ShopOne Names Jim Sylvia to Board of Directors

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ShopOne Centers REIT Inc., (ShopOne or the Company) leading owner, operator and manager of high-quality grocery-anchored shopping centers, today announced the appointment of James J. (Jim) Sylvia as an independent director, effective immediately. Mr. Sylvia adds over 30 years of retail and supermarket real estate executive experience to ShopOne, expanding the Companys Board to five directors.

Mr. Sylvia, a widely recognized grocery retail industry leader, currently serves as the Founder and President of Readco-Sylvia Advisory Services, a strategic consulting business specializing in real estate, retail and e-commerce. He is also a Partner in Readco Portfolio, a real estate investor, developer and owner of a diverse real estate portfolio including retail, entertainment and medical office space.

“Jim brings an unparalleled resume to our Board. With experience working with e-commerce and managing real estate assets and strategy for hundreds of grocery stores, Jim positions us well to capitalize our national portfolio of grocery-anchored shopping in the evolving retail market, said Michael Carroll, Chief Executive Officer of ShopOne. We are excited for Jim to utilize his unique insights to make positive contributions to the Company.

Prior to his current ventures, Mr. Sylvia spent over 23 years at Ahold USA, a market leading $28B supermarket and e-commerce company that operates over 800 supermarkets and 200 grocery pick-up points, where he most recently served as Real Estate and Development Officer. In his role with Ahold, Mr. Sylvia led major supermarket chain acquisitions, managed Aholds real estate portfolio of over 60 million square-feet of commercial space and implemented numerous Peapod e-commerce initiatives. Additionally, he helped lead the launch of Fresh Formats LLC, Aholds new venture group dedicated to the development of new store formats, including bfresh, an urban small format grocery store.

Mr. Sylvia has held leadership roles within the International Council of Shopping Centers and has been featured as a guest lecturer at the Harvard Business School and Yale School of Management. He holds a bachelors degree in economics from Bates College.

About ShopOne

ShopOne Centers REIT is a leading owner, operator and manager of high-quality shopping centers. The Companys more than 50 retail centers located in established trade areas and are supported by a diverse mix of highly productive non-discretionary, value-oriented and grocery retailers. ShopOne is committed to maximizing the value of its portfolio by capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing value-enhancing redevelopment opportunities. To learn more about ShopOne, please visit www.ShopOne.com.

Brendan Terry
ICR, Inc.
(203) 682-8212
[email protected]