After recently announcing that the company will be undergoing a transformative reorganization at the beginning of 2019, CBRE has appointed Ken Stern as first vice president to the company’s Cleveland office. Stern is a retail real estate veteran specialized in leasing and selling outparcels to food and beverage users. At CBRE, he will be working nationally to enhance the company’s representation of retail landlords who are seeking to place restaurants, bars and other uses around their centers.
Stern has been in the industry for 31 years, and prior to joining CBRE he was with DDR Corp. for 22 years. His last position there was senior vice president of peripheral development. He was responsible for managing, supervising, and strategically planning DDR’s national platform of peripheral land opportunities, with a primary focus on leasing, land sales and development to national and regional restaurants.
“The food-and-beverage category probably is the hottest sector for retail-center investors these days, as nearly every property is adding restaurants to define and support the experience it offers shoppers,” Todd Caruso, senior managing director leading CBRE’s representation of retail investors in the Americas said, in a prepared statement.
Stern holds a BS in business administration and management, real estate and insurance from Penn State University. He is an active member of the International Council of Shopping Centers (ICSC), where he currently sits on the Executive Board for the Food for Thought Committee.
Image courtesy of CBRE