Commerce Bancorp, Inc

Real Estate Weekly, Sept 14, 2005

Commerce Bancorp, Inc. announced that it has hired Jon Sandeen, Vice President of New Store Construction and Design for Wal-Mart stores, to the newly created position of Director of Development.

As Senior Vice President/Director of Development for Commerce, Sandeen will be responsible for new store construction, design and real estate.

During 2005, Commerce plans to open 50 to 55 new stores in its Metro New York, Metro Philadelphia and Metro Washington, D.C. Markets. In 2006, it plans to open 65 new stores across its network.

At Wal-Mart, Sandeen was responsible for the management and supervision of retail store design and construction. He also managed a team of 160 associates that completed 330 new store projects across the US in 2004. Earlier, Sandeen directed facilities maintenance and emergency support for 4,000 operating Wal-Mart Stores.