Co-owners Cadillac Fairview and Ivanhoe Cambridge plan to invest $90 million in expanding and renovating Market Mall, a regional shopping center in Calgary, Alberta. The project — which will include the addition of 150,000-square-feet of GLA, an underground parking lot and an expanded and upgraded food court — will add space for 60 retailers. Construction has begun, with completion expected in the fall of 2004.
Nordstrom's head store planner, Chief Administrative Officer Joel Stinson, is retiring after 27 years with the company. Stinson rolled out the Seattle-based retailer's highly touted perpetual inventory system, which provides a wealth of inventory data to Nordstrom sales associates at the point of sale. Dan Little, former vice president of supply chain strategy, will assume the role of CAO.
Acadia Realty Trust's new senior vice president, director of leasing is Joseph Povinelli. Previously a vice president, Povinelli served as acting leasing director for the Port Washington, N.Y.-based developer for the past year. Before joining Acadia in 1999, he worked for Vornado Realty Trust.
Forest City Enterprises has signed a 16-screen AMC Theatres megaplex for its 1.3-million-square-foot Victoria Gardens lifestyle center in Rancho Cucamonga, Calif. AMC joins Macy's and Robinson's-May and the Rancho Cucamonga Cultural Center and Library as anchors in the complex that will be home to more than 100 retailers.
Baltimore's Hunt Valley Mall is set to become Hunt Valley Towne Center. Erwin L. Greenberg Commercial Corp. purchased the center in December and is redeveloping the regional mall. Greenberg's $35 million plans include demolishing the mall's 400,000-square-foot enclosed portion, and replacing it with a 130,000-square-foot Wegman's supermarket and an adjacent open-air Main Street component. The center's existing Sears, Dick's Sporting Goods, Hoyt's Theater, Wal-Mart, Burlington Coat Factory and DSW will remain. Completion is scheduled for early 2005.
New York-based Ashkenazy Acquisition, which made waves with its 2001 purchase of Barney's New York's $180 million real estate portfolio, is converting 659,000-square-foot Fashion Mall at Plantation in Florida into a 150,000-square-foot design-concept retail center. The new center, to be called Design World Center, will include such new tenants as Muvico 20, Culinary Concepts, Tile USA and Roma Marble & Granite. Existing anchors Macy's, Lord & Taylor and a Sheraton hotel, will remain.
Lifestyle centers are coming to New York City. Atco Properties & Management is developing The Shops at Atlas Park, located near the Flushing Hills neighborhood of Queens. The project comprises 275,000 square feet of retail in eight one- and two-story buildings; it also includes a 110,000-square-foot office component. Groundbreaking will take place this summer, with completion scheduled for 2005.
Aronov Realty Management Inc. hired former Jones Lang LaSalle exec John Bemis to serve as senior vice president of its shopping center division. The Montgomery, Ala.-based developer also promoted 23-year veteran Robin Raiford to vice president of management and marketing for the division.
Leasing is under way at Stark Enterprises' 1.7 million-square-foot Crocker Park in suburban Cleveland. Fifty-two percent of the property, inspired by Florida's Mizner Park and named after developer John Crocker, will be residential; 35 percent will be retail and restaurant space and 13 percent will be office space. Barnes & Noble, AnnTaylor and Dick's Sporting Goods are among the tenants signed on for the project, scheduled for completion in 2004.
Construction of Washington Plaza will begin next month, with an expected completion date of January 2004. The 14,000-square-foot Bronx, N.Y., strip mall sports a futuristic design with corrugated metal cladding and translucent signage. TEK Architects designed the building, and developer Washington Plaza, LLC, a venture between Baron Realty and Procida Realty and Construction Corp. is now seeking approvals for a second phase of the project, a grocery-anchored center across the street.
The Association of Real Estate Women honored Faith Hope Consolo as a Woman of Outstanding Achievement for retail brokerage. Consolo is vice chairman of New York-based Garrick-Aug Store Leasing Inc. and Garrick-Aug Worldwide in Paris.
AnnTaylor Stores' new senior vice president for merchandise and design is Jerome Jessup. He was previously vice president of product development and design for Gap, GapKids, babyGap and Gap Body.
Irvine, Calif.-based MBK Real Estate Ltd. named Stefan Markowitz as its new president. Markowitz, who replaces Mike Voss, was previously president of the company's residential division, MBK Homes Ltd. His new responsibilities include leadership of both MBK's housing and retail divisions.
Goodlettsville, Tenn.-based Dollar General appointed former Reebok International exec David Perdue to the position of CEO. Perdue, most recently CEO of home textiles manufacturer Pillowtex Inc., replaces outgoing general chairman Cal Turner, who will resign in June and stay on as an advisor.
Horsham, Pa.-based GMAC Institutional Advisors hired Mark White as senior vice president of its real estate equity advisory group. White worked for Lend Lease Real Estate Investments.