LOS ANGELES, August 25, 2011—X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S., Canada and Europe, announced today that Los Angeles-based partner Cypress Retail Group has been retained by Property Development Centers (PDC), a wholly owned subsidiary of Safeway Inc., to serve as the leasing agent for four shopping centers under development and redevelopment in the Los Angeles area. X Team International partner Timothy Genske made the announcement.
The four shopping centers, located in La Canada, La Crescenta, Eagle Rock and Pasadena, are all being redeveloped, renovated or expanded, and are anchored by Vons, a Los Angeles-based, Safeway-owned grocery store.
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.
Cypress Retail Group was formed in June 1995 by Bob Haas, Scott Manclark, Bob Walsh and Dave Binney, all former retail brokers with CB Commercial Real Estate Group. Its principals created Cypress Retail Group to meet the needs of retailers, developers, property owners and restaurant operators throughout Southern California. Their experience, a combined tenure of more than 100 years, and deal-making acumen, has allowed Cypress to become one of the best brokerage companies of its kind. For more information, please visit www.cypress.net.
Property Development Centers (PDC) is a wholly owned subsidiary specializing in retail shopping center development and capitalizing on Safeway’s real estate core competency. PDC projects are concentrated in Safeway’s urban and suburban markets with high barriers to entry. PDC creates value by obtaining entitlements, transforming centers and leasing retail space to third parties. For more information, please visit www.safewayrealtyholdings.com.