Mr. Selonick’s expertise is built on more than 30 years developing, redeveloping and operating retail properties. He provides clients with due diligence and market feasibility studies for projects in various stages of development and has also evaluated, devised and implemented operating and leasing plans for retail centers that need to be strategically repositioned.
Mr. Selonick spent 10 years at Cadillac Fairview where he was responsible for planning and development of three new regional malls in North Carolina and Georgia. In addition to obtaining entitlements for the projects, Mr. Selonick negotiated the anchor store agreements, supervised planning and design as well as construction and inline store leasing.
Following the sale of Cadillac Fairview, Mr. Selonick spent 10 years at Corporate Property Investors, a large, private retail REIT, where he was vice president and asset manager with responsibility for 12 regional malls. Mr. Selonick guided several of the properties through major expansions, including a 4 ½ -year effort to gain approval for and then execution of a 210,000 square foot vertical expansion. Mr. Selonick also arranged for new department stores and additional inline space to be added to two New York area malls after extensive environmental reviews and in the face of significant local opposition.
Following the sale of Corporate Property Investors to Simon Property Group, Mr. Selonick spent three years working at Related Urban Development, a division of the Related Companies. While at Related, he was the senior asset manager for a 625,000 square foot mixed-use property in West Palm Beach, Florida. Many of the tenants at the newly opened center did not perform up to expectation and as a result, Mr. Selonick renegotiated a number of existing leases and supervised a remerchandising program that ultimately led to the replacement of many other tenants. Mr. Selonick also managed the final design, leasing and construction of a 140,000 sf entertainment center in Birmingham, Michigan. The project included a theater as well as several restaurants and retailers.
Prior to joining Arcturus, Mr. Selonick assisted in the planning and development of an 85-acre, brownfield, waterfront development site in Connecticut. The project was approved for 6 million square feet of retail, residential and office space. As part of his responsibilities Mr. Selonick supervised and subsequently vacated a 20-acre industrial park and then administered remediation studies and demolition of buildings on the property. He secured the commitment of a 55,000 square foot grocery store anchor for the property which opened in 2010.
Mr. Selonick graduated from the University of Rochester, and received an MBA from Northeastern University.