FORT WORTH, TEXAS (March 23, 2023) – Trademark Property Company (Trademark), a mixed-use investor, developer and operator, today announced the hiring of Sunny Patel as Senior Vice President of Institutional Services and Investments, and the launch of a mall advisory line of business. Bringing more than 15 years of retail and mixed-use real estate experience to the role, Patel will lead the sourcing of investments, institutional joint ventures and service relationships.
“For 15 years, Trademark has assisted institutional owners and investors in evaluating the market potential of regional malls and large outdoor retail and mixed-use assets,” said Terry Montesi, CEO of Trademark. “With Sunny on board, we are now formalizing this service to meet the great demand for well-thought-out, executable, research-driven plans that mitigate risk and respond to changing consumer preferences over time. This is an exciting time in the retail world, with dozens of well-located regional malls ready for their next act.”
Under the newly formalized business line and Patel’s leadership, Trademark will offer advisory services to assist institutional mall investors in studying the market position and long-term viability of their assets and trade areas. Trademark will analyze re-merchandising and densification strategies for malls to become more relevant in the marketplace. The advisory services will also include asset management, marketing, activation and concierge services.
Prior to joining Trademark, Patel worked in various positions at Morgan Stanley, OliverMcMillan and Terramar Retail Centers. Most recently, he served as Vice President of Investments at Pacific Retail Capital Partners where he furthered his exposure and honed his expertise in the large-format retail sector on a national scale. Throughout his career, Patel has gained extensive experience in the retail, office, industrial and mixed-use asset classes ranging from core to opportunistic transactions both in debt and equity. He has worked in advisory, merchandising, leasing and redevelopment of underutilized and at-risk super regional mall assets, providing a strong foundation to serve as the leader for the launch of Trademark’s new business line.
“Trademark has one of the strongest reputations in the industry, with a successful 30-year track record as a value-add operating and development partner for large, complex retail assets,” said Patel. “I am honored and excited to join this team and leverage its market-leading capabilities to grow our institutional services and investment platforms and to launch the formal mall advisory business. We will work to craft creative, actionable plans to invest in, evolve, remerchandise, increase market penetration and densify mall and outdoor properties with alternative uses.”
Patel holds an MBA, Master of Science in Real Estate from the University of San Diego and a Bachelor of Science in Civil Engineering from the University of California, Irvine. He is currently an active member of the International Council of Shopping Centers (ICSC) and the Urban Land Institute (ULI).
Trademark successfully rebranded, redeveloped and remerchandised its first enclosed mall with an institutional investment partner in 2008. The repositioning of this once market dominant property under siege by a competing development resulted in strong financial returns and changed the quality of life in its community forever. Today, Trademark’s mixed-use, retail and institutional services portfolio includes Galleria Dallas, WestBend, Waterside and Alliance Town Center in Fort Worth; Market Street – The Woodlands in The Woodlands (Houston); La Palmera Mall in Corpus Christi, Texas; Zona Rosa in Kansas City, Missouri; Annapolis Town Center in Annapolis, Maryland; Bridgewater Commons in New Jersey; North Point in Alpharetta (Atlanta); and Perkins Rowe in Baton Rouge, Louisiana. In addition to the current portfolio, Trademark previously worked on notable projects such as Victory Park and Preston Oaks in Dallas, Watters Creek in Allen (Dallas) and Rice Village in Houston.