VIRGINIA BEACH, Va. (WAVY) — Just a week after an announcement that it would buy a major Norfolk shopping center, the Virginia Beach-based Wheeler Real Estate Investment Trust, Inc. has fired its chairman, CEO and president.
Jon S. Wheeler was officially terminated on Tuesday, according to a release from the company. Wheeler had served in that role since November 2012. He also resigned from his position on the company’s board of directors.
David Kelly, who joined the company in 2013 and most recently served as CIO, was named the company’s new CEO and president.
The company did not respond to questions from 10 On Your Side about the decision on Tuesday.
On Jan. 23, the real estate company officially announced it would buy the nearly 60-year-old JANAF shopping center in the Military Circle area of Norfolk for $85.65 million.
Norfolk officials praised the announcement, citing the area’s boom of economic activity with the recent opening of the Norfolk Premium Outlets and IKEA’s second store in Virginia.