Retail Execution

When JLL took over retail leasing for 1407 Broadway, just south of Times Square in New York, it decided to break up the four existing retail pads on the ground floor into eight and emphasize food. That plan is now coming into fruition with the signing of Gregory’s Coffee, Juice Generation, Luke’s Lobster, and ‘Witchcraft as the first four tenants.  

At Home on Friday started trading its shares on the New York Stock Exchange.    The Plano, Texas-based retailer has been growing its store base at a rate of 20% annually for the last three years, reported the Dallas Morning News. It now operate 115 stores in 29 states across the South and Midwest.     

The Dallas area is getting its sixth Nordstrom Rack store.   Nordstrom said it will open a Nordstrom Rack at The Centre at Preston Ridge in Frisco, Texas. The approximately 33,000-sq.-ft. store is scheduled to open in fall 2017. The property is owned by Brixmor Property Group.  

Some three years after he returned to save J.C. Penney, industry veteran Myron E. (Mike) Ullman will retire from the company on Aug. 1.    Ullman is passing the reins of chairman of Penney’s board of directors to current CEO Marvin R. Ellison. The succession is in accordance with a transition plan the company outlined in 2014.  

Efficient Collaborative Retail Marketing (ECRM), a leader in business innovation and technology, has hired retail business-to-business media veteran Wayne Bennett as senior VP, retail to lead business process initiatives between the retail industry and the supplier community that serves them.  

Cindy Schooler has joined SRS Real Estate Partners as a senior VP in the Orlando, Florida, office directing landlord and tenant representation. She held a similar role with Cushman & Wakefield in Central Florida for the past two years.   Schooler has long experience in retail site selection, having spent eight years performing market analysis and negotiating leases for new restaurant concepts with Restaurant Partners in Orlando. She also spent five years as owner of Cynco Properties, a real estate broker.  

DLC Management announced several promotions within its national leasing team, chief among them the naming of Chris Ressa as senior VP of the department.   A one-time Sherwin Williams real estate rep, Ressa joined DLC as a leasing rep in 2007 and rose through the ranks to become VP of the Midwest region and senior VP of the Northeast/Midwest region before being put in charge of nationwide leasing for this major owner and operator of open-air shopping centers.  

DDR fired president and CEO David Oakes and replaced him with 40-year industry veteran Thomas August. A company press release says Oakes’ termination was unrelated to financial or operating results, though DDR showed a net loss of $93.5 million in 2015 after posting income of $91.3 million the previous year.