baker Katz is a full-service retail brokerage and a member of real estate alliance X Team.

Atlanta -- Jones Lang LaSalle has announced that its retail group, in an exclusive deal, will lease and manage Shenandoah Plaza in Newnan, Ga. Anchoring the 146,121-sq.-ft. property are Big Lots, Rent-A-Center and Goodwill.

The property is currently 100% occupied. John Bemis, southeast retail market lead, and Janine Christian, senior VP, will direct JLL’s team on the assignment.