ShopCore Properties (“ShopCore”) announced the appointment of Marc Ricks as Chief Executive Officer, effective today. Mr. Ricks joins ShopCore with decades of experience leading projects and teams in the real estate, infrastructure and technology spaces across the private and public sectors.
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“Marc is an accomplished leader with extensive real estate expertise across sectors, and we are excited to have him on board to lead ShopCore’s continued performance and innovation,” said Andrea Drasites, Managing Director at Blackstone Real Estate and Interim Chief Executive Officer of ShopCore. “ShopCore has made significant strides executing its disciplined growth strategy with a focus on maximizing value in well-located open-air retail centers that drive commerce and connection in their communities. Marc’s significant operational expertise and culture-forward approach make him an excellent fit to lead ShopCore’s talented team.”
“I am very excited for the opportunity to lead one of the most forward-thinking companies in retail real estate,” said Mr. Ricks. “The team has done a remarkable job building, maintaining and investing in an exceptional portfolio with a stable and resilient tenant base throughout a complex and unprecedented time for the retail industry. I look forward to working alongside ShopCore’s team to build on the Company’s strong momentum and position the business for even greater growth and success in the years to come.”
About Marc Ricks
Mr. Ricks spent the past four years as President and Chief Operating Officer of Sidewalk Labs, Alphabet’s urban innovation platform (which has since been integrated into Google), where he oversaw the company’s operations, organization, commercialization efforts and investments. Previously, he served as Senior Vice President of Development at Vornado Realty Trust, the largest owner of office and retail space in New York City, where he led public-private partnership projects including the transformation of the district surrounding New York City’s Penn Station. Prior to joining Vornado in 2015, Mr. Ricks was Head of Commercial Strategy, Industry Verticals at Bloomberg L.P. where he helped lead the company’s web-based information business.
Previously, Mr. Ricks worked for the City of New York, most recently in 2013 as Senior Advisor to the Mayor and Chief Operating Officer for the Special Initiative for Rebuilding and Resiliency, where he helped lead the City’s resiliency planning in the wake of Hurricane Sandy. He also worked in New York City’s Office of the Deputy Mayor for Economic Development and Rebuilding, first as a senior policy advisor and then as chief of staff working with all City economic development agencies and helping to design PlaNYC, the comprehensive 2007 plan to achieve sustainable growth. Between his roles with the City of New York, he spent more than five years as a member of the investment team within Goldman Sachs’ Infrastructure Investment Group. He began his career as a consultant with McKinsey & Company.
Mr. Ricks served as the Chair of the Board of Directors for The Friends of Governors Island and continues to serve as a board member. He holds an MBA from Harvard Business School.
About ShopCore Properties
ShopCore, a Blackstone portfolio company, is a vertically integrated real estate company with internalized leasing, development, property management, legal, accounting, and asset management functions. Currently, ShopCore leases and manages 65-plus shopping centers covering approximately 14 million square feet in 15 states. For more information, visit shopcore.com.
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