REAL ESTATE

Phillips Edison appoints VP of Community Partnerships
Salt Lake City -- Phillips Edison & Company announced it has promoted Scott Adair to VP of Community Partnerships, effective immediately. Adair, who previously served as assistant director of Property Management, will remain based in Salt Lake City.

In his new role, created as a result of the company’s Innovation Labs’ ‘Community Engagement Initiative,’ Adair is responsible for cultivating new and managing existing relationships with community leaders to build goodwill and advance business objectives.
H&M’s brick-and-mortar expansion continues at torrid pace
H&M isn’t letting a challenging retail environment stand in the way of its physical expansion.

The Swedish retail powerhouse plans to open 425 stores in 2016, with a focus on expansion in the United States and China. The company will also enter several new markets this year, including New Zealand, Puerto Rico and Cyprus.

In addition, the chain will expand its e-commerce site to several markets, including Ireland, Japan, and Greece.

At the close of its fiscal year, H&M operated 3,924 stores in 61 markets.

Sears store opens in an Ace Hardware

So far this year, four Sears Hometown Stores have opened around the country. Of particular interest is the opening in Selma, California -- inside a hardware store.

On Jan. 28, California Sears Hometown Store opened inside the Nelson Ace Hardware store in Selma.
Publix-anchored retail center in suburban Atlanta trades for $13 million

Woodstock, Ga. -- Transwestern’s Southeast Investment Services Group announced it brokered the disposition of East Cherokee Village Shoppes for $13 million. New Orleans-based PMAT Cos. acquired the 128,667-sq. ft., Publix-anchored shopping center is located in Woodstock, Georgia. Transwestern VP Fred Victor and managing director Kevin Markwordt represented the private seller.
SRS Real Estate Partners hires senior VP to Houston Office

Houston -- SRS Real Estate Partners welcomes Jonathan Hicks as SVP and co-market leader in the Houston office. Hicks will lead the Houston office alongside team member, Cody Persyn.

"The addition of Jonathan to our Houston office complements our existing business immensely," said Woody McMinn, president of North American brokerage. "Cody's depth and tenure at SRS, and around the country, joined with Jonathan's market contacts and local industry involvement, are going to make a great market leader team."
Metro Commercial Negotiates Sale of Home Depot Plaza

Upper Darby, Pa. -- Metro Commercial Real Estate announced that is has negotiated the sale of the 307,000-sq.-ft. Home Depot Plaza in Upper Darby, Pennsylvania.

The purchaser, a life insurance company, values the long-term nature of the anchor leases, Home Depot and Acme, and the population density of the area.
'Disneyland of supermarkets' to open another N.Y. store

Popular Northeast grocer Stew Leonard's is planning to open a 70,000-sq.-ft. store in Long Island this year.

Construction on the new store will start this summer with an anticipated opening date of mid-2017, the company said. Earlier this month, Stew Leonard’s opened its first Long Island store in Farmingdale’s Airport Plaza on Route 110.

The family-owned and operated grocery chain was founded as a dairy store in 1969 in Norwalk, Conn.
Nordstrom to open second, smaller store in Manhattan

Nordstrom isn't satisfied with just one location in the Big Apple.
American Dream mega-mall adds huge Primark store

The American Dream mall will encompass three million square feet when it opens in northern New Jersey in 2017 and occupying 100,000 sq. ft. of that space will be fashion retailer Primark.
Convenience stores keep advancing

Despite plummeting fuel prices, the ranks of convenience stores swelled to a record level last year.

The U.S. convenience store count increased to 154,195 stores as of Dec. 31, a 0.9% increase (1,401 stores) from the year prior, according to the 2016 NACS/Nielsen Convenience Industry Store Count.